The parent company of OnlyFans, Fenix International has become the latest firm to reveal its cryptocurrency holdings and has invested nearly $20 million into Ether in 2022.
Fenix International, the UK-based parent company of content subscription giant OnlyFans, reported that it had purchased about $19.9 million worth of ETH between 2021 and 2022 according to a financial filing of the UK corporate registry on 24 August 2023.
However, the company’s total Ether holdings lost $8.5 million in value last year by the end of November 2022. According to the filing, the company’s revenue increased 16.6% from $4.8 billion in 2021 to $5.6 billion in 2022.
OnlyFans was launched in 2016 for its adult content and has now become a popular way for creators to make money by selling content to subscribers.
OnlyFans, which mainly focuses on adult entertainment, saw an increase of 47% in the count of content creators and about a 27% increase in the total number of subscribers.
In February 2022, the platform let verified creators use Ethereum-based digital items called NFTs as their profile pictures. Users spent $5.5 billion on the platform, with the company reporting $1.1 billion in sales in 2022.
Two ex-executives of OnlyFans launched a platform called Zoop for trading NFT playing cards featuring celebrities and influencers in June 2022.
