Technology

A Guide to Atari’s Cryptocurrency Token

The Atari token is an Ethereum-based decentralized cryptocurrency asset to help service the needs of the interactive gaming/entertainment sector.

As most people may be well aware of, the blockchain industry has been growing at a rapid rate, especially after making headway into various traditional financial and payment circles. For example, earlier this year, remittance giant Paypal announced that it was going to allow its 360 million strong userbass to buy/sell/hold/shop via a whole host of digital assets. Similarly, Visa too recently started allowing customers to settle their transactions using crypto. 

That being said, it is worth noting that there is a less talked about market — ala the gaming industry — that is currently ”testing the waters” when it comes to employing blockchain. The industry, touted to be worth more than $160 billion, has been flirting with the technology for quite some time now and there are many mainstream firms operating within this space that are now beginning to realize the massive scope of utility of this technology.

The Atari token is a step in this direction. It is an Ethereum-based decentralized cryptocurrency asset that has been developed by video game and consumer electronics giant Atari to help service the needs of the interactive gaming/entertainment sector. The goal of the company is to help transform its native token offering into a payment medium that can be used by any member of the video game industry 

A closer look at ATRI

In its most basic sense, ATRI can be thought of as an ERC-20 based cryptocurrency that can allow players, developers, and publishers to seamlessly monetize their digital offerings, all while being afforded the advantages of digital smart contract utilization. The token went live for public purchase on October 30, 2020. Prior to that, the offering underwent a total of three private sales that lasted through Q1-Q3.

The ATRI token was founded and developed by Atari Chain Limited, which as the name seems to quite clearly imply, is Atari’s blockchain and crypto subsidiary. As most of our readers may be well aware of, Atari is one of the world’s largest and most successful video game firms and has been a prominent player within this space since the mid-1970s. The goal of the digital currency is to make the interactive entertainment industry more decentralized, secure and permissionless —  especially when it comes to facilitating monetary transactions between individual players and title publishers. 

So how exactly does the ATRI work?

Akin to a whole host of other cryptocurrencies, the Atari token too has been designed to serve as a digital medium of exchange, which means that it can be used to facilitate an exchange of goods or services on any platform that accepts it. In order to acquire the asset, users can employ a number of different exchanges such as HitBTC, Bitcoin.com, 1inch and HotBit.

The currency can be stored in a variety of digital wallets — basically anyone that supports ERC-20 tokens — and can subsequently be used across different apps and websites that support it.

Is the Atari token a worthy investment?

Straight off the bat, it should be mentioned that since each and every transaction associated with each ATRI is stored and maintained in a distributed ledger system which is impossible to tamper with. Not only that, it is impossible to mint new tokens without there being a record of it, thus making it difficult to manipulate the digital asset.

Furthermore, Atari is constantly developing its smart contract network, eventually looking to incorporate its blockchain ecosystem into a wide array of domains such as online video games, casinos, etc. As a result, it will become easy to employ ATRI to be used for monetary transactions across Ethereum’s entire global infrastructure — which consists of online exchanges, wallets, dApp frameworks and much more. 

Looking ahead

Over the course of the last year and a half, Atari has announced a number of partnerships with various apps, esports platforms, game publishers, and online service providers — such as Unikrn and Karma — thus expanding ATRIs overall scope of utility even more. Not only that, the company has also announced its plans to develop a fully functional cryptocurrency casino in partnership with Decentral Games, one of the largest companies operating within this space.

Thus, it stands to reason that if Atari’s plans do work out as envisioned, the ATRI token could become the de-facto currency using which most transactions occurring across the gaming and entertainment industry can be facilitated. However, only time will tell how things will play out especially as regulatory and volatility related fears continue to mount globally.

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