Atari Sells Rights to Make Blockchain Versions of Mobile Games

Nuno Teodoro

Yesterday (Dec 18), it was announced a license agreement between Atari Inc. and Animoca Brands Limited. The agreement grants Animoca Brands the rights to create blockchain-based versions of popular mobile game titles RollerCoaster Tycoon and Goon Squad.

The agreement is valid until April 2022 and allows the publishing of the games globally, with the exception of Greater China (Hong Kong, China, Taiwan, and Macau).  

The companies also developed a strategic partnership that will look to explore mutual opportunities in blockchain, gaming, and product development. Frédéric Chesnais, the CEO of the Atari Group said:

“We are proud and delighted to enter into this long-term and strategic relationship with Animoca Brands, which also allows us to become a shareholder in one of the most exciting innovators in the world of decentralized gaming. We hope that this agreement paves the way to further cooperation on other Atari products.”

The commercial agreement will require Animoca Brands to pay Atari in shares of the company. Below are the commercial details of the agreement:

“As consideration for the license to develop and publish the Games, Animoca Brands will pay to Atari a minimum guarantee against future revenues of US$250,000, payable in shares of the Company’s stock at a price per share of A$0.11 (amounting to 3,125,000 ordinary AB1 shares); this fee is recoupable against revenue generated by the Games. A revenue share will be payable to Atari after gross revenues generated by the Games exceed a total of US$500,000.”

Atari has been present in almost the entirety of video game history. The company is known for releasing one of the first ever consoles - Atari's Home Pong console - and for creating many well known gaming franchises, such as Tetris, Pac Man, and Space Invaders. Having such a well established gaming company adopt blockchain technology is a great milestone in both the crypto and gaming industry.

RollerCoaster Tycoon and Goon Squad

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Atari is lending the license of a franchise that has been around since 1999, RollerCoaster Tycoon. The mobile version of the popular theme park management simulation game counts with over 19 million downloads. Yat Siu, co-founder and chairman of Animoca Brands, was very pleased with the commercial agreement:

“The RollerCoaster Tycoon franchise is, like many of Atari’s properties, a true evergreen, having been around for two decades. Given the strategic and commercial elements of this incredibly fun simulation, it is a perfect candidate for blockchain adaptation.”

Also included in the deal is Goon Squad, a multiplayer card-based strategy game launched in 2017.

Animoca Brands expects to publish both games by the second half of 2019. The new titles will integrate blockchain technology and non-fungible tokens (NFTs). This will ensure that items are unique and cannot be copied, while guaranteeing  a virtual economy that is transparent and decentralized.

Binance Acquires Crypto Debit Card Issuer for an Undisclosed Sum

Leading cryptocurrency exchange Binance has acquired cryptocurrency debit card issuer Swipe for an undisclosed sum, in a deal that gets the platform one step closer to issuing its Binance Card.

Finance Magnates reports the firms shared revealed the companies will “work together to further mainstream adoption of cryptocurrencies,” by further bringing fiat and digital assets together. The deal will allow for cryptos to be used as a payment method in the traditional financial system.

Binance unveiled its plan to launch a Visa crypto debit card earlier this year, but was having difficulties implementing it. The acquisition of crypto start Swipe should help fix these difficulties and support the exchange in its “mission of making crypto more accessible to the masses.”

Per Binance CEO Changpeng Zhao, off-ramps are a key component to be considered in its mission. He added:

By giving users the ability to convert and spend crypto directly, and have merchants still seamlessly accept fiat, this will make the crypto experience much better for everyone.

Binance and Swipe listed each other’s native tokens as part of the deal. Binance now has trading pairs for Swipe’s SXP token, while the Binance Coin (BNB) was added to the cryptocurrencies, stablecoins, and fiat currencies available as a payment method on Swipe.

Swipe, it’s worth noting, converts cryptoassets into fiat currencies at the point of purchase. Users pay in a cryptoassets of their choice, which is then converted into fiat currency the merchant receives, so the latter does not have to manage cryptoassets, or accept payments in them directly.

Swipe’s cards are issued by Contis Financial Services, a visa Principal Member regulated by the UK’s Financial Conduct Authority. They are available in 31 countries within the European Economic Area, and support transactions in euros, pounds, U.S. dollars, Korean won, and Philippine pesos.

The firm’s CEO Joselito Lizarondo revealed partnering will Binance will “place Swipe in the position to make cryptocurrencies more accessible for millions of users worldwide.” Binance Card users will be able to get up to 4% cashback in bitcoin on their purchases, which will be available in over 50 million locations in the world.

Featured image via Pixabay.