{"id":5681,"date":"2025-07-24T15:24:11","date_gmt":"2025-07-24T15:24:11","guid":{"rendered":"https:\/\/bitunikey.com\/news\/gamesquare-acquired-cowboy-ape-cryptopunk-for-5-15m\/"},"modified":"2025-07-24T15:24:27","modified_gmt":"2025-07-24T15:24:27","slug":"gamesquare-acquired-cowboy-ape-cryptopunk-for-5-15m","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/gamesquare-acquired-cowboy-ape-cryptopunk-for-5-15m\/","title":{"rendered":"GameSquare acquired \u2018cowboy ape\u2019 CryptoPunk for $5.15m"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">GameSquare decided to promote its NFT pivot with a CryptoPunk deal featuring DeFi pioneer Robert Leshner.<\/p>\n<div id=\"cn-block-summary-block_edcc760cb949b4e3d59353405e4cf255\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>GameSquare bought \u2018cowboy ape\u2019 CryptoPunk<\/li>\n<li>The firm issued $5.15M in preferred stock for the deal<\/li>\n<li>DeFi pioneer Robert Leshner became GameSquare\u2019s shareholder<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Ethereum (ETH) treasury firm GameSquare is doubling down on NFTs. On Thursday, July 24, the company <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/chainwire.org\/2025\/07\/24\/gamesquare-acquires-iconic-cowboy-ape-cryptopunk-from-defi-pioneer-robert-leshner\/?mfk=v+kg+xHRI312ZXUiRsmc6kv6DF0rfIhl67VOdSylUDWRNQo921b5MKkydzNUJF6Bj3yjI534SZUH+Wn84i\/W7YMiVF4zaUhHFjbTaKKyE7JP\" target=\"_blank\">acquired<\/a> the \u2018cowboy ape\u2019 NFT from Compound founder Robert Leshner in an all-equity deal. In a move to promote its NFT pivot, GameSquare issued $5.15 million of preferred stock to Robert Leshner, convertible into approximately 3.4 million stock.  <\/p>\n<figure class=\"wp-block-image size-large\"><picture decoding=\"async\" class=\"wp-image-14399549\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">CryptoPunk #5577 | Source: Chainwire<\/figcaption><\/figure>\n<p>With the sale, Robert Leshner, a DeFi pioneer and the CEO of Superstate, will become a shareholder in GameSquare. He will work with the company on its Ethereum-focused treasury strategy and support its recent pivot to NFTs. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI\u2019m excited to work with GameSquare as a shareholder, and support Justin and the team as they innovate on the digital-native treasury strategy, in traditional markets and onchain,\u201d Robert Leshner stated. <\/p>\n<\/blockquote>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">GameSquare buys CryptoPunk to showcase NFT pivot<\/h2>\n<p>The rare \u2018Cowboy ape,\u2019 one of just 24 CryptoPunk NFTs with an ape-like appearance, will be added to GameSquare\u2019s treasury. According to Justin Kenna, CEO of GameSquare, the company chose this NFT to showcase its belief in the potential for NFT tech. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAcquiring CryptoPunks showcases our belief in the long-term value of digital identity, decentralized ownership, and cultural capital onchain. CryptoPunks are digital artifacts that helped define an era. Adding the Cowboy Ape to our treasury is both a strategic investment and a statement of intent,\u201d Justin Kenna, GameSquare.<\/p>\n<\/blockquote>\n<p>Still, the NFT market is far from its highs in 2021, which applies even to popular collections such as CryptoPunks. The collection\u2019s floor price is currently <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/nft\/cryptopunks\" target=\"_blank\">down 50%<\/a> from its all-time high in October 2021. Smaller collections fared much worse, often losing 99% of their value.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>GameSquare decided to promote its NFT pivot with a CryptoPunk deal featuring DeFi pioneer Robert Leshner. Summary GameSquare bought \u2018cowboy ape\u2019 CryptoPunk The firm issued $5.15M in preferred stock for&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=5681"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5681\/revisions"}],"predecessor-version":[{"id":5683,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/5681\/revisions\/5683"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5682"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=5681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=5681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=5681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}