Wednesday, April 14, 2021
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Atari creates divisions for gaming and blockchain, changes CEO

Atari has divided itself into two components, with one division that can deal with video games and one other that will probably be targeted on blockchain.

The gaming model will probably be known as Atari Gaming, whereas the opposite will probably be Atari Blockchain. Fred Chesnais, former CEO of Atari, will develop into the top of the Atari Blockchain division, whereas Wade Rosen, beforehand appearing chairman of the board, will develop into the corporate’s new CEO.

The blockchain division is growing the Atari Token cryptocurrency and third-party use of Atari content material for issues like nonfungible tokens (NFTs), blockchain video games, and blockchain-based on-line worlds. This division is likely to be spun off as a separate firm. Rosen stated he was honored to be Atari’s new steward.

Atari CEO Fred Chesnais

Above: Former Atari CEO Fred Chesnais will now run the blockchain division.

Image Credit: Atari

“I would also like to thank Fred Chesnais for turning around the company, which is now well positioned for such incredible long-term success,” Rosen stated in an announcement. “When Fred stepped into the role of CEO, he inherited a situation burdened with debt. Since then, he has eliminated debt and enacted a meaningful turnaround. He had the foresight to push Atari into cutting edge markets like blockchain, the VCS, and the Atari Hotels. It’s because of him that the company is at its strongest valuation in seven years. We thank Fred for his leadership and are excited to continue working with Fred as he focuses on Licensing for the entire group and the development and growth of the exciting Blockchain Division created today.”

Chesnais introduced Atari out of chapter. While his Paris-based firm turned itself round with a licensing technique, there have been some hiccups alongside the way in which associated to the VCS console.

In an announcement, Chesnais stated, “Eight years ago, when I came back, the brand was given for dead. This spectacular turnaround is the result of solid teamwork and support from the shareholders, and I would like to thank each and every one of these individuals. We can all be proud of this outcome. The Atari brand is alive, more than ever, and this organization in two divisions will enable it to respond better to changes.”

Atari’s Games division will embody all property not included within the blockchain division and it will likely be targeted on video games, together with the increasing retro recreation market. It may even license its title to accommodations and casinos.

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