OnlyFans Reveals $20 Million Investment in Ether (ETH)
OnlyFans’ parent company, Fenix International, has disclosed that it invested nearly $20 million in Ether between 2021 and 2022. The move was aimed at diversifying their portfolio and exploring the potential of cryptocurrency. However, due to the bearish market, the initial investment is now worth around $11.4 million.
Key Points:
– OnlyFans experienced a 16.6% growth last year, thanks to an increase in creators and subscribers.
– The platform allowed verified content creators to use Ethereum NFTs as their profile photos.
– Fenix International’s decision to reveal its crypto holdings indicates their interest in the crypto space.
– Friend.Tech, a decentralized social media platform, has seen a decline in popularity after a successful launch.
– OnlyFans can consider partnering with other decentralized social media apps.
Hot Take:
OnlyFans’ investment in Ether shows their commitment to exploring the crypto space and finding innovative ways to enhance their platform. Despite the challenges faced by the crypto market, the company’s growth in users and creators suggests a promising future. By embracing blockchain technology and decentralized platforms, OnlyFans can continue to adapt to the evolving digital landscape.
Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice.
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