GameSquare, a digital media company, recently acquired a rare CryptoPunk NFT for $5.15 million using preferred shares. Previously owned by Robert Leshner, founder of the decentralized lending protocol Compound, this CryptoPunk features unique traits and is one of the rarest in the collection. GameSquare plans to leverage the NFT as a treasury asset and is borrowing stablecoins against it to generate yield. The company, which holds approximately 12,900 ETH valued at $48 million, aims to utilize a part of its treasury for NFT investments, reflecting growing interest in high-quality digital collectibles. Notably, GameSquare's stock saw a 72% increase in value over the past month, aligned with the rise of Ethereum prices. This acquisition marks a strategic move in the NFT space, reinforcing GameSquare’s dedication to maximizing shareholder value through digital assets.

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