Atari Stock Jumps 52% After Announcing New Cryptocurrency Venture

Atari Stock Jumps 52% After Announcing New Cryptocurrency Venture

Because 80s nostalgia has me longing for cryptocurrency?

Yesterday, Atari announced that the company will be getting into the cryptocurrency market with its own Atari Token coin, because that's the kind of future-forward thinking from the company that brought you the Speaker Hat. And even though Atari hasn't really shared any specifics about the Atari Token, shares for Atari are up 52 percent on the back of the cryptocurrency news alone.

Atari first mentioned the plan to go into cryptocurrency back in December, but yesterday Bloomberg reported that Atari will take a stake in a company that's "building a blockchain-based digital entertainment platform and, as part of that agreement, it will create its own digital currency called Atari Token."

In recent months and years, Atari has mostly settled into a practice of licensing its name to sell new products with a tint of nostalgia. The speaker hat, a perplexing tie-in with the film Blade Runner 2049, was one. Another is the planned Ataribox, which despite initial reports, is some kind of set-top streaming console that will support both classic Atari games and indie games and will be priced at the surprisingly high $250-$300 range. A far cry from the sub-$100 Nintendo retro consoles like the SNES and NES Minis.

Atari isn't the only company making a strange pivot to cryptocurrency. Companies like Kodak and Long Island Iced Tea have also announced blockchain ventures.

Meanwhile, gamers will have experienced the effects of the cryptocurrency craze firsthand as prices for GPUs have skyrocketed in recent months thanks to the demand for cyrptocurrency mining.

Basically the future is crypto, and Atari is always thinking about the future. They put speakers in a hat for crying out loud!

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Matt Kim

News Editor

Matt Kim is a former freelance writer who's covered video games and digital media. He likes video games as spectacle and is easily distracted by bright lights or clever bits of dialogue. He also once wrote about personal finance, but that's neither here nor there.

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