GameSquare partners with Animecoin to expand its crypto treasury

Gaming holding company GameSquare Holdings, Inc. (NASDAQ: GAME) has officially announced a partnership with the Animecoin Foundation.

According to a release, the media and entertainment company will become the agency of record for Animecoin to help expand its reach and strengthen its position in the gaming space. GameSquare will receive $2.5m (~£1.84m) worth of Animecoin for its creative and agency services at the end of the one-year term.

Additionally, the company will purchase up to $2.5m in Animecoin on the open market, as it looks to help develop physical and digital products and experiences with Azuki, an LA-based anime company operating Anime.com and creating original IP. Animecoin will also be featured on the jersey of FaZe Esports, GameSquare’s esports organisation.

According to CoinMarketCap.com, Animecoin has a current fully diluted value of over $180m (~£132.6m), with the primary focus of developing and growing the entertainment ecosystem across gaming and anime.

GameSquare has recently increased its crypto asset treasury, approving a 150% increase to its Ethereum treasury programme and boosting the investment capacity up to $250m (~£186.2m).

The company recently acquired a CryptoPunk NFT for $5.15m (~£3.83m) from DeFi pioneer Robert Leshner, along with $10m in Ethereum. Prior to the partnership with Animecoin, GameSquare had already deployed $52m (~£38.3m) of its $250m treasury programme.

This is part of GameSquare’s diversified digital asset strategy, creating a self-reinforcing investment cycle with Web3 revenues. Aside from a treasury strategy with annualised yields, the company is also looking to invest in art and cultural assets and use the company’s creative, agency, and esports business to help grow global audiences, creating more potential upside.

GameSquare is looking to improve its financial position after recording losses of $16m (~£11.79m) in 2024. The first quarter of FY 2025 saw the company record revenue of $21.1m (~£15.55m) with adjusted EBITDA losses of $3.4m (~£2.51m). On August 14th, GameSquare is expected to host its Q2 2025 earnings call.

Justin Kenna, CEO of GameSquare, commented on the partnership: “Our onchain strategy is producing real, scalable results by adding yield-generating assets to our treasury, contributing to our revenue growth, and creating cultural partnerships that expand our brand.

“With more than 15 crypto-native deals in active discussions, our pipeline is deep, and the market opportunity is growing quickly.”