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Atari Plans to Launch Its Own Cryptocurrencies

Add Atari to the growing list of companies to pivot to cryptocurrency.

The game maker has announced plans to launch a pair of Bitcoin competitors—the Atari Token and the Pong Token.

Details are light, but it appears the Atari Token is meant to be used with digital gaming platforms, while the Pong Token will be used in online casinos. Atari says details of those crypto-casinos will be announced soon.

“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,” said Frédéric Chesnais, CEO of Atari in a statement. “Given our technological strengths with the development studios, and the global reputation of the Atari brand, we have the opportunity to position ourselves attractively in this sector.”

The announcement comes roughly a month after Kodak said it plans to debut its own coin, an announcement that caused a notable spike in its stock. (Kodak has since delayed the launch of that coin to vet investors.)

To position itself for the launch of the Atari Token, the company has acquired a minority stake in Infinity Networks, which is developing a decentralized blockchain technology for digital entertainment platforms.

Atari has changed hands numerous times since it was launched by Nolan Bushnell in 1972. It’s currently based in France. The company has had its name in the headlines a number of times recently—announcing a new console and a hat with built-in bluetooth speakers.

The console was delayed in December and hasn’t been spoken of since. The hat currently sells for $130.