GameSquare Holdings has made headlines by acquiring CryptoPunk #5577 for $5.15 million in preferred shares, officially classifying the NFT as a treasury asset.
This unusual move hints at a potential shift in corporate strategy—where NFTs, like Bitcoin, might play a role in long-term reserves.
The idea is gaining traction in the NFT world. Leaders from Yuga Labs and Art Basel believe NFTs can offer more than just speculative value, blending financial utility with cultural influence. Some even predict the rise of companies built entirely around NFT holdings.
Recent market data adds fuel to the theory. July saw NFT trading volume spike, with Ethereum-based sales hitting highs not seen since 2022. Collections like CryptoPunks and Pudgy Penguins led the charge.
Still, critics remain unconvinced. Solana co-founder Anatoly Yakovenko dismissed NFTs as hollow hype, comparing them to video game loot boxes.
GameSquare’s move might be early—but it could signal a future where digital art isn’t just collectible, but corporate.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/5m-nft-becomes-gamesquares-latest-treasury-asset/