The ICO will finally take place in November 2020. It was thought to be 2 months away when ATARI partnered with Marvel and the WAX blockchain. The Atari Tokens (ATRI) should allow the video game company to replenish its fund and make its entry into DeFi.
ATARI plays the ICO game
The CEO of ATARI, Fred chesnais, announced the launch of a ICO sure Bitcoin.com by his company, for the beginning of November 2020.
The tokens concerned are tokens ERC-20, the Atari Tokens, which will be available for trading on the exchange upon close of sales.
These token sales have so far reportedly enabled the company to raise $ 1.5 million in funding.
Chesnais indicates that the sale could end in a second or an hour, depending on the cap that will be set and the funds that will be raised.
He points out that the most important for ATARI It is not to raise additional capital, but to have liquidity.
According to him, the lack of liquidity is the main obstacle to negotiations with the many existing protocols, as to the possibilities of using the ARTI of DeFi. He therefore believes that this sale and subsequent listing will resolve this problem.
The DeFi of crowdfunding for games
The world of video games is one of the main areas of application of blockchain. ATARI is one of the many companies in the industry to have repositioned itself around this technology. A quick tour of our Gaming Tribune should convince you of this.
Chesnais hope thatAtari Token will be able to inaugurate a unique use case of DeFi, that of crowdfunding of games.
With an investment of 3 billion euros and the listing on Bitcoin.com, ATARI wants to innovate with funding formulas that involve the distribution of a portion of the income to all participants.
ATARI is a listed company but the sale procedure will be carried out by an entity based in Gibraltar in which it holds 50% of the shares.
In accordance with local regulations, the sale will not be available to US residents.
ATARI will therefore launch its ICO soon, hoping that it will put in place solid legal shields so that the cryptosphere does not have to live a BitMEX bis. Will US residents be willing to wisely stay away from this ICO? It’s very unlikely. Their stubbornness causes problems for blockchain and crypto companies. They are playing a dangerous game and ATARI risks paying a heavy price for it if it does not take the necessary steps.
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