Vintage Gamers Will Soon Be Able To Buy Atari Crypto
March 31, 2020
Atari, producers of gaming hits like Pacman, Mario Bros and Unreal Tournament, have partnered up with Ivex Capital International Credit Bank (ICICB) to launch the Atari Token, their very own cryptocurrency.
Initial coin offerings have reportedly already begun via private placements, and a public sale is due to be offered on the 30th September 2020.
The Rise of the Atari Token
Atari’s stated aim is to ensure that the Atari Token has the widest utilization possible. According to their website, the goal is to initially roll the tokens out to casino games playable with various crypto-currencies, and thereafter move onto other types of games on different platforms.
The token will also be used in Atari’s own licensed online casino, due to launch by 30th September 2020. This online casino will make use of most crypto-currencies. It will be run by ICICB, Atari’s partner in this venture, and promises to offer a host of the company’s most popular titles, including Asteroids, Centipede, Missile Command and Pong!
In terms of the revenue split, Atari is entitled to 35% of proceeds garnered from the sale of the Atari Token. They will also enjoy 50% of the net gaming revenues from their online casino, as well as a guaranteed payment of €7.5 million from ICICB over a 3 year period.
Atari’s plans to expand
This is clearly the year of expansion for Atari. In addition to the Atari Token, the company is also in the process of developing the Pong Token (based on the popular game Pong), a digital cryptocurrency to be used for local application in Kenya, as part of its operating licence within that country.
This is not the first time that Atari has attempted to enter the realm of cryptocurrency.
Back in 2018, Atari entered into an agreement with Infinity Networks Ltd (INL), to develop a blockchain project which included the development of the Atari Token. However, this project failed to launch and, as a result, Atari terminated their agreement with Infinity.
Their partnership with ICICB looks far more promising, and fans of this iconic brand (along with investors) will be hoping that they make as big a splash in the cryptocurrency space as they have made in the gaming space.