GameSquare Bets Big on Ethereum, Expands Crypto Treasury Program to $250 Million
Staff Writer • 2025-07-22
With a new NFT yield strategy and $30 million ETH buy, the company is turning digital assets into a growth engine FRISCO, Texas — GameSquare Holdings (Nasdaq: GAME) is doubling down on crypto—and then some. The media and tech company announced it has expanded its digital asset treasury program from $100 million to $250 million, a bold move that places Ethereum and NFTs at the center of its long-term capital strategy. This isn’t just another corporate ETH buy. GameSquare is launching a yield-generating treasury model that turns idle crypto holdings into active capital. With a fresh $30 million Ethereum purchase added to the books—roughly 8,351 ETH at an average price of $3,592—the company’s total ETH stash now stands at just over 10,170 ETH. But the bigger story is what they plan to do with it. "We're not just holding Ethereum—we're putting it to work,” said CEO Justin Kenna. “This is a multi-year growth strategy focused on creating shareholder value, not a hedge.” Enter the NFT Yield Era As part of the expanded framework, GameSquare is allocating an initial $10 million to a new NFT yield strategy. The company will acquire Ethereum-native digital assets—think culturally iconic art and collectibles—and use DeFi protocols to generate stablecoin returns in the 6% to 10% range. That puts GameSquare among the first public companies to weave NFTs into an institutional-grade treasury management model. It’s a bold bet that NFTs, long viewed as speculative, can become productive assets in a diversified digital portfolio. The company is leveraging Dialectic’s Medici platform, which combines machine learning with multi-layered risk controls to target onchain yields between 8% and 14%—well above the current 3–4% benchmark from ETH staking alone. The Institutionalization of DeFi To oversee this strategy, GameSquare has formed a dedicated digital asset investment committee and partnered with Ryan Zurrer of Dialectic and Rhydon Lee of Goff Capital. Strict internal controls, security protocols, and compliance reviews are in place to ensure the program doesn’t veer into risky territory. “This reflects the future of capital strategy for modern media companies,” Kenna said. “We’re leveraging our creative, gaming, and media DNA to understand the cultural and economic value of digital assets in a way few others can.” The move aligns with broader institutional momentum around Ethereum and decentralized finance. But while others are still building strategies on paper, GameSquare is executing—staking its position as one of the few public companies operating an active, onchain, ETH-native treasury engine. A Flywheel for Growth The company says returns from its crypto treasury won’t just sit in the balance sheet—they’ll help fund product innovation and reinvestment across GameSquare’s platform. With subsidiaries like FaZe Clan and a vast media footprint targeting Gen Z and Gen Alpha, the firm sees crypto not as a side bet but a core advantage. “GameSquare isn’t just trying to win a race for who can acquire the most ETH,” Kenna said. “We’re building a flywheel where digital assets create recurring yield that fuels our broader growth story.” In a media landscape hungry for sustainable monetization and a crypto market moving toward utility over speculation, GameSquare’s approach stands out. If the bet pays off, it could serve as a blueprint for how digital-first companies blend culture, capital, and code to build the next generation of high-performing media businesses.
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