Atari Gaming Plans Blockchain Based Entertainment System & Cryptocurrency

[Hydrogen]

Forget the joystick. Atari SA -- perhaps best known for 1980s video-games “Pac-Man” and “Space Invaders” -- is now jumping on the cryptocurrency bandwagon.

Shares in the Paris-based company have soared more than 60 percent since it gave further details of its crypto push on Feb. 8, after first mentioning some of the plans in December. Atari is taking a stake in a company that’s building a blockchain-based digital entertainment platform and, as part of that agreement, it will create its own digital currency called Atari Token. The company is also expanding its online casino-gaming partnership with Pariplay Ltd. to allow gambling with digital currencies.



(Link to image: https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iNDH0IN2pKnI/v2/800x-1.png )

“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 said in the statement. “Our aim is to take strategic positions with a limited cash risk, in order to best create value with the assets and the Atari brand.”

Atari isn’t the only stock that has benefited from links with cryptocurrencies. Shares of Eastman Kodak Co. jumped 245 percent in two days after it said last month it’s working with a company that promotes paparazzi photos to offer a blockchain-based service for paying photographers. And, in perhaps the most bizarre of such moves, the unprofitable iced-tea company formerly known as Long Island Iced Tea Corp. gained 183 percent in a day after re-branding as Long Blockchain Corp. in December.

https://www.bloomberg.com/news/articles/2018-02-15/pac-man-video-game-maker-atari-is-now-a-cryptocurrency-play

Wow. Things are getting crazier.

Can't wait for the "blockchain has no real world application" crowd to harp upon the technical impossibilities of a blockchain based gaming console. They could be 100% correct on that, too. Stock run ups after blockchain announcements could be an equities variant to the ICO bubble we've witnessed crash recently. I hope neither bitcoin nor crypto receives negative publicity if the stocks of these companies happens to implode if they fail to deliver.

I didn't believe people when they said blockchain would become the next dot com bubble but things may well be going that route...

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[stompix]

hope neither bitcoin nor crypto receives negative publicity if the stocks of these companies happens to implode if they fail to deliver.

Maybe Atari will deliver something, but Kodak, or Long Island Iced Tea Corp (lol), no

I didn't believe people when they said blockchain would become the next dot com bubble but things may well be going that route...

Yeah, it's going that way and it's accelerating.
Just look how much money is poured into ICOs based on the blockchain. From out of the blue the blockchain is the miracle that will solve 99% problems on this world.

I've seen some pretty stupid ones and not on this forum which is full of scams, but  companies that were running a business prior to BTC being born now jumping on crazy projects and claiming they found the Holy Grail of technology.

It's going to end up badly. There will be a lot more drama and unlike Monty Python nobody is going to laugh at the end.

[dothebeats]

Kinda intriguing on how Atari will approach this one, but gaming on the blockchain isn't a new thing too. It just so happened that the announcement came from a renowned gaming company from the 80's to 90's which make it look cool and a first of its kind. As someone who have played these games in my childhood, I wouldn't put my hopes up too much, though, but if they pulled it off smoothly, I assure you many other companies would follow suit and try to replicate Atari's success on the playing field.

Stock run ups after blockchain announcements could be an equities variant to the ICO bubble we've witnessed crash recently. I hope neither bitcoin nor crypto receives negative publicity if the stocks of these companies happens to implode if they fail to deliver.

I didn't believe people when they said blockchain would become the next dot com bubble but things may well be going that route...

Noticed that whenever a company--be it a known or unknown one--announces something related to crypto, stocks tend to overshoot which is quite alarming. If Atari failed to deliver this plan of theirs, I'm sure the stock would crash instantly before anyone could react. The crypto bubble is also affecting stocks of certain companies who are announcing anything blockchain-related and it's no good and puts up a bad image to crypto after everything pops.

[Petr1fied]

Atari have become a joke in the gaming industry in the few years since they emerged from Chapter 11 in 2013. You should check out Jim Sterling's 2015 video "The Great Atari Ransack" which poses the question "who knows what the next victim of the Great Atari Ransack will be?" The answer was RollerCoaster Tycoon which they have been pumping out one crap version after another for the last few years (RollerCoaster Tycoon 4 Mobile, RollerCoasterTycoon World, RollerCoaster Tycoon Touch) absolutely obliterating the value of their last remaining modern franchise and alienating it's fanbase. The only decent RCT entry was the port of the original two games by series creator Chris Sawyer and his partners at Origin8 which by all accounts he self funded and Atari merely got to publish because their license gives them exclusive publishing rights.

Then came Atari trying to chase the resurgence of mini consoles by announcing "Atari Box", a $250-$300 PC in a box which they intend to crowd fund. Then a couple of weeks back they started a new crowd funding campaign to create a Nintendo Switch version of RollerCoaster Tycoon because nobody there is likely aware how much they've utterly destroyed that franchise in recent years.

The coin may do well based upon nostalgia alone but I guarantee you the modern Atari won't do a thing with regards to any implementation of the coin, they're just in it to make a quick buck on brand name recognition, that's their entire business strategy these days.

[AlistairJ]

Shares of Riot Blockchain (RIOT.O) have tripled since October, when the former biotechnology firm changed its name and announced that it is reviewing its business focus for bitcoins.

The producer of soft drinks Long Island Iced Tea more than doubled, as he said that he switched his attention to blockchain technology and changed his name to Long Blockchain Corp (LBCC.O).

Also on Tuesday, Inpixon (INPX.O) rose 9 cents, or 40 percent, to 31 cents a share after the data analysis company announced the introduction of blockchain technology.

[wandino]

Blockchain technology is poised to take a very important place in the areas of the video game industry and online transactions. The decentralized blockchain crypto-platform will provide access to a wide range of digital entertainment, from video games to movies and music.

[lol1yatme]

I never underestimate what gamers can do lol. They can even do what you yourself considers a crazy thing😋😁. Immediately I saw the post heading I knew already that there would be a positive result. Just look, they already soared more than 60%. This is a really good news and shows far Bitcoin has gone and what it will accomplish. I hope that when other companies sees this news they will also make the same move and adopt Bitcoin as a payment option.

[Kakmakr]

Can you blame Atari for trying something new? Everyone is going on about this failure and that failure, but the guys at Atari did not just crawl into a corner to die, they actually came out firing with new ideas. Why do people like kicking someone, when they are down on the ground?

Most other companies would have declared bankruptcy and they would have closed their doors, but Atari is still in the fight. We are even kicking companies that wants to spread awareness of Crypto currencies. <even if it is their own> 

I say, kuddos for them for trying and hopefully millions of people will support them and those people will also start trading Bitcoin and other Alt coins as a result of this.