- Legal States
Luke Thompson January 28, 2022 3 min read
Atari Celebrates 50th Anniversary with NFT Loot Boxes
Atari, a company that established some of the most beloved gaming franchises, sunk into oblivion, and then came back with a promise to create casino resorts, and launch a dedicated crypto online casino, had many of these plans scuppered by a global pandemic and perhaps just a smidgeon of bad executive decisions.
Atari Reveals NFT Project and Loot Boxes
Some, though, have stuck around. The ATRI cryptocurrency token that is going to be used in the company’s dedicated crypto casino and metaverse aspiration is aided by Decentral Games. Meanwhile, the company is back on the blockchain to introduce yet another solution that brings the world of crypto, blockchain, and gaming together.
Atari is celebrating its 50th anniversary with a special non-fungible token loot box aptly called “GFT,” as they are giftable purchases that Atari fans can exchange. Most of these GFTs are rare and they contain memorabilia from the company’s history that true fans would supposedly appreciate. The company stated:
“A GFT is a surprise, limited edition, gift-wrapped NFTs designed to delight – on any occasion. Each GFT is a limited collection, with some GFTs [rarer] than others. On a specified date, GFTs unwrap, and holders will find out exactly what’s inside their GFT surprise gift box.”Atari
The giftable content will be based on Atari’s library of games that spans 50 years. However, the company has not confirmed any details about when the release maybe, although the statement did point to a “specified date.”
The Company Is Driving Strong Forays in the Metaverse
Because of the somewhat controversial nature of loot boxes, Atari has chosen to display the actual “drop chances” of collecting an item of particular rarity and value. For example, GFTs of epic rarity has 1% of dropping. Then again, GFTs of rare value has a 5% chance of dropping.
Loot boxes have often been linked to gambling, although actual regulatory opinions about whether they actually are a form of gambling are conflicting. Even though skepticism has been mounting against loot boxes, there has been no sweeping action against them.
Meanwhile, Atari CEO Wade Rosen said that the company brand has become synonymous with video gaming, and Rosen is confident that this legacy may now translate into the metaverse.
The official company statement also mentions “more to come in the metaverse,” suggesting that these GFTs are just a taste of what is to come when the company launches in the metaverse in earnest.