<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <previousAccessionNumber>0001193125-24-257268</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0002044274</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock, par value $0.0001 per share</securitiesClassTitle>
      <dateOfEvent>08/25/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001803914</issuerCIK>
        <issuerCUSIP>72814P109</issuerCUSIP>
        <issuerName>Playboy, Inc.</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">10960 Wilshire Blvd.</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Suite 2200</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Los Angeles</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">CA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">90024</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Raffaele Zucca Alessandrelli</personName>
          <personPhoneNum>352 261 11 81</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">44 avenue John F. Kennedy</street1>
            <city xmlns="http://www.sec.gov/edgar/common">Grand Duchy of Luxembourg</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">N4</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">L-1855</zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0002044274</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Docler Holding S.a r.l.</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>AF</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>14900000.00</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>14900000.00</sharedDispositivePower>
        <aggregateAmountOwned>14900000.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0002044291</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Byborg Enterprises S.A.</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>14900000.00</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>14900000.00</sharedDispositivePower>
        <aggregateAmountOwned>14900000.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0002044453</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>The Million S.a. r.l.</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>WC</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>14900000.00</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>14900000.00</sharedDispositivePower>
        <aggregateAmountOwned>14900000.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>13.9</percentOfClass>
        <typeOfReportingPerson>OO</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, par value $0.0001 per share</securityTitle>
        <issuerName>Playboy, Inc.</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">10960 Wilshire Blvd.</street1>
          <street2 xmlns="http://www.sec.gov/edgar/common">Suite 2200</street2>
          <city xmlns="http://www.sec.gov/edgar/common">Los Angeles</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">CA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">90024</zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item5>
        <percentageOfClassSecurities>Item 5(a) of the Schedule 13D is hereby amended and restated as follows:

The information set forth in rows 11 and 13 of the cover pages to this Schedule 13D is incorporated by reference. The percentages set forth in row 13 were calculated based on 107,548,055 shares of Common Stock outstanding, as reported by the Issuer in its Current Report on Form 8-K filed with the Securities and Exchange Commission on August 25, 2025.</percentageOfClassSecurities>
      </item5>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Docler Holding S.a r.l.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Raffaele Zucca Alessandrelli</signature>
          <title>Raffaele Zucca Alessandrelli/Class B Manager</title>
          <date>08/26/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Byborg Enterprises S.A.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Raffaele Zucca Alessandrelli</signature>
          <title>Raffaele Zucca Alessandrelli/Director</title>
          <date>08/26/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>The Million S.a. r.l.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Raffaele Zucca Alessandrelli</signature>
          <title>/s/ Raffaele Zucca Alessandrelli/Sole Manager</title>
          <date>08/26/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>