While Atari may be known as one of the first major video game companies, that's not to say it's behind the times. With the recent announcement that it will be entering the NFT market, along with its existing work in cryptocurrency, Atari is staking a claim in the latest digital trends.
Atari is far from the first business to jump on the trend of NFTs, or non-fungible tokens, which allow exclusively-digital assets to be deemed "authentic" similar to a physical collector's item. NFTs draw from a wide range of digital assets, from popular memes to clips of iconic basketball plays and much more. NFTs garnered the attention of many gamers through The Castle Doctrine, a game whose owners infamously monetized its pixel art as NFTs without artists' consent.
At the start of April, Atari announced it would split itself into two divisions: Atari Gaming, which would continue to focus on software and the Atari VCS; and Atari Blockchain, which would focus on the Atari Token, NFTs, and related technologies. The gaming division will also presumably handle the upcoming chain of Atari Hotels, which are billed as a way to marry esports arenas and Atari-themed experiences into an upscale hotel.
While Atari's press release does not specify how the Blockchain division will explore NFTs, the company already has several related projects in motion. Enthusiasts can purchase NFTs themed around Pong and Centipede, some of which are tied to real arcade cabinets and other tangible collectibles. Atari is also working with Decentraland, a multiplayer online world build using blockchain technology, to offer a virtual Atari casino which accepts Atari's own cryptocurrency.
This is only part of a larger set of technology-related projects for Atari. Atari has recently come back into the console market with its Linux-based Atari VCS console, which borrows from the aesthetic of the Atari 2600 while offering modern gaming and streaming services. Atari also launched its cryptocurrency, known as Atari Token. Even before it announced its own currency, Atari was involved in the space, as those interested could pay for the Atari VCS with a cryptocurrency known as Litecoin.
While many fear that the market for NFTs will collapse, believing the popularity of NFTs to be nothing more than a passing fad, there's no denying Atari can offer some compelling NFTs. Being able to own a limited-edition virtual version of Pong or Centipede would be an exciting prospect for many collectors. Plus, with the recent upswing in development for the Atari 2600, public awareness of Atari won't decrease any time soon.
Source: Atari (via GlobeNewswire)