Video game developer, Atari has announced plans to break into the cryptocurrency market, with the launch of an Atari token based on blockchain technology, the company said in an announcement earlier this month. The news, on Feb 8, saw Atari’s share price jump more than 60 per cent.
Atari is developing a decentralized platform giving access to a wide range of video games, movies and music, powered with the Atari Token, according to its statement.
“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 video game industry and online transactions,” said Frédéric Chesnais, CEO of Atari, SA, in a statement. “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.”
Atari also announced its acquisition of a 17.5 percent stake in Gibraltar-based Infinity Networks, a company with an advisory board that brings together leading figures from the blockchain field, according to Atari. In exchange for equity interest, earnings and future royalties, Atari has granted Infinity Networks a long-term license to use the Atari brand.
Additional projects in the field of cryptocurrencies, especially in crypto-casinos, are also underway, said the company’s statement.
