Forget about the “Pong” – the company is now the next big move is into an entirely new industry: that is cryptocurrency.
It is, one of the largest French holding company that now oversees all “Atari” properties, announced earlier this month that it’s working on its new cryptocurrency which is named “Atari Token.” Moreover, that cryptocurrency is intended for use on a new platform which is digital entertainment.
Company itself isn’t creating either. Instead, a company named Infinity Networks has collaborated with the project. In exchange for a “long-term license” to use Atari’s name, Infinity Networks is creating a platform for blockchain-based- a storefront, essentially – for various forms of digital entertainment, “which ranges from video games to movies and music.”
Additionally, company is also taking a minority stake in Infinity Networks in exchange for the use of Atari’s brand name in addition to potential future royalties and earnings from the entire platform.
The history of company game consoles was on display at the 2015 Game Developers Conference in the city of San Francisco.
If all of this sounds a little strange to you, that’s because it’s all pretty strange. The company history is long and storied, and it’s directly intertwined with the rise of the industry in a video game.
The company is largely credited with having created the game industry – first with games like “Pong” and “Breakout” in arcades, and then with some of the home game consoles like the Atari 2600. It’s also notorious for having helped bring about the crash of the game industry in the early ’80s.
Atari has devolved from a game developer/publisher and hardware manufacturer to little more than a popular brand name. The current incarnation of “Atari” is a re-branding of a French company previously which is named as Infogrames. There are several different business entities named some derivation of “Atari” at this point – Atari SA is the parent company which is solely responsible for the Token and this upcoming blockchain-based digital.
That parent company is currently attempting a big turnaround for company, and it looks like more efforts are working. The announcement alone was enough to bolster company SA’s stock -According to a reports that it leaped by more than 60% on the news. It’s unclear when the new platform will launch, or when Token will become available for initial purchase.