Playboy Incurs Loss Of $4.9M On Its Ethereum Holdings From NFT Collection

The company accepted Ethereum as payment for the “Rabbitars” non-fungible tokens, or NFTs, that were launched in 2021.  

The assets associated with these NFTs are now worth $327,000 as per its last annual filing on Thursday. 

In October 2021, the company launched its “Rabbitar” NFT project at the peak of the crypto market. However, since then ETH has lost roughly 60% of its value.