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GameSquare has acquired CryptoPunk #5577 from the founder of Compound in a $5.15 million USD private stock purchase.
BlockBeats News, July 24th, NASDAQ-listed company GameSquare announced that its board of directors has approved the purchase of CryptoPunk #5577 from DeFi protocol Compound co-founder and Superstate CEO Robert Leshner. According to the acquisition agreement, GameSquare issued $5.15 million worth of preferred shares to Robert Leshner, which can be converted into approximately 3.4 million shares of GameSquare common stock at a price of $1.50 per share. This acquisition marks GameSquare's first direct investment in NFTs.
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