Fenix International, the parent company of content subscription service OnlyFans, invested $19.9 million in Ethereum between 2021 and 2022.
By the end of November of that year, the firm had suffered an unrealized loss of $8.46 million due to an Ethereum price drop to $1217, resulting in a remaining investment of $11.43 million.
The document states that there are no restrictions on the ability of the Group to sell these cryptocurrency assets. Since 2016, the launch of OnlyFans, the number of content creators and subscribers on the service has grown significantly.
As of 2022, content creators had increased by 47% to 2.16 million, whereas subscribers increased by 27%, making up 188 million people.
The platform’s revenue also rose from $4.8 billion to $5.6 billion, as well as pre-tax profit which augmented from $433 million to $525 million.
Furthermore, early last year in February, OnlyFans added support for Non-Fungible Tokens, allowing users to use them as profile avatars.
