🔥Why did the company GameSquare buy an NFT? 🤔
Imagine a world where companies not only buy stocks or real estate but also super exclusive digital art! That’s exactly what GameSquare did, a
digital media company. They acquired a unique "cowboy ape," CryptoPunk #5577, for the impressive sum of $5.15 million. But it wasn't just an extravagant purchase; GameSquare sees this as a strategic investment to enhance their marketing, build community, and explore new business opportunities.
To understand why this purchase is so important, it's essential to know that CryptoPunks are valuable and historic items in the world of digital art. Created in 2017, long before most people knew what a #nft was, they inspired the entire modern art movement #cripto . They are pioneers in the idea that you can own something digitally in a verifiable way. In addition to acquiring the CryptoPunk, GameSquare didn’t stop there: they also significantly increased their ether (#ETH ) reserves, the cryptocurrency of the #Ethereum network. Now, GameSquare owns 12,913 ETH, valued at nearly $48.5 million.
This strategy of accumulating ETH is not exclusive to GameSquare. More and more companies, especially in the media, entertainment, and gaming sectors, are seeing
ETH as a smart way to generate passive income and venture into the future of the web, known as Web3. Companies like SharpLink Gaming are already significant holders of ETH.
It's a way to bet on the Ethereum ecosystem, which spans from NFTs to decentralized finance. Do you think we will see more companies adopting this bold digital strategy in the future?
👉More crypto updates ...
Share and follow me for more 👈😎