Atari is planning to launch its own cryptomoeda, dubbed "Atari Token," according to an announcement last week.
As part of the effort, Atari acquired a 15% stake in a Gibraltar-based company, Infinity Networks, Ltd and licensed its brand to the company. The partnership - previously insinuated in a December statement - will see the development of a digital entertainment platform backed by the Atari Token. The game maker noted that its investment was "made without disbursement of money by Atari."
"We aim to take strategic positions with limited cash risk, to better create value with Atari assets and the Atari brand," Atari president and CEO Frederic Chesnais said in a statement.
Atari had previously created an Atari Token to serve as currency for shopping in the games. If the newly announced Atari Token serves this purpose, it is still unknown.
In addition, Atari said it plans to integrate crypto-coins through its brand partnership with Pariplay, Ltd, which offers online games using Atari games and characters as part of its design. The statement last week also suggests the creation of a second token, which would be used in conjunction with an online casino.
"To expand the appeal of these new casinos, and once the Atari Token is available, Atari has the project to launch the Pong Token, a second token dedicated to crypto-casinos and usable on these gaming sites. The details of this release of crypto-casinos will be announced soon, "the statement said.
As Bloomberg reported, the Atari stock price jumped after the announcement was made.
To be honest, I'm not sure how to feel about this. I heard about it, but am thinking that Atari certainly isn't the company that they used to be. I think someone with much better intentions need to buy them out and take them in a new direction.
Frankly, it would be much more exciting to hear about a gaming company launching it's own cryptocurrency if that company didn't give off a very cash-grab vibe.
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