ALL THE LATEST NEWS ABOUT THE BUSINESS OF PC GAMES

News

Of course Atari is launching its own cryptocurrency

Of course Atari is launching its own cryptocurrency

Symbol of 80s games nostalgia and T-shirt company Atari has revealed that it is getting in on the cryptocurrency market.

The French company last week revealed that it would be launching the Atari Token, in partnership with Infinity Networks. This deal - which sees Atari taking a 15 per cent in the Gibraltar-based company - has seen the game firm's shares rise 60 per cent in value since it was alluded to last December.

This is just one cryptocurrency/blockchain project the former games giant is getting involved in. It is also teaming up with Pariplay for a casino-focused business.

“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,” Atari chair and chief exec Fred Chesnais said.

“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.”

We are in the midst of a blockchain and cryptocurrency goldrush right now, of course. Other companies - such a Long Island Iced Tea Corp saw a 183 per cent gain after its rebrand as, um, Long Blockchain Corp.

This is Atari's latest bizarre venture after the Ataribox crowdfunded retro console-slash-living room PC. That was meant to launch in spring of this year, but has been pushed back


PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site PCGamesInsider.biz. In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for GamesIndustry.biz, VGC, Games London, The Observer/Guardian and Esquire UK.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies