Online game pioneer Atari introduced on Tuesday the creation of a blockchain division that can seize on the know-how to develop video games and a cryptocurrency that gamers might spend on gadgets.
Blockchain know-how provides worth to cryptocurrency and different “non-fungible tokens” (NFTs)—corresponding to digital artworks, pictures or movies—by making them unattainable to duplicate.
The corporate mentioned in a press launch that it wished to push its “Atari token” as fee for digital items throughout the content material by itself “Video Pc System” console and different platforms, but in addition third occasion video games and functions.
“Atari will even proceed to guage alternatives in blockchain gaming, NFTs, and blockchain primarily based on-line worlds,” it mentioned, citing “the immense potentialities of crypto and blockchain enabled video games”.
The discharge additionally alluded to the opportunity of the brand new division turning into an independently-listed entity, although it mentioned that there’s “no assurance any such potential spin-off will happen”.
Atari mentioned it was additionally making a gaming division that can concentrate on “the increasing market of retro gaming”.
The corporate’s licensing division has already gone past the realm of the digital with an settlement introduced in March to construct gaming-themed Atari motels in Dubai, Gibraltar, and Spain.
Launched in California within the early Nineteen Seventies, Atari is known for its “Pong” desk tennis recreation, extensively considered the primary online game to realize critical business success.
The model with its portfolio of greater than 200 video games and franchises was saved from chapter in 2013 by French firm Ker Ventures owned by Frederic Chesnais and American fund Alden.
Atari mentioned Tuesday that Chesnais will relinquish his CEO publish to move up the blockchain division and licensing whereas American Wade Rosen, at the moment chairman, will take over from his French colleague.
Regardless of disappointing leads to the primary half of the yr, with revenues down 27 % to 7.8 million euros, the share worth has doubled since January 2021, valuing the corporate round 250 million euros.
© 2021 AFP
Atari creates blockchain division for cryptocurrency, video games (2021, April 6)
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