The cryptocurrency was acquired between 2021 and 2022 by Fenix International, the parent company of OnlyFans.
The parent company of the subscription platform OnlyFans is the most recent organization to disclose its cryptocurrency holdings, revealing it invested nearly $20 million in Ether ETH.
According to a financial filing made on August 24 to the UK corporate registry, Fenix International purchased approximately $19.9 million worth of ETH between 2021 and 2022. In contrast, the total value of its Ether decreased by $8.5 million by the end of November 2022 due to a decline in the value of crypto assets over the past year.
As of November 30, 2022, when ETH was worth $1,295 per coin, the company’s ETH holdings were valued at $11.4 million. The parent company of OnlyFans acquired $19.889 million worth of Ethereum.
Despite its lack of initial success in crypto investment, the platform experienced robust growth during the reporting period concluding November 30, 2022.
According to the filing, the company’s revenue increased by 16.6% from $4.8 billion in 2021 to $5.6 billion in 2022. In addition, the platform specializing in erotic entertainment saw a 47% increase in creators and a 27% increase in total subscribers.
It is not the first time the company and its executives have invested in cryptocurrencies. In February 2022, the platform enabled verified creators to transform their profile images to NFTs based on Ethereum.
Two former OnlyFans executives founded the celebrity trading card platform Zoop in June 2022. Zoop enabled users to trade 3D digital playing cards depicting their beloved celebrities.
Adult content creators migrated to Friend. Tech, crypto’s newest decentralized social media platform, to capitalize on cryptocurrency hype.
