Nasdaq-listed digital media firm GameSquare acquired a rare CryptoPunk NFT known as Cowboy Ape #5577 from Compound founder Robert Leshner for $5.15 million in preferred stock convertible into common shares.
This deal marks GameSquare’s first direct investment in NFTs and is part of its broader blockchain treasury strategy to generate returns through digital assets.
“We also added $10M of ETH to our treasury, bringing total Ethereum treasury holdings to over $52 million,” said GameSquare on X.
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Cowboy Ape #5577 is part of a CryptoPunk collection, which consists of 10,000 pixelated characters, with only 24 being “Ape” Punks.
Market interest and trading volume for NFTs have slowed considerably in the last few years. The floor price of CryptoPunks fell around 67% from a peak of 125 ETH in 2021 to around 49 ETH as of July 2025.
Leshner acquired the Cowboy Ape #5577 in 2022 for $7.7 million
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