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GameSquare gets approval to add an additional $150 million to its crypto treasury and increases its holdings by 8,351 ETH
Odaily News Nasdaq-listed media and entertainment company GameSquare (stock code: GAME) announced that it will increase its digital asset treasury management authorization limit from US$100 million to US$250 million, and increase its holdings of 8,351 ETH at an average price of US$3,592, with an increase of approximately US$30 million. The current total ETH holdings are 10,170.74.
As part of the new treasury plan, GameSquares board of directors approved a $10 million NFT revenue strategy and established a strategic partnership with Ryan Zurrer of Dialectic and Rhydon of Goff Capital. The company said it will focus on allocating high-quality Ethereum ecosystem assets, aiming to achieve a 6%-10% stablecoin return.
GameSquare CEO Justin Kenna said the company is one of the first listed companies to incorporate NFT into its diversified digital asset strategy. Earlier this month, the companys stock price rose sharply after its board of directors approved a $100 million ETH treasury plan, and last week it completed a $70 million public fundraising to increase its holdings of ETH. (The Block)
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