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GameSquare has increased its ETH holdings by 8,351 coins and has been granted an additional $150 million in cryptocurrency asset allocation.
BlockBeats News, July 22, GameSquare (ticker: GAME) recently acquired approximately 8,351 Ethereum (ETH) tokens at a weighted average price of around $3,592, totaling approximately $30 million.
The Nasdaq-listed media and entertainment company announced on Monday that its board of directors has increased the authorization of its digital asset treasury management from the original $100 million to $250 million. As part of this initiative, the board has also approved a new NFT revenue strategy with an initial funding allocation of $10 million. The company has also established strategic partnerships with Ryan Zurrer of Dialectic and Rhydon of Goff Capital to collectively manage and optimize its cryptocurrency treasury project.
This updated treasury framework will enable GameSquare to actively deploy capital into high-quality Ethereum ecosystem assets and achieve a sustainable annualized return of 6% to 10% through a stablecoin yield strategy. To date, GameSquare has purchased approximately $35 million worth of ETH within its $250 million authorization limit. As of July 21, the company holds approximately 10,170.74 ETH.
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