Playboy's parent company PLBY recorded an impairment loss of 4.9 million dollars on its ETH holdings

ChainCatcher news, Playboy's parent company PLBY Group stated that due to the significant drop in cryptocurrency prices, it recorded a $4.9 million impairment loss on Ethereum it held last year. The company mentioned that it accepted Ethereum as a payment method for its NFT project "Rabbitars," launched in 2021, and holds it as a digital asset on its balance sheet.

The annual report shows that as of the end of last year, the value of these digital assets was $327,000. The company explained that its digital assets are classified as "intangible assets with an indefinite useful life," and if the fair value of the assets is lower than their carrying amount, an impairment loss will be recognized on these assets. (CoinDesk)