GameSquare acquires CryptoPunk #5577 for $5.15 million and increases its holdings by 12,913 ETH

PANews reported on July 24 that GameSquare Holdings (NASDAQ: GAME) announced that it had acquired the rare "Cowboy Ape" CryptoPunk NFT (No. 5577) from DeFi pioneer and Compound founder Robert Leshner for $5.15 million in preferred stock. This is the first time GameSquare has directly invested in NFTs, and plans to incorporate it into the NFT income strategy with an annualized return target of 6-10%. At the same time, the company added 12,913 ETH at an average price of approximately $3,646/ETH, with a total holding of $52 million. GameSquare will also work with Superstate to explore blockchain-based share tokenization and continue to advance the Web3 strategy and digital asset income plan.