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Game maker Atari join hands with crypto-world

Game maker Atari join hands with crypto-world

February 20, 2018 8:38 am,

Atari remains one of the legendary game maker with Pac-man and Pong being some of the games in their makings. So what’s its next plan? Cryptocurrency. Entering the crypto-street. Launching its own cryptocurrency. Yes, you heard that correctly, Atari is launching its own cryptocurrency called the “Atari Token.”

Atari is taking a stake in a company that’s building a blockchain-based digital entertainment platform and, as part of that agreement, it will create its own digital currency called Atari Token. The company is also expanding its online casino-gaming partnership with Pariplay Ltd. to allow gambling with digital currencies.

Here’s Atari CEO Fred Chesnais speaking about this idea: “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. 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.

He also says, “The second project in progress is the strengthening of the partnership with Pariplay, Ltd in the launch in 2018 of casino platforms allowing players to bet either in real money or with most crypto-currencies currently outstanding. These casino sites will offer many Atari games. To broaden the appeal of these new casinos, and once the Atari Token available, Atari has the project to launch Pong Token, a second Token dedicated to crypto-casinos and usable on these gaming sites. The details of this launch of crypto-casinos will be announced soon.”

We also note that Atari isn’t the only company benefiting from the crypto boom. Two days after announcing it would partner with a blockchain company, Eastman Kodak Co.’s stock jumped 245-percent too.

Few things to note are:

  • Despite the lack of details, shares in Atari SA are up around 60 percent since the announcement.
  • The same happened in the market for similarly vague crypto-related announcements from Kodak, the Long Island Iced Tea Company, and a Hooters franchise.
  • This excitement seems undamped by the recent plunge in the prices of cryptocurrencies like Bitcoin.
  • If the name “Atari Token” sounds familiar, it might be because previously the firm used that name for its own cross-platform reward points system. This system could be used to fuel in-game microtransactions.
  • The company will actually launch two separate currencies: The Atari Token, to be used on digital gaming platforms, and the Pong Token, for online casinos.

Read more about this news here: https://www.engadget.com/2018/02/16/atari-token-cryptocurrency/