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Atari to Release Own Cryptocurrency Called Atari Token

Atari to Release Own Cryptocurrency Called Atari Token

By Rishi Alwani | Updated: 16 February 2018 20:15 IST

Highlights

Atari has announced Atari Token
It represents the legacy brand's foray into cryptocurrency
Its shares spiked after announcing its cryptocurrency push

Classic video game brand Atari has announced Atari Token. It represents its foray into cryptocurrency. The announcement has seen a spike in shares, rising by more than 60 percent since the announcement on February 8.

In addition to this, Atari is taking a stake in a company that’s building blockchain-based digital entertainment and is expanding its online casino-gaming partnership with Pariplay to allow for gambling with digital currencies. It's unknown if this would be restricted to Atari Token or be open to the likes of Bitcoin as well.

“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 Chairman and Chief Executive Officer Frederic Chesnais said in a statement. “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.”

Previously Atari floated plans for a console known as the Ataribox and took to crowdfunding to bring Roller Coaster Tycoon to the Nintendo Switch. In its latest avatar, we've seen Atari release a few games based on franchises it still owns, most notably Alone in the Dark: Illumination and Asteroids: Outpost. Both were met with largely negative reviews for their derivative nature.

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