Atari invests in Antstream while pondering Mobygames acquisition to secure retro gaming future

Atari has sunk a load of quarters into the company behind Antstream Arcade, to the tune of half a million dollars. The UK-based retro game streaming platform is likely to receive a further $3m (£2.3m) from Atari in “strategic investment” over the course of the next few months, related to which is the possible acquisition of Mobygames for $1.5m (£1.1m).

“The investment in Antstream Limited was made pursuant to a convertible loan agreement that can be converted into equity of Antstream Limited in a future financing, with an initial investment of US$500,000. The option to purchase the assets of Mobygames is at a purchase price of US$1.5 Million and may be concluded by the end of March, 2022.”

The press release mentions, rather conveniently, that Atari has received a cash payment of nearly $4.3m (£3.2m) from the sale of “non-fungible token parcels of land within The Sandbox.” The Sandbox, which boasts 500,000 users and has itself just raised $93m (£70m) in funding, calls itself “the leading open NFT metaverse platform.”

About Richie Shoemaker

Prior to taking the editorial helm of MCV/DEVELOP Richie spent 20 years shovelling word-coal into the engines of numerous gaming magazines and websites, many of which are now lost beneath the churning waves of progress. If not already obvious, he is partial to the odd nautical metaphor.

Check Also

How passion puts the quality into quality assurance

Room 8 on bringing exceptional quality to quality assurance