Atari Shares Soar After Cryptocurrency, Blockchain Announcement
Atari pioneered the idea of gaming consoles, but the company has seen ameliorate days than its electric current state. Which explains why it could be taking a leap outside its league. The visitor is working on a new cryptocurrency called "Atari Token" that will facilitate transactions on another new product that is yet to be announced. The tokens can exist used on an upcoming due east-commerce platform for not merely games but also movies and music.
Atari SA, a French visitor previously known as Infogrames that reserves the right to all things "Atari" now, is governing the project. It isn't, however, taking care of the development and has assigned a visitor named Infinity Networks with the responsibility of creation of a storefront that works on the blockchain. Following the announcement, shares of Atari SA jumped as much as 60 percent in a matter of few days.
In commutation, Infinity Networks will have the liberty to use the gaming company's brand proper name under a "long-term license". Atari will accept a small stake and also earn royalties from Infinity Networks' products that use its proper noun, autonomously from having a major clamper in the earning from the platform.
Atari, as Bloomberg notes, will be expanding its partnering with Pariplay Ltd. which will permit players to gamble using cryptocurrency. "Our aim is to take strategic positions with a limited cash risk, in order to all-time create value with the avails and the Atari make," said Frederic Chesnais, CEO.
Atari, which is famous for its creations similar Pong, Infinite Invaders, Pac-Man, has beenreduced to a mere make name and had even filed for bankruptcy back in 2013. With the launch of a blockchain-based production, the company is planning to bounciness back from its misfortunes. It also teased the "Ataribox" gaming console last year that would be based on Linux and acquit the same design equally the classic Atari 2600 console, just that's yet to hit stores.
The company has non announced whatsoever other relevant detail similar a launch date for the platform or an ICO.
Source: https://beebom.com/atari-cryptocurrency-blockchain-store-shares/
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