GameSquare Acquires CryptoPunk NFT for $5.15 Million

Publicly traded company GameSquare has added a CryptoPunk NFT to its treasury, purchasing it for $5.15 million from the previous owner.

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

Former token holder Robert Leshner received approximately 3.4 million preferred shares of the firm as part of the deal, convertible into common stock at $1.5 per share.

Leshner, the founder of Superstate and Compound, purchased CryptoPunk #5577 in February 2022 for 2501 ETH, then valued at around $7.7 million.

“This is not just our first NFT grail, it signals that we think differently and are expanding our presence in digital culture, creating a next-generation media company with cryptocurrency in its DNA,” stated GameSquare CEO Justin Kenna. stated GameSquare CEO Justin Kenna.

Additionally, Leshner has taken on the role of digital assets advisor for the firm.

The company also announced a $10 million purchase of additional ETH, bringing its Ethereum holdings to approximately $52 million.

In total, GameSquare plans to allocate $250 million for Ethereum acquisitions.

The firm’s shares, trading under the ticker GAME, remained unaffected by the news, currently priced at $1.3.

However, in early July, the company’s shares surged by 60% following the announcement of the Ethereum reserve creation.

The market capitalization of the non-fungible token segment exceeded $6 billion after the purchase of a rare CryptoPunk for $7.8 million.