In September 1971, Galaxy Game was installed at a student union at Stanford University, this was the first coin-operated video game.
Computer Space was the forst video game that was mass-produced and the first for commercial sale.
Nolan Bushnell and Ted Dabney founded Atari, Inc. in 1972. They went on to create Pong, the first arcade video game with widespread success. Over 19,00 Pong machines were sold.
First Generation Consoles
The Magnavox Odyssey is the world's first commercial home video game console, it was designed by Ralph Baer.
The first generation of video games did not feature a microprocessor. This meant that no other games could be added to the console after you bought it.
Some of the other consoles considered first generation are: Atari/Sears Tele-Games Pong, Coleco Telstar, and Nintendo Color TV Game.
Video game crash of 1977
In 1977, manufacturers of older, obsolete consoles and Pong clones sold their systems at a loss to clear stock, creating a glut in the market and causing Fairchild and RCA to abandon their game consoles.
The crash was largely caused by the significant number of Pong clones that flooded both the arcade and home markets. The crash eventually came to an end with the success of Taito's Space Invaders, released in 1978, sparking a renaissance for the video game industry
