NFT Treasury Trend Takes Off — GameSquare Becomes First Public Company to Add NFTs to Its Balance Sheet
TradingKey – On Monday, July 21, GameSquare Holdings (GAME), a U.S.-listed media and tech firm, announced it has expanded its digital asset treasury authorization from $100 million to $250 million, with a new allocation dedicated to NFT investments.
Back on July 8, GameSquare launched a $100 million Ethereum treasury, and has since spent $37.5 million to acquire 10,000 ETH. While it’s common for companies to hold BTC, ETH, LTC, or SOL in treasury, NFTs remain largely absent from corporate balance sheets, making GameSquare’s move a first-of-its-kind strategy.
GameSquare’s strategy could include iconic collections such as:
- CryptoPunks
- Bored Ape Yacht Club
- Mutant Ape Yacht Club
- Azuki
- Moonbirds
- Pudgy Penguins
- Doodles
On the same day, Greg Solano, co-founder of Yuga Labs (creator of Bored Ape Yacht Club), posted:
“the world isn't ready for NFT treasury companies but they are coming anyway”
His comment is widely seen as a nod to GameSquare’s pioneering move and a signal of what’s to come.
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