Atari is riding the cryptocurrency wave with the impending launch of its own virtual currencies – the Atari Token and the Pong Token. The Atari Token is designed to be utilized in digital gaming platforms. Meanwhile, the Pong Token is meant for online casinos. Though details are currently still sketchy, the CEO of Atari – Frédéric Chesnais – explained the reason for Atar’s decision to join the virtual currency world. He declared, “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.” Chesnais added, “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.”
In preparation for Atari’s foray into cryptocurrency via the Atari Token, it has secured a minority stake in Infinity Networks – a company aiming to develop a blockchain decentralized technology for platforms that provide digital entertainment. Atari Token is similarly looking into boosting the company’s gambling business presence in Europe. The company also plans to collaborate with PariPlay – an online casino company – for its Pong Tokens. In Chesnais’ interview with BBC, he declared, “Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and Atari brand.”
Atari’s announcement follows Kodak’s own plans to release its unique Kodak Coin.Since Atari’s 1972 start with electrical engineer and businessman Nolan Bushnell, the company has gone through numerous changes. Most recently, Atari was seen in the news for its announcement of a new console as well as the creation of a hat with bluetooth speakers built into it. The console has yet to be released though, while the hat is currently available for purchase for $130. Since Atari’s announcement of its upcoming cryptocurrencies, its shares increased by 60%.