GameSquare Makes Power Move: Acquires CryptoPunks in Preferred Shares Deal as NFT Treasury Debate Heats Up

GameSquare just flipped the script—snagging CryptoPunks not with cash, but preferred shares. The deal’s got everyone talking: Are NFTs the new corporate treasury asset? Or just another play for clout in the volatile crypto casino?

Here’s the kicker: This isn’t just about JPEGs. It’s a bet on blockchain’s staying power—and a middle finger to traditional finance’s dusty rulebook. Wall Street analysts are already sweating over their spreadsheets.

One thing’s clear: When companies start treating digital monkeys like gold bars, the game’s changed. Whether that’s genius or gambler’s logic? Your call.

Are NFTs returning in 2025?

The GameSquare deal is starting to look similar to the creation of crypto treasuries, though this time, the company acquires an NFT. The appeal of NFTs returned as ETH broke above $3,800, sparking hopes for a return to valuable on-chain art. 

In the past weeks, the NFT sector recovered, boosting the floor price of top collections. NFT items rallied after several quarters of decline, driven by the long downtime of OpenSea. Currently, NFTs are coming back in fashion, with Ethereum minting a special item to mark its 10th anniversary.

Influencer Arthur Hayes commented that CryptoPunks may become a prominent collection again, surpassing Ethereum’s appeal. 

Yat Siu, the chairman of Animoca Brands, also believes NFTs will return this bull cycle and boost Ethereum’s influence. 

CryptoPunks retain top status

CryptoPunks recovered its floor price to over 48 ETH, raising the value of the entire 10,000-item collection. The current price floor is the highest since March 2024, and marks a six-month expansion. 

The collection grew its trading to over 690 ETH per day. CryptoPunks are considered a blue chip NFT, and among the few to be offered through a Sotheby’s auction. 

The collection is drawing attention, as the items are also connected to DeFi. One personal collection is used as collateral to borrow $15M. To retain the 112 items acquired at launch for just $200, the early buyer pays $5,500 in daily interest. In the meantime, the collection has grown in value, and the backstory of the NFTs makes them even more interesting. 

The usage of NFTs as collateral may also be a precursor to corporate collections, especially for Ethereum treasury companies. So far, no BTC treasury company has owned Ordinals, unless the collectible items were sent as a gimmick to the treasury wallets.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage