There's a new player in the crypto sector and it's none other than... Atari? Image: Compfight

Atari has had a perplexing history in the last few decades, going from one of the most relevant gaming companies in the world to a well-known game studio. Now, they have announced the launch of a new cryptocurrency called Atari Token. The most outstanding fact about the announcement is that ever since the news broke out their stock value went up 60 percent.

Knowledge about their plans is a bit up in the air right now but little of what is known is that they won’t be a typical cryptocurrency like Bitcoin or similar coins. News has it that the Atari Token is currently linked to a second cryptocurrency named Pong Token which is related to casino games.

This could explain Atari’s move towards casino cryptocurrency, a few years the company escaped financial turmoil by making casino games, and signs show that they will continue towards the casino lane since this saved them from a €30 million loss and €30 million debt.

Atari’s official stance on crypto

“The second project in progress is the strengthening of the partnership with Pariplay, Ltd in the launch in 2018 of casino platforms allowing players to bet either in real money or with most crypto-currencies currently outstanding. These casino sites will offer many Atari games. To broaden the appeal of these new casinos, and once the Atari Token available, Atari has the project to launch Pong Token, a second Token dedicated to crypto-casinos and usable on these gaming sites.The details of this launch of crypto-casinos will be announced soon.”

Atari and Blockchain technology

Blockchain technology is set to take on our environment and economic system, especially when it comes to the gaming industry nowadays with online transactions. According to Atari officials, their aim consists on positioning themselves as an attractive brand with an appealing makeover.

However, they stated that this is a strategic position to be in to limit their money risks in order to, later on, optimize the brand and maybe become again a relevant gaming console brand. This could be the reason why Atari has delayed the 2018 Ataribox, which features a combination of compatibility with classic game titles and the capabilities of a modern console.

Atari’s moves are leaning towards making a comeback based on the outbreak of streaming services. If we are to see a new Atari console, it will be a top set-top streaming console, and to do this the company started a crowdfunding through a new organization called StartEngine. However many are skeptical about a new Ataribox based on the company’s bad promise delivering.

Source: Bloomberg