PLBY Group (PLBY), the parent company of Hugh Hefner's Playboy, said it took an impairment loss of $4.9 million on the Ethereum it held last year, as crypto winter saw a significant decline in the broader market prices.

The lifestyle and media company said that it accepted Ethereum as payments for its “Rabbitars” non-fungible tokens (NFTs) launched in 2021, which it holds in its balance sheet as digital assets, according to an annual filing on Thursday. The value of the digital assets sits at $327,000 as of last year, the filing said.