Shares of Atari, a cult gaming company, began to grow when it announced the creation of its own cryptocurrency - "Atari Token".
Gamers of a certain age, nothing can move back to childhood faster than the word "Atari". The name itself conjures up game marathons in Pac-Man, Warlords or Yars' Revenge on the floor in front of the TV in the living room. Now the iconic gaming company jumps into a cryptocurrency train, announcing the creation of the Atari Token.
Explosion from the past
Atari is a synonym for video games, because the company brought console games to the homes of millions. Instead of going to the gaming machines, with the original Atari console (later renamed 2600), the family could enjoy playing on their TV, and later with the Atari 5200. Although it was very primitive by today's standards, it was a technological and cultural revolution.
Now the gaming company is entering the digital age, creating its own cryptocurrency. News of this led to the fact that since February 8, the company's shares have increased by 60%. However, such a turn to cryptocurrency is not quite what can be assumed.
Partnership
The cult company is not completely immersed in the blockchain technology itself. She followed in the footsteps of others and entered into a partnership with a company that will deal with everything related to the blockchain.
Atari actually acquired a stake in a company that works on a blockchain-based entertainment platform. For their part, they create the Atari Token cryptocurrency. The company also expands its partnership with Pariplay Ltd. online casino to allow people to gamble using cryptocurrency.
Nothing was said about what the Atari Token will be used for. The only information available is part of the corporate presentation by Frederic Chesnais, Chairman and CEO of Atari (Atari):
“The blockchain technology is ready to take a very important place in our environment and transform, if not revolutionize, the current economic ecosystem, especially in the gaming industry and online transactions. Our goal — Take strategic positions with limited cash risk to best create value with these assets and the Atari brand. ”
In essence, the game company will allow other companies to use their name to join the cryptosphere and make a profit. By associating yourself with cryptocurrencies, you can artificially raise company stock prices, the same thing was done by Long Island Iced Tea Corp. and Kodak.