Legendary gaming company Atari is to launch its own cryptocurrrencies to be used on its own decentralized platform with the aim of hosting multiple gaming and digital entertainment.
iGaming is a rapidly growing industry, and with the capabilities of blockchain and online gaming combined, it’s no surprise Atari want a piece of the action.
Atari was founded in 1972 in Sunnyvale, California, but ownership has changed several times since then. The company currently belongs to Atari Interactive, a subsidiary of the French publisher Atari, SA, which have knowingly had a keen interest in the crypto space.
It’s Not Atari’s First Foray Into Crypto
It’s no secret that Atari are invested heavily in crypto innovation. The gaming giant revealed back in 2018 that it was partnering Infinity Networks, Ltd (INL) with the sole purpose of creating a blockchain gaming project.
However, the project, which was meant to have its own ‘Atari Token’, was taking too long for Atari’s liking and the gaming giant decided to terminate the partnership.
Atari has since signed a new partnership with the ICICB Group, which will lead the new blockchain project.
According to Atari’s press release,
‘In partnership with the ICICB Group in successive steps through private placements starting as early as March 2020 with a public sale by September 30, 2020. Atari is also working on the liquidity of the Atari Token by facilitating the registration of this token on the main exchange platforms.’
The Atari Token will be the main token, and the Atari Group will be entitled to 35% of the token, but in a twist, the gaming powerhouse also said it would be releasing a second token: ‘Pong Token’, named after the 1970s timeless classic, Pong.
Atari, SA CEO, Frédéric Chesnais said the company was excited about the idea of cryptocurrency enabled online casinos.
‘The area of blockchain and cryptocurrencies is of significant interest to us,’ said Chesnais. ‘Especially in the domains of the video game industry and of online payments.’
It’s also believed that Atari and partners ICICB will launch a new crypto casino by September 30, 2020, but was quick to claim it intended to stay true to its roots, after announcing it would use some of the €3.26 million raised in an equity round to finance the launch of new games.
From early classics like Pong, Pac-Man and Paperboy, Atari is a far cry from what its legion of fans love about it, but like any company it has to evolve, and it sees cryptocurrencies and blockchain as the way forward.
It will be interesting to see how Atari’s new venture into crypto pans out, but if it operates within its gaming theme and develops a payment system into classic games, it will bring a swathe of new fans to its already huge fanbase.
Author: Tommy Limpitlaw