Corporate Ethereum Acquisitions Continue: New Strategy Aims for 250 Million Dollars!
GameSquare has decided to expand its Ethereum (ETH) investments while implementing a new NFT-focused strategy to increase its crypto treasury to up to 250 million dollars.
The media and entertainment company GameSquare, listed on Nasdaq, continues to grow its cryptocurrency investments. The company's board of directors has raised the current crypto treasury authority from 100 million dollars to 250 million dollars while also launching a new NFT strategy based on Ethereum. An initial allocation of 10 million dollars has been earmarked for this strategy.
Recently, GameSquare purchased 8,351 units of Ethereum at an average price of 3,592 dollars. With this move, the company's total ETH holdings reached approximately 10,171 units, with a market value of around 38 million dollars. In line with the new plan, the company aims to invest in high-quality Ethereum-based assets and achieve stablecoin returns ranging from 6% to 10%.
NFTs Included in Treasury Strategy
GameSquare CEO Justin Kenna expressed excitement, stating, "We are thrilled to be one of the first publicly traded companies to make NFTs a part of our diversified digital asset strategy." The company supports this new strategy through collaborations with experienced investors like Ryan Zurrer (Dialectic) and Rhydon (Goff Capital).
Recently, giants like Strategy have established Bitcoin-focused treasury policies, increasing institutional investors' interest. As an extension of this trend, companies like GameSquare are trying to take a pioneering position in crypto asset management with new strategies centered on Ethereum investments and NFT returns.
So far, GameSquare has made a total of 35 million dollars in ETH purchases under its 250 million dollar authority and continues to expand its investment plans.
