Victor Ugochukwu · Dec 14, 2020 . 5min read
Video Game Giant Atari to list its token on Bitcoin.com
Video Game legend Atari is planning to run an IEO for its cryptocurrency token ATRI in November on cryptocurrency exchange Bitcoin.com.
By Komal Joshi · Oct 3, 2020 . 5min read
Video game pioneer Atari declared the launch of Atari token, which would have a public sale and listing on Bitcoin.com exchange. Since 2018, Atari has been preparing to release a cryptocurrency called Atari token (ATRI). The token has been built on Ethereum’s ERC-20 token standard. It is extensively used in the company’s online gambling apps and competitive staking games. Today’s announcement unveils that ATRI will be sold during an Initial Exchange Offering (IEO) on Bitcoin.com.
Bitcoin.com is one of the leading cryptocurrency exchanges in the digital asset field. Thus, Atari chose Bitcoin.com Exchange as the platform of choice for Atari’s new ERC20 token (ATRI) to kickstart its public sale in early November. Following the completion of such public sale, Atari’s token (ATRI) will be available on Bitcoin.com Exchange for trading.
ATRI Token Sale will not be accessible for U.S. citizens
Atari says that investors who engage in the sale can buy ATRI with four other cryptocurrencies. It includes Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. However, it states that U.S. citizens will not be able to buy tokens during the IEO. Atari has additionally raised $1.5 million in private sales so far.
Atari CEO Frederic Chesnais said he expects the public sale to complete within a second or maximum by an hour. Chesnais says that it is conducting the public sale not to raise additional capital but to possess instant liquidity. He aims for Atari Token to generate a unique DeFi use case for game financing, funding of new games in exchange for a portion of its revenue. He further added that the sale would comply with local regulations.
Earlier, Atari partnered with Litecoin to enable users to spend LTC in its ecosystem. It has also partnered with the Ultra blockchain on the relaunch of its VCS game console. The company plans to issue a second token called Pong Token in Kenya as well. However, its blockchain plans do not depend entirely on a single project, though the token’s success is a sign of whether its other plans will succeed.
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