Gaming Giant Atari To Launch An IEO On Bitcoin.com
- The asking price during the IEO will be more than 3 times higher than the price in the first presale round.
- The token will be used for payments in video games and DeFi use cases are also possible in the future.
Atari retro console at Games Week 2013, an event dedicated to video games and electronic entertainment on October 26, 2013 in Milan. Tinxi/Shutterstock
The most premium domain name in cryptocurrency will soon host what’s arguably the most premium company to ever host an initial exchange offering.
On October 29th, Atari’s own ATRI token will be available for purchase to KYC-verified customers of Bitcoin.com from whitelisted jurisdictions. ATRI is an ERC-20 token, the main objective of which is “to be a means of payment within the interactive entertainment industry”.
While the token does not have a single dedicated main purpose, major partnerships by Atari will ensure that it will see use in video/blockchain games shortly after launching. DeFi use cases also seem probable. The full up-to-date list of Atari partners for this project is available on the company’s website.
Unfortunately for IEO participants, the hard cap of the token sale is rather low – only $1,000,000 of the initial $17,200,000 worth of ATRI tokens in circulation will belong to IEO purchasers. Moreover, the IEO price is also significantly higher than the price presale participants bought their tokens for – $0.25 for the Bitcoin.com offering, as compared to $0.08 for round one presale investors and $0.16 for round two.
On a more positive note, the tokenomics are not completely unappealing – the fully diluted cap of the token (based on IEO price) is $192,750,000 – meaning that even with 100% of all tokens in circulation the project is not in the top 60 in terms of market cap – which in combination with its high profile parent company could perhaps entice enough investors to give it a try.
ATRI will be purchasable with BTC, ETH, BCH or LTC and the full IEO details are available on Bitcoin.com’s dedicated IEO page.
- The legendary video game maker has split its operations into two new divisions, Atari Gaming and Atari Blockchain.
- The new blockchain division will focus on leveraging blockchain technology for decentralized gaming, and pushing the use of the ATRI token for in-game purchases.
The historical Atari 2600 Video Computer System running at 1.19 MHz with 128 bytes rom. Shutterstock
- Players will be able to spend MANA, as well as DAI and the Atari Token (ATRI), to play games and earn Decentral Games native token DG.
- The Atari Casino will provide 88% of its profits to the dgTreasury, allowing Decentral Games to continue developing new features.
- The game developer hopes to make its ATRI token more scalable through Polygon’s Layer 2 solution, which is interoperable with Ethereum via the Polygon bridge.
- Atari further plans to launch an NFT minter on Polygon, enabling all developers to issue their own NFT tokens.