According to the latest news, the maker of ‘Pac-Man’ and ‘Pong’ is planning to launch its own cryptocurrency. In an announcement made last week, Atari acquired a 15% stake in a Gibraltar-based firm, Infinity Networks, Ltd, and has licensed its model to the agency. This partnership will see the event of a digital leisure platform underpinned by the well-known Atari Taken.
Atari Chairman and CEO Frederic Chesnais explained in a statement that their aim is to take strategic positions with a limited cash risk, which can help create value for the assets and the Atari brand. In addition to this, Atari said it is planning to integrate cryptocurrencies via its branding partnership with Pariplay, Ltd, which offers online games using Atari games and characters as part of their design. Based on the statement made last week, there could also be a second token which would be used in conjunction with the online casino plan.
In order to broaden the appeal of these upcoming casinos and after the availability of Atari Token, this company is planning to launch Pong Token, a second token which will be dedicated to crypto-casinos and can be used on online gaming sites. The details of this launch will be announced soon.
After this announcement, Atari’s stock price saw a noticeable jump. This is not the only company that has seen a change in stock prices after making this kind of an announcement. Even Kodak, the one-time photo giant had also announced its plans of starting a new initial coin offering. And just after this announcement, their stocks jumped 245% in two days!
Keep reading iTMunch for more such cryptocurrency updates!