Playboy’s Metaverse Vision Can Double The Stock Price
Following in the footsteps of Facebook’s decision to rename its brand as Meta, Playboy is revving up its entry to a Metaverse of digital and real-world opportunity as its successful SPAC launch will further transform and propel its brand into a global lifestyle.
PLBY’s share price has shot up 263 percent since it launched in January of 2021, largely down to stellar acquisitions, the likeable CEO Ben Kohn, and its slimmed-down team of forward-looking Gen Z and Generation Alpha marketing geniuses.
The Edge (the leading research source in under-performing companies for activist involvement, Special Situations and Spinoffs) interviewed exclusively over Zoom with Mr. Kohn to get the lowdown on his futuristic vision for the brand.
Playboy, a brand still many in the mainstream mistakenly consider just a top shelf magazine, was taken private in January 2011. Now, nine years later, it relaunched in January 2021 and transformed its business model. It now describes itself as a consumer products company that includes sexual wellness, clothing and gaming. The magazine was shelved and is destined never to return. The company now puts its famous bunny logo on products like lingerie, digital gaming and grooming. It is no longer connected to the Hefner dynasty; however, they are honoring founder Hugh Hefner’s original vision: Creating original pieces of art in the shape of cartoon bunnies that reflect Hugh’s cartoon-loving character from the original 1953 magazines.
But instead of costing the 1953 price of ¢50, they sell as digital non-fungible tokens (NFT) 3D cartoon bunnies at upwards of $700 a pop. The rabbit colony containing 11,953 artworks is stored live on the Ethereum Blockchain and are available on Opensea. a peer-to-peer marketplace for NFTs, rare digital items and crypto collectibles.
Every “Rabbitar” has more than 175 traits, including fur, ears, facial expressions, apparel, accessories, occupation-related characteristics, and every owner can claim to belong to the Playboy Club.