Atari uses encryption to seek a new reputation-and return to hardware | Instant News

by: Bloomberg |

Updated: October 18 2020 11:01:09 AM

Atari VCS (Source: Atari)

Such as Microsoft Company and Sony Corp. is preparing to launch their new video game console, and another legendary player Atari is preparing the first new hardware in more than 20 years. Atari VCS will be different-gamers can use cryptocurrency while playing.

Atari VCS was first released a few years ago and is expected to be available in November. It is called a mini console or gaming computer. The product will provide access to more than 100 Atari arcade games and home classic games (such as Pong) and new games. It will have Internet connectivity and allow consumers to use Atari tokens to purchase products, which will go on sale in late October.

CEO Frederic Chesnais (Frederic Chesnais) said: “We have a brand, we have a certain following, we think we will attract attention anyway.” He added that he has more competitors It’s the iPhone, not Xbox or PlayStation. “After that, the product must be good.”

On October 29, the exchange will begin selling $1 million worth of Atari tokens to retail investors outside the United States, at a price of 25 cents each. These tokens will be used for in-game purchases, partner games, and ultimately, if Atari’s efforts to create a standard currency for the industry bear fruit, it will bring benefits to the broader gaming ecosystem. The company is also developing a gaming stablecoin that will not fluctuate like most tokens. Chessner said, but it hasn’t started yet. Chesnas led Atari out of bankruptcy protection in 2013.

This effort is part of Chesnais’ seven-year effort to revitalize Atari SA, making Atari SA more modern and relevant. Although Atari’s predecessor company attracted a generation of gamers in the 1970s and 1980s with arcades and family games (such as “Asteroids” and “Missile Command”), for a long time, powerful and larger competitors have been On the sidelines. The company has been split, merged and emerged from bankruptcy. Today’s Atari is small, with only about 20 employees. Since the company announced its cryptocurrency trading in 2018, its shares traded in Paris have fallen below 50 cents.

However, Chesnais has great ambitions for Atari, which largely depends on the brand’s nostalgia.

David Cole, CEO of DFC Intelligence, a digital entertainment researcher, said: “Consumers using retro systems are different from the target consumers of new game consoles.” “Yes, this is an opportunity.”

So far, more than 11,500 people have booked new hardware through the crowdfunding website Indiegogo, where Atari organized a campaign for the player and earned more than $3 million in revenue.

The company is facing economic headwinds.and Coronavirus disease As a result, the number of people staying at home and playing games has soared, and millions have lost their jobs or feared losing their jobs. This may limit their spending during the holidays and encourage consumers to choose new game consoles for major players.

There are prices. Atari’s all-inclusive products include an 8G Atari VCS, a wireless controller, a wireless classic joystick, and 100 classic arcade and game consoles, priced at $390. The Xbox Series S starts at $300.

IDC analyst Lewis Ward said: “To be honest, I’m a bit pessimistic because you will be on par with Xbox and PlayStation 5.” “Obviously, if you are a big fan of Atari games, there will always be a nostalgic basis. But In terms of price ratio alone, I don’t think this will become a niche product.”

Covid-19 has delayed VCS, which was originally scheduled to go on sale in March. In addition, even in the retro category, Atari faces imminent competition. Intellivision Entertainment plans to release its Amico player early next year, starting at approximately US$249. Kerr said the player “looks even more impressive.”

Atari’s attempts to enter cryptocurrency may also be hit. Past efforts to combine tokens with video games have not yet been completed. The good news is that cryptocurrency enthusiasts are also gamers. According to Aaron Brown, a cryptocurrency investor written by Bloomberg Opinion, if Atari’s tokens do take off, they could be “the door to a significant increase in crypto usage.”

Chesnas said: “We will see how it works.” “We don’t need to sell millions of dollars in the first place. This is a long-term job.”

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