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[Business] Atari is launching its own cryptocurrency because of course it is

Started by lioneatszebra, Feb 18, 2018, 03:51 AM

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lioneatszebra

Atari is launching its own cryptocurrency because of course it is

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.

"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.


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edmonoccupational

Thank you for sharing this news. I definitely will buy some of their cryptos to put on hold. Btw if anyone knows a good trading profit calculator? I would much appreciate any answer.

gwenaellecon

Well, Atari company looks confident in its actions, so I bet it will be a good investment if you buy some of its cryptos today, but I don't recommend you go too deep in crypto market investments today. Investing in other areas like stocks and property renting is better. If you are looking for a solid trading profit calculator, I suggest you visit the FBS site. They have plenty of trading-related services that will be helpful for traders, especially for starters. If you are interested, reach me in private messages. I will send you the link for their trading profit calculator application.