Atari leans further into crypto with creation of Atari Blockchain division, splits gaming business into separate division
Atari is one of the most recognizable brands in the gaming industry, but recent moves suggest it wants to explore new ventures. The company announced today the creation of two new divisions: Atari Gaming and Atari Blockchain.
Atari Gaming will (unsurprisingly) handle Atari’s current gaming business. This includes the development of games (primarily free-to-play mobile titles) and utilizing existing Atari IPs to create remakes, remasters, or new games on consoles and PCs. Atari Games will also continue to support the VCS console and will handle brand licensing, focusing on businesses that want to use recognizable Atari titles. The company says that the division “will continue to leverage this notoriety in both gaming and non-gaming related fields (including hotels and casinos).”
Perhaps the more interesting division is Atari Blockchain, which will handle anything blockchain- or crypto-related. This includes the management of the Atari Token, the company’s proprietary cryptocurrency it hopes will become a standard method of purchasing interactive entertainment. (Atari Token [ATRI] is worth US$0.4864 as of press time.) Atari Blockchain will also “evaluate opportunities in blockchain gaming, NFTs, and blockchain-based online worlds.”
The creation of Atari Blockchain could lead to an entirely separate company. In its press release, Atari said that it is “exploring... the potential structuring of this division as an autonomous entity with a view to a possible spin-off to Atari shareholders by the listing of this new entity.” Essentially, that means that Atari Blockchain could eventually become its own company with its own stock.
As a final part of the move, the current Atari CEO, Frédéric Chesnais, will lead Atari Blockchain. In his place, Wade J. Rosen, the current Chairman of Atari’s Board of Directors will step in as the new CEO for the entire Atari Group.
What do you think of Atari’s seeming shift into blockchain? Let us know in the comments.