Playboy Incurs Loss Of $4.9M On Its Ethereum Holdings From NFT Collection - PLBY Group (NASDAQ:PLBY)
17 Mar 2023 10:19 AM
PLBY Group (NASDAQ: PLBY), the parent company of Hugh Hefner's Playboy, reported an impairment loss of $4.9 million on its Ethereum (CRYPTO: ETH) holdings....
- PLBY Group reported an impairment loss of $4.9 million on its Ethereum holdings.
- The loss is due to the decline in value of Ethereum since the launch of its “Rabbitar” NFT project.
- The assets associated with the NFTs are now worth $327,000.
- Negative swings in the market price of Ethereum could have a material impact on the company's earnings and carrying value.
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The article reports on a negative development for PLBY Group, as it has suffered an impairment loss on its Ethereum holdings due to market volatility. The sentiment is therefore negative.
What caused the impairment loss for PLBY Group?
What is the current value of the assets associated with the “Rabbitar” NFTs?
What is the potential impact of negative swings in the market price of Ethereum on PLBY Group's earnings and carrying value?
When did PLBY Group launch its “Rabbitar” NFT project?
What is the current trading price of Ethereum according to Benzinga Pro data?
category: Penny Stocks
tag: Hugh Hefner
tag: non-fungible tokens
tag: Playboy Group