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Video game legend Atari seeks public token sale in November

Video game legend Atari seeks public token sale in November

Atari will conduct a public token providing on Bitcoin.com in early November. As quickly because the providing is full, the ERC20-based AtariToken will turn into out there for buying and selling on the Bitcoin.com change. Whereas the exact particulars of the token sale are but to be introduced, Atari CEO Fred Chesnais instructed Cointelegraph that he believed the token sale might take as little as 1 second:

“It relies upon. It might be 1 second, might be 1 hour. It is dependent upon the quantity you set as a tough cap and the way a lot you might be elevating. So I do not know. I am unable to actually reply that query.”

Atari has raised $1.5 million up to now in personal rounds. Chesnais stated that for him, a very powerful factor a couple of public providing will not be elevating extra capital however the rapid subsequent liquidity. He has been negotiating with numerous DeFi protocols about attainable use circumstances for AtariToken however an absence of liquidity has been an impediment that he hopes the upcoming sale and subsequent itemizing will repair. Chesnais believes that AtariToken might create a singular DeFi use case — sport financing, which entails the funding of recent video games in change for a portion of its future income:

“We wish to announce that we’re going to be listed as a result of I’ve performed greater than three billion euro of investments in video games and sport financing. And after I know that the token is listed, I can suggest some very revolutionary formulation for sport financing. That is one in all my objectives.”

He famous that the sale will probably be compliant with all native laws and as such, is not going to be out there to U.S. residents. Atari is a publicly listed firm, although the token providing is carried out by means of a Gibraltar-based entity wherein it owns a 50% stake.

The token providing web page on Bitcoin.com will launch on Oct. 15 the place customers will have the ability to register and provoke Know Your Buyer onboarding.

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