Atari is looking to create its own cryptocurrency, with the legendary game maker following in the footsteps of Bitcoin with the “Atari Token.”
The cryptocurrency is being developed following Atari’s acquisition of a 15% stake in Infinity Networks, Ltd. The Atari Coin will operate in the same way as Bitcoin et al, with Atari and Infinity Networks working on a digital entertainment platform that will be supported by the cryptocurrency.
A statement from the company reads:
“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. Given our technological strengths with the development studios, and the global reputation of the Atari brand, we have the opportunity to position ourselves attractively in this sector. Our objective is to take strategic positions with a limited cash risk, in order to optimize the assets and the Atari brand.”
Atari CEO Fred Chesnais recently stated that its new leadership had dragged the beleaguered game company from out of its crippling debt, apparently recouping over €30 million of losses in losses. It is hoped that the launch of this cryptocurrency will bolster its finances without much financial investment.
The Atari Coin follows in the footsteps of the upcoming Ataribox console, which looks to improve the company’s fortunes by way of emulating the success of the NES and SNES Mini. The Ataribox is scheduled to launch in Spring 2018.
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