OnlyFans’ Parent Company Faces Ethereum Losses After Investing $19M in 2022

By CoinMarketCap Alexandria August 29, 2023 In Ethereum, NFTs

Fenix International Limited Faces Ethereum Losses After Investing

While 2022 proved to be a prosperous year for content creator platform OnlyFans, it wasn’t necessarily the same for Ethereum, as highlighted in a recent financial statement.

Fenix International Limited, the parent firm of OnlyFans, said that it had owned Ethereum (ETH) worth more than $19 million throughout the year. But by the end of November 2022, this holding’s value had fallen to almost $11.4 million, a considerable loss.

The corporation acknowledged its diversification into digital assets, primarily Ethereum, in a 48-page strategic statement. Despite the value impairment, the corporation insisted that it was still free to sell these crypto holdings.


In a notable move last year, OnlyFans introduced Ethereum-based NFTs for creators to use in their profile images. This initiative aimed to empower creators and mark the platform’s initial exploration into the role of NFTs.

Due to the overall decline in the cryptocurrency market, Ethereum’s value declined throughout the reporting period, but OnlyFans had a prosperous year in terms of revenue and growth. From $4.8 billion in 2021 to $5.6 billion in 2022, the platform’s revenue increased dramatically. Additionally, there were 47% more creators on the platform, and there were 27% more subscribers overall.

Despite the financial setback related to Ethereum, OnlyFans’ overall performance underscores the ongoing evolution and potential of digital content creation platforms.

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