GameSquare gets approval to add an additional $150 million to its crypto treasury and increases its holdings by 8,351 ETH

PANews reported on July 22 that according to The Block, Nasdaq-listed media and entertainment company GameSquare (stock code GAME) announced that it would increase its digital asset treasury management authorization from $100 million to $250 million. The company recently purchased 8,351 ETH (worth about $30 million) at an average price of $3,592, bringing its total Ethereum holdings to 10,170.74. As part of the new treasury plan, the board of directors approved an NFT income strategy with an initial capital of $10 million 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 ecological assets, aiming to achieve a 6%-10% stablecoin return.

GameSquare CEO Justin Kenna said the company became one of the first public companies to incorporate NFT into its diversified digital asset strategy. Earlier this month, the company's stock price rose sharply after its board of directors approved a $100 million Ethereum treasury plan, and last week it completed a $70 million public offering to increase its holdings of ETH.