GameSquare CryptoPunk NFT Bet: $5.15M Cowboy Ape Deal Brings Leshner Onboard
Main Idea
GameSquare Holdings acquired the rare Cowboy Ape #5577 CryptoPunk NFT for $5.15M in a strategic investment, expanding its crypto treasury and signaling growing interest in on-chain finance.
Key Points
1. GameSquare purchased the Cowboy Ape CryptoPunk from Robert Leshner, founder of Compound, in exchange for $5.15M in preferred stock convertible to shares.
2. The company added $10M worth of ETH to its treasury, bringing its total Ethereum holdings to over $52M as part of a $250M crypto treasury strategy.
3. CryptoPunks are among the earliest NFT collections, with only 24 'Ape' Punks, making Cowboy Ape #5577 a standout rarity.
4. GameSquare plans to use the NFT for community activations and marketing, partnering with 1OF1 AG to manage its NFT yield program.
5. The NFT market surged 21% to $6.3B, driven by renewed interest in Ethereum-based collections, including high-profile CryptoPunk purchases.
Description
GameSquare Holdings, Inc. (Nasdaq: GAME), a media and tech firm focused on Web3, has made a bold move into the world of digital collectibles with a new purchase. GameSquare has acquired the iconic Cowboy Ape #5577 CryptoPunk from DeFi pioneer @rleshner in a $5.15M strategic investment. We also added $10M of ETH to our treasury, bringing total Ethereum treasury holdings to over $52 million. pic.twitter.com/U2LFaPqECm — GameSquare Holdings Inc. (@GSQHoldings) July 24, 2025 In a press release share...
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