According to BlockBeats, GameSquare, a Nasdaq-listed media and entertainment company, recently acquired approximately 8,351 Ethereum (ETH) at a weighted average price of around $3,592, totaling about $30 million.
The company announced on Monday that its board of directors has increased the authorization for managing its digital asset treasury from $100 million to $250 million. As part of this initiative, the board also approved a new NFT revenue strategy with an initial allocation of $10 million. GameSquare has formed strategic partnerships with Ryan Zurrer from Dialectic and Rhydon from Goff Capital to jointly manage and optimize its crypto asset treasury project.
The updated treasury framework will enable GameSquare to actively invest in high-quality Ethereum ecosystem assets and achieve sustainable returns of 6% to 10% annually through stablecoin yield strategies. To date, GameSquare has purchased $35 million worth of ETH within its $250 million authorization. As of July 21, the company holds approximately 10,170.74 ETH.