One of the most famous gaming companies all over the world in the 1980s is now joining the cryptocurrency space. The company behind “Pac-Man” and “Space Invaders” is now investing in cryptocurrencies. Once the company announced that, its shares skyrocketed to highs not seen since years.
Atari Gaming Company Invests in Crypto
According to Bloomberg, the shares of the Paris-based company soared more than 60 percent since it explained its intention to invest in cryptocurrencies. The information was released on February the 8th after mentioning some part of the plans in December.
The intention is to invest in a blockchain company working with digital entertainment platforms. The agreement includes the creation of a cryptocurrency known as the Atari Token. Furthermore, the company is also expanding the casino gaming partnership with Pariplay Ltd. In this way, it will be possible to gamble using digital currencies.
Atari Chairman and Chief Executive officer Frederic Chesnais said:
“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. 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.”
Companies Benefiting from Cryptocurrencies and Blockchain
Different companies that have been outside the cryptocurrency and blockchain world have announced different blockchain-related partnerships. For example, the Long Island Iced Tea Corp changed its name to Long Blockchain promising a new strategy related with the cryptocurrency mining industry.
That allowed the company to increase 458 percent. After it, several other companies have decided to change their names or business strategies. Kodak, the famous photography company has launched its own cryptocurrency known as KodakCoin.
Additionally, Kodak has launched an Initial Coin Offering that would allow photographers to share their works.
Jeff Clarke, Kodak CEO, commented:
“For many in the tech industry, “Blockchain” and “Cryptocurrency” are hot buzzwords, but for photographers who have long struggled to assert control over their work and how it is used, these buzzwords are the keys to solving what felt like an unsolvable problem. Kodak has always sought to democratize photography and make licensing fair to artist. These technologies give the photography community an innovative and easy way to do just that.”
When the company announced its cryptocurrency, its shares more than doubled in price. In addition to it, Kodak started to sell Bitcoin miners. Apparently, the user needs to pay a two-year contract in order to mine Bitcoin. The presentation has been in Las Vegas at the Consumer Electronic Show (CES).
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