9.1 C
London
Thursday, April 22, 2021

Atari creates new blockchain division amid leadership reshuffle

Must read

UK Time Newshttps://www.uktimenews.com
UK Time News is your daily dose of Latest News, Entertainment, Music, Fashion, Lifestyle, World, Cricket, Sports, Politics, Tech, Business News Website. We provide you with the Latest Breaking News Straight from the UK & all around the World on different categories.

Atari announced the creation of a new blockchain division as part of an organizational overhaul within the company.

In a press release issued on Tuesday, the gaming giant revealed the creation of two new divisions – Atari Gaming and Atari Blockchain.

The first will focus on continuing development work on the Atari catalog of popular retro game titles as well as the rebooted VCS consoles.

READ  Double jump.tokyo subscribes to a layer two scaling solution for NFTs

As part of the announcement, Atari also revealed that current CEO Frédéric Chesnais will lead Atari’s blockchain division, while Wade J. Rosen will take over as the company’s new CEO. Prior to the announcement, Rosen was the chairman of the board of Atari.

READ  Double jump.tokyo subscribes to a layer two scaling solution for NFTs

For Atari Blockchain, the statement revealed that the new division will focus on exploiting emerging opportunities at the intersection of gaming and blockchain technology. With around 2.7 billion players worldwide, the gaming industry is often identified as poised to disrupt the blockchain.

According to the announcement, Atari Blockchain will work on integrating the Atari Token (ATRI) into the company’s gaming ecosystem. This planned integration would cover Atari-based blockchain games as well as the digital token economy in the VCS.

READ  Bitcoin caught in crossfire as Turkish opposition leader expresses support

Atari Blockchain will also be responsible for leading the company’s involvement in the non-fungible token space.

Atari launched its ATRI token in November 2020 after raising around $ 1.5 million in a private sale round. Even before launching its token, Atari had been involved in the crypto and blockchain space. In 2018, its holding company, Atari SA, announced its intention to invest in cryptocurrencies.

READ  Zcash (ZEC), Horizen (ZEN) and Hedget (HGET) soar as altcoins take off
READ  Enjin secures $ 18.9 million in funding for Polkadot-based NFT blockchain

The gaming giant, responsible for pioneering home video game consoles in the 1970s, has also partnered with a few startups working in the landscapes of blockchain gaming and NFT metavers.

As previously reported by UKTN, Atari partnered with the Enjin blockchain gaming ecosystem in December 2020 to bring the former’s iconic IP and licensing to the latter’s platform.

In March, Atari also partnered with Decentral Games to create a virtual casino.