Game maker Atari Inc. announced it is teaming up with Animoca Brands Limited, a subsidiary of Animoca Brands Corporation Limited, via a license agreement to produce and publish blockchain versions of the Atari mobile game titles Roller Coaster Tycoon Touch and Goon Squad. The games will be in most territories around the world, excluding Hong Kong, China, Taiwan and Macau.
Animoca Brands will pay Atari a minimum guarantee against future revenues of US$250,000, under the terms of the agreement, which will be payable in shares of the company’s stock. By doing so, it serves as consideration for the license to develop and publish the mentioned games. A revenue share will also be payable to Atari once gross revenues generated by the games surpass a total of US$500,000.
In addition to the license agreement, both partners also engaged in a “memorandum of understanding to develop strategic partnership to in exploring mutual opportunities in gaming, product development, blockchain and other areas,” CCN reports.
“We are proud and delighted to enter into this long-term and strategic relationship with Animoca Brands, which also allows us to become a shareholder in one of the most exciting innovators in the world of decentralized gaming. We hope that this agreement paves the way to further cooperation on other Atari products,” said Frederic Chesnais, CEO of Atari.
Yat Siu, co-founder and chairman of Animoca Brands expressed his own excitement working with a legendary entertainment platform creator, while also saying he expects significant commercial upsides to the deal on both ends.
“This deal marks a special moment for me because I started my career working with Atari and using Atari computers. The Roller Coaster Tycoon franchise is, like many of Atari’s properties, a true evergreen, having been around for two decades. Given the strategic and commercial elements of this incredibly fun simulation, it is a perfect candidate for blockchain adaptation,” said Siu.