GameSquare takes a significant step in developing its cryptocurrency portfolio, announcing the acquisition of Ethereum and the expansion of its crypto treasury.
Ethereum Purchase and Its Significance
GameSquare announced the acquisition of 8,351 ETH at an average price of $3,592, amounting to approximately $30 million. This purchase is part of a broader strategy to strengthen the digital asset portfolio, which is becoming a central element of the company's financial planning.
Expansion of GameSquare's Crypto Treasury
The company's board has approved a significant expansion of its crypto treasury allocation, raising the cap from $100 million to $250 million. An initial $10 million has also been earmarked to explore revenue opportunities in the NFT space, signaling growing confidence in the long-term cultural and financial value of non-fungible assets.
Asset Strategy and Management
To fine-tune its strategy, GameSquare has brought on industry veterans Ryan Zurrer from Dialectic and Rhydon from Goff Capital. Their role will focus on managing and optimizing the crypto treasury, particularly with Ethereum-based assets and generating stablecoin yields between 6% and 10%. CEO Justin Kenna emphasized that the company's experience in gaming and digital entertainment positions them well to identify the value of digital collectibles and Web3-native assets.
With this aggressive expansion, GameSquare joins a growing list of companies treating crypto not just as an asset class, but as a strategic pillar for growth and innovation.
