Atari Enters Crytpo Online Casino Gaming Metaverse

Written by :

Aaron Goldstein

Published on :

2 May, 2022

Atari Enters Crytpo Online Casino Gaming Metaverse

Atari, a long established producer of arcade games, announced in December 2021 it was entering the explosive and evolving cryptocurrency gaming sector.^[1]

Tokenization

The Atari Token is an ERC20 utility token, built on the Ethereum blockchain, with the primary goal to be used as a means of payment in video games and the Atari Casino (explanation follows). ATRI is the native currency of the Atari Chain.

What is a Crypto Casino?

A cryptocurrency casino is one where bets are accepted and winnings are rewarded in cryptocurrency only, Atari utilizing its own ERC20 token. In some cases, there are tax incentives to playing at a crypto casino.^[2]

“The only real difference is the payment solution. Crypto casinos must support deposits and withdrawals in cryptocurrencies such as Bitcoin, Ethereum, etc. Some casinos base their platform entirely on blockchain, and offer only blockchain games, but technically, any casino that takes payments from a crypto wallet counts as a crypto-casino,” — commented Yury Filipchanka, Managing Director of Slotegrator.

The operator can choose one of two options for launching a crypto casino:

An online casino that supports both fiat and cryptocurrencies;
A blockchain casino that only accepts payments from a crypto wallet.

The first option tends to be more widely accepted as of May 2022.

In the case of Atari, the company had planned on offering some of its nostalgic titles utilizing the cryptocurrency casino model.

Its crypto casino was expected to be housed in Vegas city, a gaming city in Decentral Games’ Metaverse, Decentraland.^[3]

Change of Course

On April 18, 2022, Atari announced it had terminated all license agreements with ICICB Group, the company tasked with launching the ATRI token, along with subsidiaries.^[4]

As a result of the termination, ICICB Group is no longer able to use Atari's brands "in any manner."

Atari did make it clear that it will continue to focus on crypto and blockchain, which is why it has decided to distribute a new proprietary token for existing ATRI holders.

Similar Sites

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