Atari will conduct a public token providing on Bitcoin.com in early November. As quickly because the providing is full, the ERC20-based AtariToken
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 obtainable for buying and selling on the Bitcoin.com trade. Whereas the exact particulars of the token sale are but to be introduced, Atari CEO Fred Chesnais advised Cointelegraph that he believed the token sale might take as little as 1 second:
“It relies upon. It could possibly be 1 second, could possibly be 1 hour. It is dependent upon the quantity you set as a tough cap and the way a lot you’re elevating. So I do not know. I can not actually reply that query.”
Atari has raised $1.5 million to date in personal rounds. Chesnais mentioned that for him, crucial factor a few public providing will not be elevating extra capital however the rapid subsequent liquidity. He has been negotiating with numerous DeFi protocols about doable 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 novel DeFi use case — sport financing, which includes the funding of recent video games in trade for a portion of its future income:
“We need to announce that we’re going to be listed as a result of I’ve carried out greater than three billion euro of investments in video games and sport financing. And once I know that the token is listed, I will suggest some very revolutionary formulation for sport financing. That is certainly one of my objectives.”
He famous that the sale will probably be compliant with all native rules and as such, is not going to be obtainable to U.S. residents. Atari is a publicly listed firm, although the token providing is carried out via 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.