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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.”
