Atari will conduct a public token providing on Bitcoin.com in early November. As quickly because the providing is full, the ERC-20-based AtariToken will change into accessible for trading 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 believes the token sale may take as little as one second:
“It relies upon. It might be 1 second, might be 1 hour. It is determined by 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 thus far in private rounds. Chesnais mentioned that for him, an important factor a few public providing just isn’t elevating further capital however the speedy subsequent liquidity. He has been negotiating with numerous DeFi protocols about doable use instances 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 may create a singular DeFi use case — recreation financing, which entails the funding of latest video games in trade for a portion of its future income:
“We wish to announce that we’re going to be listed as a result of I’ve accomplished greater than three billion euro of investments in video games and recreation financing. And after I know that the token is listed, I will suggest some very revolutionary formulation for recreation financing. That is certainly one of my objectives.”
He famous that the sale will likely be compliant with all native laws and, as such, won’t be accessible to U.S. residents. Atari is a publicly listed firm, although the token providing is carried out via a Gibraltar-based entity during which 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.