Atari Is Back in the Game
It looks like Atari is planning to release two cryptocurrencies with Infinity Networks in the future. One is the Atari Token, which will act as the foundation for a new digital entertainment platform that includes classic IPs like Pac-Man. The other is Pong Token, which will be used for this gaming platform and with online casinos.
Back in 2011, Atari went bankrupt. But the company managed to pull itself out of the hole using the Atari Casino, which is a social gambling platform. Now, in partnership with Infinity Networks, they’re continuing to move forward.
The company’s new platform will be built on blockchain technology. And it sounds like Atari’s new 15 percent stake in Infinity Networks was not a cash pay-out, suggesting that it was an exchange for licensing rights to Atari’s library of gaming IP.
“Blockchain technology is poised to take a very important place in our environment and to transform, if not revolutionize, the current economic ecosystem, especially in the areas of the video game industry and online transactions,” said Frédéric Chesnais, CEO of Atari. “Given our technological strengths with the development studios, and the global reputation of the Atari brand, we have the opportunity to position ourselves attractively in this sector. Our objective is to take strategic positions with a limited cash risk, in order to optimize the assets and the Atari brand.”
The move isn’t that surprising, especially since many people in the industry are setting their eyes on cryptocurrency. Soon, many subscription-based services, downloadable content, and eSports registrations will likely be transferred from flat currency to cryptocurrency.
And given that Atari’s stock jumped 60 percent following the announcement, it looks like the market has a lot of faith in the relationship between gaming and cryptocurrency.
Unfortunately, there’s no word on whether this move will affect the Ataribox.