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Gaming enterprise Atari joins the craze- announces it’s own cryptocurrency

Feb 18, 2018 Posted /  3612 Views

Gaming enterprise Atari joins the craze- announces it’s own cryptocurrency

For some reason, nobody wants to succumb away from cryptocurrency mania. You can call it- FOMO (Fear of Missing Out). Similar happened with Atari SA- the gaming company that was best known for its 1980s video games like "Pac-Man" and  "Space Invaders" (The ones that give you nostalgia now)

The company is moving in the field of cryptocurrencies and will soon launch its own virtual tokens. The announcement about the plans was made by the Paris-based Atari on February 8. However, the company had also revealed some of its intentions in December last year. Now as soon as the official statement was released, the shares of the company pushed forward by more than 60 percent.

It was disclosed that Atari is taking takes in a company which is building an entertainment platform on Blockchain technology. As a part of the agreement, Atari has also signed to create its own digital currency called Atari Tokens. Side by side the company is also expanding its operations in online casino-gaming as it signed a partnership with Pariplay Ltd. which will permit for gambling with virtual currencies.

“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,” Atari Chairman and Chief Executive Officer Frederic Chesnais commented in the 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.”

We know that Atari is not the only company whose share prices skyrocketed with announcements of working with Blockchain and cryptocurrencies. More than month back, when Eastman Kodak Co announced for KodakCoin, the share prices of the company jumped by some 245 percent in a matter of two days. The camera company revealed that its blockchain based solutions will benefit paparazzi, and the technology will ensure that their work is duly paid when they provide services for photographs.

Not only this Long Island Iced Tea Corp changed its name to Long blockchain Corp in December 2017 without revealing what they want to achieve through Blockchain solutions. Notably, the iced-tea company was not gaining much since a long time after which it decided to rebrand itself. The company shares soared some 183 percent in a day after the announcement.


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Tags: Paris Cryptocurriences bitcoin

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