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Remember Atari, the old video game system? The original video game system? Well, it turns out the company is still around, and it’s entering the cryptocurrency arena.
Atari Is Releasing Its Own Coin
The firm has announced the establishment of the Atari token, which is set to have a public sale in about a month on the Bitcoin.com exchange. Set for early November, customers or participants looking to take part in the sale can only purchase the coin utilizing five “mainstream” cryptocurrencies. They are bitcoin, Ethereum, Litecoin and bitcoin cash.
The days of playing “Pong” and “E.T.” may be over, but Atari will live on through other technological venues, some of which clearly involve digital currencies and blockchain. The company is already looking to establish its own distributed ledger network and says that the currency it’s selling will give users access to liquidity. The company has already established several leading partnerships with online casinos and gaming ventures as a means of building its presence.
Atari has already engaged in two pre-sales that allowed private investors to take part in the world of Atari token. More than $500,000 in digital units were sold at the price of roughly eight cents each during the first sale, while the second saw more than $1 million in tokens sold to users. Atari mentioned that this was done to “stress test” the platform and ensure its interface is functional. The company is now engaged in a pre-sale which is set to last throughout October. It will end just before the public sale is set to occur.
When the public sale is finished, Atari CEO Fred Chesnais announced that the token will be immediately available for trading and selling. He believes that the public sale will last only an hour or two. In other words, he’s confident the token will prove popular amongst modern crypto traders. In a statement, he explained:
It depends on the amount you set as a hard cap and how much you are raising.
Trying to Establish a Presence
Among the company’s current projects involve working with various decentralized finance (DeFi) platforms as a means of building use cases for the coin. In addition, Chesnais says that the public sale is not being utilized to garner more funds for the company but rather to establish liquidity right away for any customers. He says that Atari is a company that has revolutionized gaming like no other firm, and he believes Atari can do so again.
Currently, the company is establishing lasting relationships with gaming developers. Granted they are looking to establish their games on Atari Chain, the company will fund their latest projects in exchange for part of the revenue they secure from their games. While the public sale is set to comply with local regulations, it will be available to traders and customers outside the U.S. only.