Atari sees a new economic ecosystem through its Blockchain, Token, Stock, NFTs and video games

Atari® (OTC PINK: PONGF) announced the creation of two divisions, Atari Gaming and Atari Blockchain as well as a change in Leadership. The Atari Blockchain division will look to explore the NFT world and digital assets along with the opportunities that they bring. Wade J. Rosen became the new CEO of the Atari Group as of April 6. The previous CEO Frederic Chesnais will focus on licensing and Blockchain.

Summary

  • Atari® (OTC PINK: PONGF) announced the creation of two divisions, Atari Gaming and Atari Blockchain as well as a change in Leadership.
  • On March 11, Atari partnered with RTFKT to create a limited edition NFT sneaker available through blockchain games, including Decentraland, The Sandbox, and the upcoming Atari Metaverse.
  • The stock seems to have had a very good rally in March going from $0.41 to $1.15 at the time of publication, this is a 180% increase.
  • The token (ATRI) touched its highest high of $0.65 and is currently traded at $0.40 after starting the month of March on $0.18 giving it also a current increase of more than 100% in just one month.

 

The first news that put Atari in the spotlight was their partnership announcement on March 11 with RTFKT to create a limited edition NFT. The first collaboration is one of a kind Atari sneaker that except of being an incredible piece of art and valuable collectible, will also be available for use across multiplayer blockchain games, including Decentraland, The Sandbox, and the upcoming Atari Metaverse.

Atari NFT sneakers
Source: https://www.highsnobiety.com/p/rtkft-studios-atari-nft-sneakers/

Atari and RTFKT are collaborating with six artists to develop additional versions of the sneaker, all inspired by iconic Atari games. Only 50 of each design will be sold in the limited release and will never be minted again. Sales of the six additional editions began on the blockchain auction site Rarible.

RTFKT Studios has also auctioned off a pair of Chinese New Year sneakers, Cyber Sneakers (based on Elon Musk’s Cyber Car), and Doge Slippers, which as you understand are named after the epic crypto coins.

In order to add more value to the collectors, the two companies have collaborated with the industry’s top metaverse providers to have NFTs into their games. Collectors can actually use Snapchat and MetaverseMe App to try on the Atari Sneakers before purchasing them.

We are excited to partner with RTFKT Studios to bring true NFT utility to collectors with our blockchain gaming partners while showcasing the creativity and talent of top artists as they leverage our iconic brand within their work,” declared Peter Dao, Head of Social at Atari.

About Atari

Atari was created by Nolan Bushnell and Ted Dabney in 1972 and became a pioneer in arcade games, computer games, and video game consoles. Today Atari is known and globally recognized for its multi-platform, interactive entertainment and licensing.  Atari owns and/or manages a portfolio of more than 200 games and franchises, including globally known brands such as Asteroids®, Centipede®, Missile Command® and Pong®.  Moreover, it is also developing online games for Microsoft, Nintendo game consoles and Sony.

The company believes that blockchain technology is poised to change the current economic ecosystem especially the video games world and digital entertainment.

In the Results of the first half of 2020-2021, they published, “The activity related to the Atari Token has started during this period and generated 0.3M€ as revenue and 0.2M€ as deferred revenue. The positive reception of the Atari Token by the users, the rapid development of use cases (see atarichain.com) and the evolution of the price of the Atari Token on the exchanges attest to the very successful start and to the growth potential of this activity.”

The announcement of two divisions and change of Leadership

For Frédéric Chesnais, current CEO and a significant shareholder of Atari: “8 years ago, when I came back, the brand was given for dead. This spectacular turnaround is the result of solid teamwork and support from the shareholders, and I would like to thank each and every one of these individuals. We can all be proud of this outcome. The Atari brand is alive, more than ever, and this organization in two divisions will help us adapt to the changes in our business line.”.

The Gaming Division will include all the assets that will not be included in the Blockchain Division. The company is focused on the expansion of its division and the long-term growth that will be achieved through Gaming, VCS (Video Computer System), and Licensing.

The Blockchain Division has as primary goal to focus on the further development of its Atari Token and be used to purchase goods within Atari games and within 3rd party games such as the ones mentioned above, Decentraland, Sandbox and Opensea.io.

Atari Stock

Crypto players should definitely have a look into the Atari Token but for those who are into stocks, this company has you covered. The stock seems to have had a very good rally in March going from $0.41 to $1.15 at the time of publication. This is a 180% increase in a month and the company is just getting started with its Blockchain platform and collaborations to promote and create more NFTs.

atari stock chart

Atari Token (ATRI)

Atari Token is a decentralized cryptocurrency based on the Ethereum Blockchain designed by Atari Chain Ltd, a subsidiary of the video game and consumer electronics firm Atari Interactive.

Atari wants to make the ATRI Token a universal means of payment for the video game industry. It became available in October 2020 wherein underwent three pre-sale rounds in March-April and October 2020 before its release. The token is available on Uniswap and Bitcoin.com exchanges. The token touched its highest high of $0.65 and is currently traded at $0.40 after starting the month of March on $0.18 giving it also a current increase of more than 100% in just one month.

Source: https://coinmarketcap.com/currencies/atari-token/

Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.

Natalia C. - Junior Analyst at FDGT Academy

Natalia C. - Junior Analyst at FDGT Academy

I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.