Fenix International Limited, the parent company of the adult content subscription platform OnlyFans, has made a significant investment in Ethereum (ETH). The company’s financial statement for 2022 reveals a purchase of Ether worth $19.889 million. Despite the volatile nature of the crypto market, the purchased ETH had an impairment loss of $8.455 million, bringing the carrying amount to $11.434 million. OnlyFans has also explored the potential role of NFTs on the platform, allowing creators to use verified Ethereum NFTs as their profile images. This move was seen as an attempt to empower creators and explore the potential role of NFTs on the platform. The investment in Ether is indicative of a broader trend, as businesses recognize the potential of blockchain technology and cryptocurrencies. With its inherent properties as an “ultra-sound money”, Ethereum continues to attract attention from both individual investors and large corporations. OnlyFans’ revenue surged to $5.6 billion in 2022, up from $4.8 billion in the previous year. The number of creators on the platform also saw a 47% increase, with a 27% rise in the total number of subscribers. Simultaneously, the platform attracted over 50 million new users, and more than 1 million new content creators joined its ranks. As the crypto ecosystem evolves, the integration of digital assets into traditional business models will likely become more prevalent. OnlyFans’ significant investment in Ethereum is a testament to this trend and the growing belief in the long-term potential of crypto. As of press time, Ethereum is trading at $1,645.

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Information	Details
Geography	Global
Countries	🇬🇧 🇺🇸
Sentiment	positive
Relevance Score	9
People	Amrapali Gan, FTX, Terra, Celsius, LUNA
Companies	OnlyFans, FTX, Terra, Ethereum, Fenix International Limited, Celsius
Currencies	ust, ftx, bitcoin, luna, ethereum
Securities