Fenix International, the umbrella company for subscription platform OnlyFans, has disclosed an investment of approximately $20 million in Ether (ETH) during the period of 2021-2022.
This disclosure, detailed in an Aug. 24 financial 
Though Ether witnessed a decline in value during 2022, dropping down to $1,660 by the year's end, the allure of cryptocurrency has not deterred Fenix International from expanding its presence in the realm.
By the close of November 2022, due to the overarching dip in crypto prices, the company's Ether holdings experienced a depreciation, bringing the total value down by $8.5 million. With ETH priced at $1,295 each as of Nov. 30, the company’s holdings equated to a sum of $11.4 million.
Yet, it wasn't all gloom for Fenix. The parent company, primarily known for its adult entertainment platform, saw robust growth during the reporting period ending on November 30, 2022.
Company filings indicate a 16.6% spike in revenue, leaping from $4.8 billion in 2021 to a commendable $5.6 billion the following year. In tandem, the platform noted an uptick in user engagement, marking a 47% surge in content creators and a 27% boost in its subscriber count.
Cryptocurrency's prominence in the company’s strategy is further highlighted by past initiatives.
As early as February 2022, OnlyFans empowered its verified creators with the ability to update their profile images to Ethereum-derived NFTs (Non-Fungible Tokens).
Additionally, in a testament to the growing nexus between entertainment and crypto, two ex-OnlyFans executives unveiled a unique venture in June 2022. Named Zoop, this platform, constructed atop the Ethereum scaling solution, Polygon, granted users the facility to exchange 3D digital trading cards spotlighting their cherished celebrities.
Fenix International's openness about its ETH holdings comes at an intriguing juncture, as adult content pioneers increasingly navigate towards Friend.tech — an emerging decentralized social media network in the crypto ecosystem. With many keen on
