It should be noted that big brands quite often get involved with the NFT world, but this does not always end successfully. For example, one of the major releases in 2023 was a collection from Porsche , in the centre of which the legendary Porsche 911 was placed.

Alas, the company did not choose the best launch strategy. In particular, the cost of minting – i.e. creating – the new NFT was too high, with the result that investors didn’t even come close to buying out all the tokens. This forced the developers to reduce the total number of NFTs in circulation, thereby admitting their own failure.

However, even a successful collection release can end in a loss. Especially if you don’t sell digital assets in time, as Playboy representatives did.

How to lose money on cryptocurrencies

As a reminder, Playboy accepted ETH as payment for copies of its NFT collection Rabbitars, which was released in October 2021. Since the collection’s release, the value of ETH has sagged by more than 60 per cent.

As of December 2022, the company had a net book value of $327,000 in coins on hand. At the end of the third quarter of 2022, that figure was noticeably higher, at $1.75 million.

Company representatives explained that crypto is defined as “indefinitely-lived intangible assets” that can depreciate in value. The impairment losses the company incurs on the digital assets cannot be recovered, even if the fair value of the coins increases after the report in the balance sheet.

According to Coindesk sources, the NFT collection of Rabbitars was launched just weeks before Bitcoin hit its all-time high rate. That was the market’s all-time peak, during which unique tokens were also much more popular than they are now. In other words, the timing for the project’s release was almost unfortunate, as demand for the relatively illiquid NFTs dipped significantly as the market collapsed.

Incidentally, Playboy began its journey in the world of unique tokens even earlier. A few months before Rabbitars, the company released an NFT collection called Liquid Summer. It was a series of digital artworks created in collaboration with an artist nicknamed Slimesunday.

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Trading volumes in unique tokens have taken a serious hit amid the recent US banking crisis. Recall that in the last couple of weeks, three major banks in the United States, which actively cooperated with cryptocurrency companies, closed down. And while most cryptocurrencies began to rise in value quickly after this news, things are quite different for NFT.

According to analytics platform DappRadar, trading volumes of unique tokens ranged from $68 million to $74 million a day for some time before the Silicon Valley Bank collapse. Just two days after the March 12 events, unique token trading volumes dropped to $36 million per day, according to Cointelegraph. The collapse was accompanied by a 27.9 percent decline in NFT transactions per day between March 9 and March 11.

On 11 March, analysts counted about 11,440 active unique token traders. This is the lowest value of the figure since November 2021.

But the value of the most affordable tokens from top collections like Bored Ape Yacht Club (BAYC) or CryptoPunks has not dropped as much. Here’s the relevant data.

In other words, popular NFT tokens are still a desirable investment for wealthy crypto-enthusiasts. At their core, they have already become a digital status display tool, as well as a pass to various unique events. However, in the current bear market, events of all kinds are much rarer.

Experts suggest that market players’ attention has been distracted from the NFT sphere by the loss of USDC staplecoin parity against the US dollar. Circle, which issues USDC, held 8 per cent of its own reserves to secure the stablcoin with SVB Bank. The news of this led to massive sales of USDC, which caused the loss of parity for a while. However, the situation has now returned to normal.

We checked out what’s happening with NFT over the weekend. The most popular blockchain for NFT trades over the past 24 hours continues to be Etherium, accounting for the equivalent of $21.5 million in trades. Second place goes to Solana with $3.6 million. Accordingly, trading volumes with unique tokens are even now in the tens of millions of dollars.


It looks like the last year and a half has been a brutal lesson for Playboy representatives. Although the company made a nice profit following the release of the NFT collection, it has not been able to sustain the profits made. It can be assumed that next time management will behave much more cautiously and will not forget the assets at its disposal.


You can always find more interesting news about crypto in our cryptochat. There we will discuss other important events that lead to changes in digital asset price charts.