Atari, on Saturday, confirmed that they are entering the crypto market with their new cryptocurrency coin Atari Token.
The news itself make Atari share market go up by 60%. That’s a huge jump for Atari as this can be a game-changing move by them.
Atari’s CEO Frederic Chesnais believes in the blockchain. He further stated, “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. Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and the Atari brand.”
Atari is a popular gaming company, and they established their empire in the 1980s. They released games like Space Invaders and Pacman. Atari dominated the market initially, but couldn’t carry the momentum later on. In 2013, they went bankrupt and were acquired by Infogrames.
Blockchain can give them another chance to make big in the gaming industry.
They are also poised to release their next console, Ataribox. It is for their old customer base and aims to make players re-live their moments with old Atari games.
A blockchain-powered entertainment platform has developed the Atari token. A partnership is established with the company as Atari is now looking for ways to re-enter the market and improve their market share. The token might also be used for expanding partnership with other companies including PariPlay, a gambling company. Digital currencies are the future and Atari is seriously aiming to grow with it.
Releasing platform tokens is not new. Refereum, for example, is already building a platform around entertainment and sports.
Kodak also did a similar thing when they revealed their plan to launch their own Kodak coin. They also saw a rapid rise in their share price.