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Atari to sink as much as $3.5 million into retro sport streaming platform Antstream

Retro sport streaming platform Antstream has obtained a contemporary infusion of funding from Atari with the intention to proceed increasing. The sum consists of an preliminary funding of $500,000, however might attain $3.5 million down the street.

A press launch from Atari explains that the preliminary $500,000 is pursuant to a convertible mortgage settlement that may be transformed into fairness in a future financing. If that bigger $3.5 million funding involves move, this’ll imply Anstream has raised over $20 million to-date. The corporate intends to make use of the money so as to add to its library of video games and launch in additional nations.

Based in 2013, Antstream Arcade permits gamers to entry over 1200 titles, together with classics like Pac-Man, Mortal Kombat, and Area Invaders, via an ad-funded freemium service or paid subscription.

The platform is at present supported on cell and pill gadgets alongside Mac, PC, and Amazon Hearth Stick, however Anstream CEO Steve Cottam hopes so as to add extra platforms sooner or later.

“Cloud gaming is the way forward for the video games trade, and this newest funding will allow us to develop our trade main library of video games, but additionally make them out there on extra gadgets and in additional nations than ever earlier than,” commented Cottam in a press launch.

Antstream beforehand picked up a “substantial funding” from Chinese language firm Tencent in 2019.

Curiously, the identical submitting from Atari additionally paves the way in which for a possible
Atari acquisition of the Mobygames web site and database. As outlined in Atari’s press launch, Atari now has the choice to buy these Mobygames property for
$1.5 million by March 2022.

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