Matrix Blaster is one of the video games created by Kevin Flynn in 1981 while working at ENCOM. Along with Space Paranoids, this game was stolen by Ed Dillinger and claimed as his own, before Flynn got evidence against Dillinger and had him fired.
The game became a great success and helped start ENCOM's reign as the biggest video game company in the world.
Matrix Blaster was only briefly mentioned by Flynn in the movie. The game itself is never shown, however a neon Matrix Blaster sign can be seen in some shots of the arcade.
2009 Flynn's Arcade Reopening
A Matrix Blaster neon sign could be seen hanging on a wall at the Flynn's Arcade reopening event in San Diego.