Atari, the company to first bring video game consoles into homes everywhere will be launching their own cryptocurrency: Atari Token.
While Atari has not explicitly said what the cryptocurrency’s purpose is aside from that it will “create value with the assets and the Atari brand”, the name choice may be telling. Previously, an Atari Token was a redeemable point system, akin to a rewards or loyalty program which was used to purchase special in-game content found within Atari games. This new Atari Token very well could be a modern cryptocurrency version of that prior virtual payment system.
The move also saw Atari acquire a 15% stake in Infinity Networks, Ltd and licensed the brand to the Gibraltar-based company. Infinity Networks will help to build a digital entertainment platform that is based on the Atari Token cryptocurrency.
Furthermore, Atari will integrate other cryptocurrencies into online games. A statement released by Atari also suggests that it will not stop with Atari Token, and will launch a second crypto, Pong Token, which would be used in online casinos.
As an innovator and pioneer of the video game industry, the news is exciting for the cryptocurrency space. The move also caused the company’s stock to surge more than 60% since the news broke.