Gaming company ATARI are moving into the Cryptocurrency space.
Atari have recently made the announcement of their development of not one but two new cryptocurrencies. These will be the Atari Token and the Pong Token. Many may be to young to remember the company but one of the important things to know is the fact that it was part of a movement to decentralize arcade games. It had much success back then but just how successful could it be in the future?
Atari has revealed a partnership with blockchain company Infinity Networks to create tokens as part of a new investment deal.
The company is developing a decentralized platform giving access to a wide range of of digital entertainment services such as video games, movies and music. This platform will operate using a cryptocurrency, the Atari Token.
Is USI Tech another Bitconnect style pyramid scheme?
A cryptocurrency investor denies being involved in a pyramid Scheme.
Stephen Lenoci, 34 and his best friend Daniel Colosi, 31 began investing with USI Tech last year (2017). The pair began with an initial investment of $5,000 but claimed they would be millionaires by the end of 2018 and they have hit back at suggestions they are involved in a pyramid scheme, despite admitting to it in a TV interview.
The pair invested their $5,000 in USI Tech and quickly started making as much as $2,000 per day. The company claim to trade cryptocurrency on behalf of its members and promising returns of one per cent, as long as the members recruit others.
The company has recently been hit with "cease and desist" orders by authorites in both Canada and the US amid claims it is a pyramid or ponzi scheme - an illegal business model.
In an interview with 60 minutes Mr Lenoci said ' you could call it (USI Tech) a pyramid scheme' only to back away from his claims when interviewed by the Australian Daily Mail a day later.