Atari wants to be a real estate whale in the Metaverse
October 18, 2021, 3:38PM EDT · 2 min read
Episode 66 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Manfred Mantschev, Head of Blockchain at Atari.
Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information
Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.
“For us it’s almost like having a store on 5th avenue”.
Atari is gearing up to celebrate its 50th anniversary, and appropriately enough the company is kicking off its half-century birthday not in the physical world, but in the metaverse. Specifically, it is hoping to capitalize off of the "land" it owns in virtual worlds built by Decentraland and The Sandbox.
Atari's Head of Blockchain Manfred Mantschev told host Frank Chaparro on The Scoop: “When these plots came up the value of the adjacent plots would go up because people recognized the Atari brand, and that image would basically drive people, drive interest to the whole project. So that's kind of how we got started.” Real estate in the metaverse continues to sell for record breaking amounts.
With early hits such as Pac Man, Pong, and Centipede, Atari is known as a landmark maker of arcade games of the 70s and 80s. Today, Atari’s familiar brand is often seen in nostalgia plays for consumers. By appearing in productions like Stranger Things, Ready Player One and Blade Runner the company has found new relevance.
Atari is hoping to onboard a wider audience into the metaverse in the same way that big brand storefronts attract shoppers to enter a shopping mall. Its mission now, Mantschev explained, is to convince users to enter the metaverse, where Atari hopes to be a familiar face in a new virtual world. "The same way a mall wants to have a flagship store in the mall and smaller stores next to it are prepared to pay higher rents just because there is a sought-after anchor tenant in the mall."
How exactly Atari plans to incorporate its established games and brand is unclear, but the company is exploring numerous on-chain product offerings including gamified NFTs that can unlock special user privileges in a game. Mantschev, who collects NFTs himself, believes that NFTs are “front and center” for Atari. In this way, Atari sees the metaverse as a means of enabling people to own their IP and views their early entrance into the metaverse as a functionally important builder of this new gaming ecosystem.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.