Legendary video game company the Atari Group will conduct an initial coin offering aimed at launching a cryptocurrency casino.
Atari was founded in 1972 in Sunnyvale, California, though ownership has changed hands several times since then. The company currently belongs to Atari Interactive, a subsidiary of the French publisher, Atari, SA. Its stock is listed on NYSE Euronext Paris with a current market cap of just under $50 million.
And now the company’s entering crypto. According to the company’s March 10th press release:
“In 2018, the Group had granted an Atari brand license to Infinity Networks, Ltd (“INL”), to develop a blockchain project combining, on the one hand, the creation of a crypto-currency (Atari Token) and, on the other hand, the creation of a decentralized platform giving access to all forms of digital entertainment, a very broad offer ranging from video games to films and music.”
But since the “project was not progressing at the speed expected by Atari,” the company and INL ”amicably” terminated the agreement. Since recovering the rights, Atari Group has decided to separate its blockchain initiative into two separate projects. Read More...