16 Feb Atari & Pong tokens? Let the blockchain games begin
If you’re a certain age, you’ll fondly remember joysticks, Pac-Man, Pong, Space Invaders, and other classic arcade games created by French gaming company Atari SA.
The Pac-Man creators plan to get digital and cash in on the blockchain boom.
In return for a 15% stake, and future earnings and royalties, Atari recently announced it will license its brand to Gibraltar-based Infinity Networks which plans to build a blockchain-based digital entertainment platform.
Atari also expanded its online casino-gaming partnership with Pariplay Ltd which intends to provide gambling with digital currencies, including a new Pong token.
Atari’s colorful gaming history
The French company created some of the early gaming industry’s most successful arcade games and video game consoles, popular for decades until the dot-com bust and boom in online games and virtual reality left the iconic brand lagging behind.
Among its library of more than 200 other popular games are: Edge of Chaos; Deer Hunter Tournament; Panzers Cold War; Ghostbusters Sanctum of Slime; Warlords; Roller Coaster Tycoon; and who could forget Goon Squad?
With the creation of the Atari and Pong tokens, Atari is hoping millions of customers and investors will fondly recall beer-soaked all-nighters playing Pong, Pac-Man and KAO The Kangaroo.
Gaming & entertainment from here to Infinity
Plans are vague, and details will be “announced soon.”
“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,” Atari Chairman and Chief Executive Officer Frederic Chesnais announced in a news release with few details.
“Given our technological strengths with the development studios, and the global reputation of the Atari brand, we have the opportunity to position ourselves attractively in this sector. Our objective is to take strategic positions with a limited cash risk, in order to optimize the assets and the Atari brand,” he added.
In addition to the Atari token, there is a planned Pac-Man coin, and if successful, we’re sure other tokens are just over the horizon.
Who is Infinity Networks Ltd (Gibraltar)?
What we can gather is Infinity Networks plans to develop a blockchain-based platform and storefront for digital entertainment including video games, movies and music.
Doll-Steinberg appears to have legitimate blockchain credentials according to his LinkedIn profile and role with Virt-u, a blockchain platform for virtual worlds where Dimant is also a co-founder.
Atari CEO Frederic Chesnais is also an advisor to Virt-u.
I guess we’ll have to wait for the inevitable white paper, project description, technical team, advisors and ICO to see if this project has any hope of success.
Another blockchain pump and dump?
Is this move by Atari and Infinity Networks just another stock market play leveraging an iconic brand to capitalize on the blockchain boom?
The first part of the equation has already happened. Bloomberg reports Atari shares jumped more than 60% since last week’s announcement. No doubt, website traffic to Atari’s online store is also up significantly.
Kodak made a similar move recently, raising eyebrows among skeptical blockchain industry watchers.
The gaming and entertainment space is crowded with powerful global and well-financed startups in online gaming, virtual reality and artificial intelligence.
Recent ICOs have also raised millions for projects in the gaming, VR and AI space. Research and product development takes a lot of time and money and the industry is notorious for delays and funding challenges. Not to mention cutthroat competition.
Without more specifics on Infinity Networks and the Atari project, all we can do is speculate.
Atari and Pong tokens? Let the blockchain games begin.