Atari eyes crypto currencies for future operations

News on 17 Feb 2018

Games technology company Atari has revealed that part of its revitalisation and relevance strategy will be the introduction and operational use of cyber currency equivalents to Bitcoin.

The Paris-based firm revealed in a statement this week that it plans to launch  two new cryptocurrencies which will be branded Atari Token and Pong Token, and these will be linked to a plan establishing a wide digital entertainment platform, where the Atari Token will be dominant.

The Pong token will be reserved for use as a digital currency for online casino operations, although full details of the company’s intentions are not yet available.

Atari CEO Frédéric Chesnais said in a press statement this week:

“Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and Atari brand”.

The company statement triggered a surge in demand for its shares, which soared in value by 60 percent on Chesnais’s view that Atari has an opportunity to position itself attractively in the cyber currency sector.

“Blockchain technology is poised to take a very important place in our environment and to transform, if not revolutionise, the current economic ecosystem, especially in the areas of the video game industry and online transactions,” the executive opined.

Atari’s plan involves partnering with established players in the digital entertainment and online casino platforms sector. For its entry to internet-based gaming, Atari sealed a deal with Pariplay Ltd., purportedly for exclusive use of the former’s new digital money (see previous reports).

Atari has also tapped a company titled Infinity Networks for licensing and brand-use agreements that will see the company’s iconic brand on various digital entertainment products.

Atari is looking to generate revenues and royalty fees from the tie-up, and the agreement includes an obligation for Infinity to build Atari’s blockchain-based platform that will carry the brand name on multiple ventures such as video games, movies, and music.

The company is playing its cards close to its chest regarding a debut date for the new Atari-branded Bitcoins.

Related and similar