GameSquare Acquires CryptoPunk #5577 for $5.15 Million

• Lyla Velez
• July 24, 2025
• NFT
• 0 Comments

GameSquare Holdings Inc. has secured a $5.15M deal to acquire CryptoPunk #5577 from DeFi founder Robert Leshner. The acquisition involved an exchange of preferred stock, enhancing GameSquare’s presence in digital culture.

GameSquare’s Acquisition

GameSquare has officially acquired the iconic CryptoPunk #5577, known for its distinctive Cowboy Ape attribute, from Robert Leshner. The transaction , valued at $5.15 million, was executed through preferred shares of GameSquare. Robert Leshner, a pioneer in DeFi technology and founder of Compound, exchanged the NFT for a stake in GameSquare Holdings Inc.

GameSquare CEO Justin Kenna emphasized the significance of integrating digital assets, highlighting the company’s commitment to expanding its footprint. The purchase did not directly affect on-chain metrics but increased the visibility of CryptoPunks in the NFT market.

“This isn’t just our first grail NFT. It’s a signal of how we’re thinking differently and expanding our existing footprint in digital culture by building a next-generation media company with crypto in its DNA.” — Justin Kenna, CEO, GameSquare Holdings Inc.

The acquisition of CryptoPunk #5577 was completed through a stock transaction rather than a direct crypto payout. GameSquare also added $10 million in Ethereum to its treasury, now surpassing $52 million in Ethereum holdings. The integration of Robert Leshner’s connections may further boost GameSquare’s industry prestige.

GameSquare’s strategy aligns with historical trends of institutions acquiring NFTs for treasury reserves. Leshner’s decision to exchange for stock suggests confidence in GameSquare’s potential growth. The acquisition underscores a shift towards NFTs in corporate asset management.

Potentially, this acquisition could influence more companies to explore NFTs as part of their treasury strategy. The move strengthens GameSquare’s position in the digital assets sector, while Leshner’s role may enhance partnerships within the DeFi space.