In the digital world, Playboy is on a mission to spread its famous bunny logo.
Thousands of Playboy NFTs with bunny avatars have been distributed by the company, which has also launched a social media platform called Centerfold.
During this time, A&E is airing a documentary about the company’s shady past. Former employees, playmates and ex-girlfriends of Playboy founder Hugh Hefner are claiming the company had a dark side in a 10-part series called “Secrets of Playboy.” Early in January, Playboy’s leadership posted an open letter on the company’s website stating, “today’s Playboy is not Hugh Hefner’s Playboy.”
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Almost five years after Hefner’s death and two years since the last legacy print magazine hit the newsstands, the futuristic moves are being made by the company. The next big challenge for the internet is staging its digital reinvention for the next wave of internet innovation, known as Web3.
It was one of the company’s offerings. Yet Ben Kohn, CEO of Playboy, explained to CNBC that the real prize was a rabbit head worth billions of dollars that could not be duplicated.
The company’s business model, according to Kohn, is broken and needs to be changed, despite the fact that the brand drives billions of dollars in consumer spending around the world through licenced products sold overseas. There is no secret weapon here, but a bowtied rabbit is a big part of the CEO’s solution.
If you think about what this brand represents from a marketing and awareness point of view, we pretty much have 100 percent awareness worldwide, he said. If you look at Nike and Apple as examples, Playboy’s logo is instantly recognisable around the world.
That “inherent value” is the focus of the company’s efforts in the digital world. Playboy disclosed in an SEC filing from last year that it paid $12 million for a Bombardier Global Express BD-700 so that Kohn could unleash the priceless bunny logo not only into space but also across the internet as well.