Fenix International, the parent company of the subscription platform OnlyFans, has unveiled its cryptocurrency holdings, disclosing an investment of nearly $20 million in Ether (ETH) during 2021 and 2022.
According to a financial filing submitted on August 24 to the UK corporate registry, Fenix International detailed its acquisition of approximately $19.9 million worth of Ether between 2021 and 2022. However, due to the downward trend in crypto asset prices throughout the previous year, the total value of its Ether holdings experienced an $8.5 million decline by the end of November 2022.
As of November 30, 2022, with ETH priced at $1,295 each, the company’s ETH holdings were valued at $11.4 million.
Despite the initial challenges in its crypto investments, the reporting period ending on November 30, 2022, demonstrated notable growth for the platform.
According to the filing, Fenix International’s revenue witnessed a 16.6% increase from $4.8 billion in 2021 to $5.6 billion in 2022. Furthermore, the primarily adult entertainment platform reported a 47% surge in the number of creators and a 27% rise in total subscribers.
This recent crypto investment isn’t the first instance of the company and its executives engaging in the digital asset space. In February 2022, OnlyFans allowed verified creators to utilize Ethereum-based NFTs as their profile pictures.