<br><div><p><b><i><a target="_blank" href="https://www.coindesk.com/consensus2022/" rel="nofollow noopener" data-ylk="slk:Join the most important conversation in crypto and web3! Secure your seat today;elm:context_link;itc:0" class="link ">Join the most important conversation in crypto and web3! Secure your seat today</a></i></b></p><p>PLBY Group (PLBY), the dad or mum firm of the late Hugh Hefner's Playboy enterprise, stated it took an impairment lack of $4.9 million on the ether (ETH) it held final 12 months, as crypto winter created a big decline within the broader market costs.</p><p>The approach to life and media firm stated it accepted ether as funds for its “<a target="_blank" href="https://opensea.io/collection/playboyrabbitars" rel="nofollow noopener" data-ylk="slk:Rabbitars;elm:context_link;itc:0" class="link ">Rabbitars</a>” non-fungible tokens (<a target="_blank" href="https://www.coindesk.com/learn/what-are-nfts-and-how-do-they-work/" rel="nofollow noopener" data-ylk="slk:NFT;elm:context_link;itc:0" class="link ">NFT</a>) launched in 2021, which it holds in its steadiness sheet as digital belongings, in accordance with an <a target="_blank" href="https://www.sec.gov/Archives/edgar/data/1803914/000180391423000017/ply-20221231.htm" rel="nofollow noopener" data-ylk="slk:annual filing on Thursday;elm:context_link;itc:0" class="link ">annual filing on Thursday</a>. The worth of the digital belongings sits at $327,000 as of final 12 months, the submitting stated.</p><p>A <a target="_blank" href="https://www.plbygroup.com/static-files/d9088661-8cbe-4704-92ed-69a9895734fc" rel="nofollow noopener" data-ylk="slk:previous filing;elm:context_link;itc:0" class="link ">previous filing</a> exhibits the corporate's digital belongings, which it refers to as Ethereum, have been value $1.75 million as of Sept. 30, 2022.</p><p>The corporate defined that the corporate accounts for its digital belongings as “indefinite-lived intangible belongings,” that are topic to impairment losses if the truthful worth of the belongings fall beneath their carrying worth, at any time. The impairment losses the corporate takes on the digital belongings can’t be recovered, even when the truthful worth of the belongings rise after taking the impairment losses.</p><p>“The market value of 1 [ether] in our principal market ranged from $964 to $3,813 in the course of the 12 months ended Dec. 31, 2022, however the carrying worth of every Ethereum we held on the finish of the reporting interval displays the bottom value of 1 Ethereum quoted on the energetic change at any time since its receipt,” in accordance with the submitting. "Due to this fact, damaging swings available in the market value of Ethereum might have a cloth affect on the corporate's earnings and carrying worth, whereas solely time an increase in costs will affect the corporate’s earnings positively, is when the Ethereum held within the steadiness sheet, are offered at a acquire," the submitting stated.</p><p>The corporate <a target="_blank" href="https://www.globenewswire.com/news-release/2021/10/20/2317683/0/en/Playboy-launches-new-NFT-project-Rabbitars.html" rel="nofollow noopener" data-ylk="slk:launched its “Rabbitar” NFT project;elm:context_link;itc:0" class="link ">launched its “Rabbitar” NFT project</a> in October 2021, in the course of the peak of the crypto market. Ether, the native token of the Ethereum blockchain, misplaced about 60% in worth since October 2021, in accordance with TradingView information.</p><p><button class="link caas-button collapse-button" aria-label="" title="" data-ylk="elm:readmore;slk:Story continues">Story continues</button></p><p>Earlier in 2021, Playboy entered into NFT and blockchain expertise business with its NFT drop known as “Liquid Summer season,” which is a group of digital artworks created in collaboration with the artist Slimesunday. The gathering, which minted in Might 2021, options archival pictures of Playboy mannequin <a target="_blank" href="https://www.wired.com/story/finding-lena-the-patron-saint-of-jpegs/" rel="nofollow noopener" data-ylk="slk:Lenna Sjööblom;elm:context_link;itc:0" class="link ">Lenna Sjööblom</a> – the so-called “First Woman of the Web.”</p><p>Nonetheless, these NFT drops weren’t the primary foray for the corporate into the world of digital belongings. In 2018, Playboy TV started <a target="_blank" href="https://www.coindesk.com/markets/2018/03/14/playboy-tv-to-accept-crypto-payments-for-adult-content/" rel="nofollow noopener" data-ylk="slk:accepting bitcoin (BTC) payments;elm:context_link;itc:0" class="link ">accepting bitcoin (BTC) payments</a>. In June, bitcoin funds expanded to <a target="_blank" href="http://playboy.com/" rel="nofollow noopener" data-ylk="slk:Playboy.com;elm:context_link;itc:0" class="link ">Playboy.com</a>.</p><p><i><b>Learn extra: </b></i><a target="_blank" href="https://www.coindesk.com/business/2021/09/01/playboy-is-minting-nfts-on-the-art-of-gender-and-sexuality/" rel="nofollow noopener" data-ylk="slk:Playboy Is Minting NFTs on the ‘Art of Gender and Sexuality’;elm:context_link;itc:0" class="link "><i><b>Playboy Is Minting NFTs on the ‘Art of Gender and Sexuality’</b></i></a></p></div>