Legendary gaming company Atari is to launch its own cryptocurrencies to use on its own igaming decentralized platform.
iGaming is a rapidly growing industry, and with the capabilities of blockchain and online gaming combined.
Indeed it’s no surprise Atari wants a piece of the action.
Atari launched 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.
It’s Not Atari First Foray Into Crypto
It’s no secret that Atari is heavily invested in crypto innovation.
The gaming giant revealed back in 218 that it was partnering Infinity Networks, Ltd (INL) with the sole purpose of creating a blockchain gaming project.
However, the project took too long for Atari’s liking.
As a result, the gaming giant decided to terminate the partnership.
They have since signed a new partnership with the ICICB Group, which will lead the new blockchain project.
According to their 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.
They are also working on the liquidity of the Atari Token. They are doing this 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.
Moreover, in a twist, the gaming powerhouse also said it would be releasing a second token. This is the “Pong Token”, named after the 1970s timeless classic, Pong.
The SA CEO, Frédéric Chesnais talked of the companies excitement 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.
However, they were quick to claim it intended to stay true to its root.
This came 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.
However, like any company, it must evolve, and it sees cryptocurrencies and blockchain as the way forward.
It will be interesting to see how Atari’s new igaming venture into crypto pans out.
However, 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