PLBY Group (PLBY), the parent company of Hugh Hefner’s Playboy, said it made a $4.9 million impairment loss on Ethereum last year. Due to the crypto winter that hit the market price in a big way.
The company accepts Ethereum as payment for “Rabbitars. ” non-fungible token (NFT) launched in 2021, held on the balance sheet as a digital asset, according toAnnual Papers on Thursday The value of the digital asset stood at $327,000 last year.
companyLaunched the NFT project “Rabbitar”In October 2021, during the crypto market peak, Ethereum’s native token, Ether, lost about 60% of its value since October 2021, according to TradingView data.
Playboy entered the NFT and blockchain technology industry with the launch of an NFT called “Liquid Summer,” a digital art collection created in collaboration with artist Slimesunday. Released in May 2021, featuring photos of the Playboy model. Lenna Sjoöblom also known as “First Lady of the Internet”
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