Entertainment software company Atari is reportedly launching a crypto casino on the Ethereum blockchain. Atari, brought gamers Asteroids, Pacman, and Pong is teaming up with Decentral Games to create the crypto casino. The casino will be built in Decentraland’s Vegas city. It is a gaming district in ethereum-based Decentraland’s metaverse and will be leased on an initial two-year term.
How will the Casino Work?
The casino will feature various Atari-themed games, playable with MANA tokens, the DAI stablecoin, DG token or Ataris’s ATRI token, and Atari non-fungible tokens (NFTs). Token holders can leverage them to earn more digital currency. The companies expect to see bets of $150 million in 2021 and $400 million over two years.
According to a blog post by Decentral Games, 88% of profits will go to its DAO treasury, benefiting DG token holders. Using these funds, the company will develop new features and will share rewards with the DG community, and Atari. They will hold the right to vote on decisions related to game development.
CEO of Atari, Frederic Chesnais has been trying to make Atari more modern and relevant. Atari has raised a whole generation of gamers from the 1970s onwards. Chesnais said Atari is ready to make collectible assets that are more dynamic and usable across various games and applications. Atari is targeting whales in the crypto market.
“We can attract a slightly older crowd of people to the blockchain. We play right into the demographics,” he said.
At the time of publication, a single ATRI is exchanging hands for $0.29 per token. ATRI has a circulating supply of 400,000,100 coins and a market valuation of around $118 million on March 10. And also Decentral Games has backing from the Digital Currency Group, the investment giant that oversees Grayscale. Though Atari Casino will not go live until May. They will announce a launch party next month, with prizes in the form of NFTs, ATRI, and DG.