The evolution of the gaming industry from games like Pacman and Pong to modern-day games is truly admirable. Today, the gaming industry generates over $300 billion in revenue and has nearly 2.7 billion active gamers worldwide.
Graphic units that are constantly evolving, powerful processors, high-resolution screens, and extremely immersive gaming experiences have all contributed to this growth. Furthermore, with the introduction of virtual and augmented reality headsets, gamers can now participate in a virtual gaming arena, making today’s gaming, unlike anything the world has ever seen.
Video games were not as popular or advanced nearly five decades ago. It was at this point that Atari entered the picture and revolutionized the world of video games. Atari established itself at the heart of the gaming industry, achieving success in the 1970s, 1980s, and 1990s that is mostly unrivaled to this day.
Popularization of Video Game Consoles
Atari, founded in 1972 by Nolan Bushnell and Ted Dabney, is an iconic gaming brand that was nearly synonymous with arcade games, home computers, and video game consoles in the 1970s.
Its foray into the gaming industry began with the development of Pong, a table tennis simulator that is widely regarded as the first commercially successful video game.
This was followed by the Atari 2600, a video computer system (VCS) that popularized gaming consoles and sold over 30 million units in the 15 years following its initial release in 1977. Warner Communications then purchased Atari for an estimated $28 million. More popular gaming consoles, such as the Atari 400, 5200, and 800, sold millions of units. Every other store in the United States began selling Atari compatible games, and at its peak, Atari accounted for one-third of Warner Communications’ revenue. It was also hailed as one of the fastest-growing companies in the United States.
The video game crash of 1983, on the other hand, forced Atari to sell its console division and reinvent itself as Atari Games to serve the arcade games market. As a result of this, as well as market saturation and excessive competition, Atari remained underground in the gaming industry for the next several decades.
Using Crypto to Reinvent
After nearly two decades on the sidelines, Atari announced its “return to the living room” with its next-generation VCS. To create a powerful gaming console, this VCS combined the look and feel of a retro machine with cutting-edge technology. But that isn’t all. Taking advantage of the cryptocurrency trend, Atari developed its own blockchain network and cryptocurrency to power the future of the interactive gaming industry.
The primary goal of Atari’s ATRI token is to become the payment standard for a variety of online entertainment experiences such as video games, gambling, and betting. Currently, less than 1% of gamers monetize their game time. In light of this, Atari intends to create a system in which gamers can effectively trade their in-game resources for crypto tokens or even fiat currencies.
Game developers will also be able to incorporate the token as a form of payment directly into their games. Finally, network users will be able to use ATRI to watch their favorite gamers play, purchase resources and VCS games, or participate in interactive games such as gambling.
ATRI is currently an Ethereum-based token, but the project is working to make it compatible with all major blockchain networks in order to promote cross-platform trading. The company is also developing a virtual crypto-casino that will provide its users with iconic arcade games.
Are We On the Verge of a Revival?
Cryptocurrencies are undeniably the most promising technology of the twenty-first century, and mainstream adoption is just around the corner. On the other hand, the gaming industry is at an all-time high, with technologies such as augmented reality and virtual reality promising the metaverse. In this day and age, we can say that Atari’s vision of combining these two popular industries has hit the target. If done correctly, the crypto integration could help this legendary firm emerge from the shadows and reclaim its throne.