According to a press release published on Bitcoin.com, Atari is planning to run its long-planned token sale this November.Atari IEO Approaches
Since 2018, Atari has been planning to release a cryptocurrency called Atari Token (ATRI). The token has been built on Ethereum’s ERC-20 token standard and is meant for use in the company’s online gambling apps and competitive staking games.
Today’s announcement reveals that ATRI will be sold during an Initial Exchange Offering (IEO) on Bitcoin.com. The company’s CEO Fred Chesnais has suggested that the sale will end quickly, possibly in seconds or hours.“It depends on the amount … set as a hard cap and how much [is raised],” Chesnais told CoinTelegraph in a recent interview.
Investors who participate in the sale will be able to buy ATRI with four other cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
U.S. citizens will not be able to buy tokens during the IEO. However, following the IEO, the token will be listed on Bitcoin.com and other exchanges, and general investors will be able to purchase the token.
Atari has additionally raised $1.5 million in private sales so far.Will Atari Token Succeed?
The company is no longer the gaming giant that it once was. At this point, it is little more than a trademark that has been sold multiple times. A third party gambling company, ICICB Group, seems to be largely responsible for Atari’s upcoming casino plans.
Critics have compared Atari to Kodak, another former giant that attempted to introduce a cryptocurrency but ultimately failed.
Atari might be better positioned to create a ...