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.