OnlyFans experiences booming growth in 2022, despite challenges in crypto
OnlyFans, the popular platform known for its adult content, had a successful year in 2022 despite facing difficulties in the cryptocurrency market. Here are the key points from their financial report:
- OnlyFans’ parent company, Fenix International Limited, reported significant growth and success for content creators on the platform.
- However, their Ethereum holdings took a hit due to the bearish trend in crypto.
- The company’s Ethereum assets were worth over $19 million at the start of the year but decreased to about $11.4 million by November.
- OnlyFans diversified some of its operational capital into Ethereum during the year.
- Despite the challenges, OnlyFans saw revenues rise from $4.8 billion in 2021 to $5.6 billion in 2022 with a 27% increase in user base and a 47% increase in artists on the platform.
Hot Take
Despite the downturn in their Ethereum holdings, OnlyFans’ overall growth and success in 2022 demonstrate their resilience in the face of challenging conditions. It will be interesting to see how they continue to navigate the volatile crypto landscape in the coming years.
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