A form of arpeggio has been used in older game consoles and computers, as a replacement for chords in music. It gives video game music its peculiar 'chirping' or 'bubbling' sounds.

For example, the first trackers could only play four notes at a time (i.e. they had a polyphony of four). Hence a typical chord of three simultaneous notes would leave only one channel available for other instruments. The solution was to play the required notes in a rapid succession in just one channel. If the notes are alternated quickly enough, they will appear to blend together slightly, giving a vaguely chord-like effect (e.g. major or minor in a certain key). The sound is quite different from a proper chord, but it can sound nice and interesting if it's not overused. Even some modern bands like Machinae Supremacy (http://machinaesupremacy.com/) use arpeggiated sounds to create a retro electronic feeling.