Playboy loses $5M on Ethereum earned from NFT sales
Playboy launched an NFT collection back in 2021, when crypto was flying high. Now, it’s getting hammered by the market.
Cryptocurrency news by Protos · Protos
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Show Notes
Parent of Hugh Hefner’s Playboy, PLBY Group, has disclosed a loss of $4.9 million on the Ethereum it held last year — citing a crypto winter as the cause.
Playboy’s NFT collection, Rabbitars, launched in 2021 at the peak of the NFT craze. The price of Ether since Rabbitars was released has since plummeted over 60%.
Find out what the decreasing NFT collection means for Playboy by listening to the clip above.
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