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Already grappling with upstart rivals and the rise of e-commerce, personal-care and packaged-foods makers now face the threat of voice-search assistants that often offer customers just one or two product options.
WSJ.com: US Business
For generation X-ers, old enough to remember a time when photographs were analogue and games consoles were 16-bit, brands such as Kodak and Atari evoke fuzzy nostalgia. Nothing perfect lasts forever though, and those companies which once dominated their respective spheres have not aged well. Many assumed these 80s stalwarts had already given up the ghost amidst growing financial problems. As it turns out, not only are the Kodaks and Ataris of the world still limping on, but they’re seeking an injection of new blood and fresh capital in the form of an ICO (Initial Coin Offering).
Also read: Kodak Getting Into Bitcoin Mining
The Childhood Companies Coming for Your Crypto
Kodak’s descent from photographic giant to failed firm desperately trying to find its niche is a sad one for anyone old enough to associate the name with better times. In the pre-digital age, companies such as Kodak and Atari were mainstays of popular culture. Times change and the companies that fail to innovate get left behind. Kodak’s sudden transformation into crypto miner and ICO entrant has already been picked apart. Atari’s has attracted less scrutiny, but bears many of the same hallmarks.
In 2013, Atari filed for bankruptcy which, coincidentally, was the same year that Kodak followed suit. Five years on and Atari is throwing its hat into the blockchain ring. The pattern is a predictable one now: company trading on former glories announces ICO. Stock leaps by over 50%. Reality settles in. Stock tumbles. The company once synonymous with such classic games as Space Invaders, Pac-Man, and Asteroids is now seeking to establish a reputation as a cryptocurrency pioneer, powered by its Atari Token.
You Nostalgia, You Lose
Brands are obliged to move with the times. The alternative is extinction. Thus it would be unrealistic to expect Atari to base its core business model around churning out retro consoles, just as it would be unrealistic to expect Kodak to turn a profit from selling photographic film. The entry of these brands into the crypto space is not in itself a cause for concern or recipe for mockery. Rather, it’s the way in which these firms have gripped onto this outstretched branch in a bid to break their fall that invites scepticism.
Investment research firm Kerrisdale Capital savaged Kodak’s proposed ICO, branding it “worthless” and the last grasp of a “dying relic of American manufacturing”. Little is known about Atari’s proposed cryptocurrency, other than that the company’s CEO Frederic Chesnais was quoted as saying: “Blockchain technology is poised to take a very important place in our environment and to transform, if not revolutionize, the current economic ecosystem, especially in the areas of the video game industry and online transactions”.
Until more information emerges, Atari deserves the benefit of the doubt. It is hard to shake the feeling though that these companies are less interested in blockchain’s disruptive potential than its ability to prop up their balance sheets. Beware of faded brands coming for your crypto and tainting your childhood memories into the bargain.
Do you think Atari’s entry into the cryptocurrency market is genuine or is it just a cash grab? Let us know in the comments section below.
Images courtesy of Shutterstock, and Atari.
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The post Atari Joins Growing List of Old Brands Trying To Revitalize Through Cryptocurrency appeared first on Bitcoin News.
Four brands of dog food under the JM Smucker Co. umbrella have been recalled after a DC TV station tested one of the brands and found traces of a euthanizing drug used on dogs, cats, and horses in 60% of the samples. The AP reports that shipments of cans of…
PR: Luxure Global Citizen Statement – Luxury Rewards Platform for the World’s Most Prestigious BrandsFebruary 11, 2018 | dailybusinessnews
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
In 2017, Luxure Global Citizen identified the incredible potential of creating its own
Cryptocurrency based on a bespoke business model and structure.
Luxure Global Citizen saw the Cryptocurrency as something that would be complementary to its core business in two ways: Accepting the digital currency as form of payment against luxury goods & products and offering valued members a 5% reward in the Luxure Global Citizen digital currency.
Luxure Global Citizen was approached by Populous World Ltd with an offer to create a Cryptocurrency in return for 10% of the invoices to be filtered through the Populous invoicing platform.
Luxure Global Citizen came to an agreement with Populous World Ltd but made the decision to terminate this arrangement with immediate effect from February 1st 2018.
Luxure Global Citizen has retained experts in this field to build its own Cryptocurrency internally. For information and updates, please visit the new website which is launched on February 9th 2018, URL here: www.luxureglobalcitizen.com
Luxure Global Citizen sympathises with those who have been affected by the unauthorised Populous World Ltd announcement of September 2017.
As a result of this inconvenience, Luxure Global Citizen will offer all those affected our forthcoming “LGC-Coin” at the initial private sale in the coming weeks. This is a goodwill gesture from Luxure Global Citizen and the date of this private sale will be announced via email.
Should any affected party wish to participate in the initial private sale of the “LGC-Coin” please contact Luxure Global Citizen directly with proof of your purchase with Populous World Ltd via the aforementioned website.
About Luxure Global Citizen
Luxure Global Citizen is a celebration of the finest brands and luxury shopping destination
for our selected membership base. Members can enjoy the benefits of raising new special
orders and view their account to see monthly 5% Cash Reward statements.
Contact Email Address
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
The post PR: Luxure Global Citizen Statement – Luxury Rewards Platform for the World’s Most Prestigious Brands appeared first on Bitcoin News.
An activist investor is launching a proxy fight to oust the entire board and chief executive of Newell Brands, a conglomerate that makes everything from Elmer’s glue to Mr. Coffee machines.
WSJ.com: US Business
Team Dream is a small business by most any measure.
The quirky cycling apparel brand has just five employees. It produces only about 100 pieces of each garment and operates out of a converted gas station in San Marino, where a closet-sized nook doubles as both a fulfillment center and R&D lab.
What cars do Americans like most—and least? 24/7 Wall St. takes a look at scores from the 2017 American Customer Satisfaction Index for cars to answer that question. The five car brands that ranked the highest, on a scale from 1 to 100: Lexus , 86 Toyota, 86 Subaru, 85…
Treasury Secretary Steven T. Mnuchin’s wife, Louise Linton, did herself no favors when she took to Instagram this week to brag about the luxury brands she was wearing and then belittled a commenter who called her out for her let-them-eat-cake behavior.
“It’s as stupid as stupid gets,” said Leslie…
When clothing brands such as Merona and Mossimo helped propel Target Corp. to new heights in the 1990s and early 2000s, an H&M was not in every mall.
Online subscription services such as Stitch Fix were not yet on the horizon.
Amazon sold mostly books.
And department stores and shopping malls were…