Advertisement

Atari expects to conduct its public token offering in November this year as it looks into DeFi use cases

Atari expects to conduct its public token offering in November this year as it looks into DeFi use cases

Quick take

1 minute read

  • Whereas most people today will own a PlayStation or an Xbox, Atari may have been the gaming console people started off on in the 90s.
  • It’s looking like Atari is getting ready to conduct a public token offering on bitcoin.com later this year in November and as soon as this offering is complete, the AtariToken will become available for trading on the exchange. 

Whereas most people today will own a PlayStation or an Xbox (Nintendo?), Atari may have been the gaming console people started off on in the 90s.

It’s looking like Atari is getting ready to conduct a public token offering on bitcoin.com later this year in November and as soon as this offering is complete, the AtariToken will become available for trading on the exchange. 

This ERC-20 based token has yet to have all of its precise details released to the public but the CEO of Atari, Fred Chesnais has said the following on the matter, believing that the token sale could take just one second:

“It depends. It could be 1 second, could be 1 hour. It depends on the amount you set as a hard cap and how much you are raising. So I don't know. I can't really answer that question.”

In private rounds, $1.5 million has been raised by Atari to pursue this project and the CEO has said that one of the key aspects of a public offering is not raising further capital but the immediate needed liquidity.

The DeFi space has been going immensely over the course of this year and it is something that Atari is looking to capitalise on as its token could create a unique DeFi use case. 

Specifically, it will look at game financing which would involve the funding of new video games in reward for a portion of its future revenue. 

The CEO further went on to say:

“We want to announce that we are going to be listed because I have done more than 3 billion euro of investments in games and game financing. And when I know that the token is listed, I will be able to propose some very innovative formulas for game financing. That's one of my goals.”

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

You can share this post!

Advertisement