OnlyFans’ Parent Company Reveals $20 Million Investment in Ether
OnlyFans’ parent company, Fenix International, recently disclosed that it had purchased nearly $20 million worth of Ether (ETH) between 2021 and 2022. This investment was made in an effort to diversify the company’s portfolio and explore the potential of cryptocurrency. However, due to the bearish market conditions, the value of the investment has decreased to around $11.4 million.
Key Points:
– OnlyFans experienced a 16.6% growth in the past year, with a significant increase in the number of creators and subscribers.
– The company allowed verified content creators to use verified Ethereum NFTs as their profile photos on the platform.
– Fenix International’s decision to disclose its crypto holdings indicates a renewed interest in the crypto space.
– Friend.Tech, a decentralized social media platform, has recently faced a decline in popularity and daily fees.
– OnlyFans may consider exploring partnerships with other decentralized social media apps.
In conclusion, OnlyFans’ parent company’s investment in Ether and its exploration of the crypto space demonstrate a potential shift in the company’s strategy. By embracing cryptocurrency and decentralized social media, OnlyFans aims to stay relevant and leverage its presence on the internet.
Hot Take:
OnlyFans’ move into the crypto space shows its willingness to adapt and explore new opportunities. While the bearish market may have affected its initial investment, the platform’s growth and interest in NFTs indicate a promising future for OnlyFans in the crypto realm.
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