The new AtariToken will enable innovative ideas for financing video games.
The video game company Atari will hold its own token sale on Bitcoin.com in early November. Once the token sale is completed, the AtariToken, which is based on the ERC-20 standard, can then be traded on the Bitcoin.com trading platform. Although the exact starting price for the sale is not yet known, Atari CEO Fred Chesnais told Cointelegraph that the token sale may not take longer than one second:
“That all depends. It could last only a second or an hour. It depends on what we set as the upper limit and how much capital we raise. So I really can’t estimate it exactly.”
Atari had previously raised $1.5 million in investment capital through private financing rounds. Chesnais therefore states that his primary focus is not on raising further funds, but rather on providing liquidity. He has already spoken to several DeFi projects about a possible integration of the Atari token, but the lack of liquidity of the company’s own Crypto Method currency was still a major problem, which would be solved by the introductory sale of the token. Chesnais is convinced of the potential of the AtariToken, which could create a completely new type of decentralised financial service (DeFi) designed to finance the development of video games, while allowing investors to participate in subsequent sales:
“We want to hold the token sale because I have already invested €3 billion in games or game development and I am sure that once the crypto token is in place I will be able to implement some very innovative ideas for financing video games. This is one of my goals”.
He adds that the sale of the token meets all the legal requirements, but the Atari crypto currency will not be available in the USA. The video game company is listed on the stock exchange, but sells the tokens through a trading platform in which it has a 50% stake.
The token sale will be launched on Bitcoin.com on 15 October. Interested buyers can register from that date.