Gamesquare (NASDAQ: $ Game) gets Cryptopunk #5577 – popularly known as “Cowboy Ape” – from Robert Leshner, founder of the Superstate compound and CEO. The purchase is carried out in exchange for $ 5.15 million in gamesquare preferred stock, replaced with standard shares at $ 1.50 each.
The Cowboy Ape, one of only 24 ape sunks in the original 10,000-piece cryptopunk collection, is considered one of the most significant NFTs to become NFTs. A staple of early NFT Lore, it appeared in memes, auction catalogs, and punk trading forums, emerging with a web3-era symbol of digital identity and cultural capital.
Gamesquare CEO Justin Kenna who has been Taking as a milestone to the company’s transformation to a media entity “with crypto in its DNA.” He added, “It’s not just our first grail nft. It’s a sign of how we think differently. We’re proud to have a cowboy ape in the family – and Robert Leshner at our cover table.”
Leshner, a respected pioneer in decentralized finances, emphasized his belief in the direction of Gamesquare: “I am pleased to work with Gamesquare as a shareholder and support the team as they change the strategy of digital-native treasury, in the traditional market and onchain.”
A cultural artifact with financial utility
Beyond a piece of display, Cryptopunk #5577 will serve three roles within the Gamesquare ecosquare ecosystem: as a strategic owner of Treasury, a cultural brand signal, and a key element of the NFT’s NFT’s NFT’s NFT yield. Gamesquare aims to extract a 6-10% annual return from high-end NFTs by seizing platforms dedicated to yields such as 1OF1 AG, led by Crypto Art collector Ryan Zurrer.
Expanding a digital-native treasury approach
The Cowboy Ape acquisition fits into the Gamesquare asset program, which includes more than $ 52 million in ETH and a $ 250 million ark permission. The firm disposes of a custom ETH yield approach, which targets 8-14% annual return through the Dialectic Medici platform.
So, Gamesquare is exploring the tokenization of $ game equity with the Superstate, a step that can bring its shares to Onchain and further align the company with a decentralized financial metal.
By embedding digital assets in its ark, brand, and creative operation, the Gamesquare positions itself as one of the few companies that has been publicly exchanged with crypto with long-term strategic intentions.
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