The 80s video game icon Atari well known for their versions of ‘Space Invaders’ and ‘Pac-Man’ are ditching the joystick for the time being while they jump on the cryptocurrency bandwagon.
The Atari Token will be the first digital currency, and likely comes as a byproduct of Atari’s recent investment in Infinity Networks, a company working on a blockchain-based digital entertainment platform. Atari also has plans to launch a second cryptocurrency called ‘Pong Token’, which is aimed at the digital casino business.
Atari also intends to further develop and expand their partnership with online casino gaming company Pariplay Ltd. One plan is to allow the Atari Tokens to be used for gambling.
Chairman and Chief Executive Officer for Atari, Frederic Chesnais, explained about the new venture: “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.” He further added: “Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and the Atari brand.”
Shares in the company, which is now based in Paris, jumped more than 60% when the announcement and further details were released on their foray into the digital currency market.