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Parent Company of OnlyFans Purchases $20 Million Worth of Ethereum Amidst Soaring Revenue

Parent Company of OnlyFans Purchases $20 Million Worth of Ethereum Amidst Soaring Revenue

Fenix International, the parent company of OnlyFans, has revealed its cryptocurrency holdings, disclosing that it invested nearly $20 million in Ether (ETH) between 2021 and 2022. However, due to the decline in crypto asset prices, the value of its Ether decreased by $8.5 million by the end of November 2022. As of that date, the company’s ETH holdings were valued at $11.4 million. Despite this setback, OnlyFans experienced solid growth in revenue, with a 16.6% increase from $4.8 billion in 2021 to $5.6 billion in 2022. The platform also saw a 47% increase in creators and a 27% increase in subscribers. Fenix International has previously ventured into the digital asset space by allowing verified creators to use Ethereum-based NFTs as profile pictures and launching a celebrity trading card platform called Zoop. Adult content creators have recently flocked to Friend.tech, a decentralized social media platform, in an attempt to capitalize on the hype.

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