![]() Atari had not released a console in 26 years at this point and had few major game releases in recent years. The attempt to rest on its gamer market assumed that Atari had a certain amount of respect that it simply didn’t have among gaming audiences. The single largest reason is without a doubt Atari’s faded reputation. No official address has been given on the events. The Atari Token official Twitter has only been updated once since the day of listing. This left the two newer moderators, that were not employed by Atari, to attempt to answer questions from angry investors.Īs of today, the value of the Atari Token is showing bearish tendencies, the coin is down 14.26%. Meanwhile, Atari’s employed admins, as well as its Twitter account, remained completely silent. In the meantime, the value of the coin continued to drop. These transfers were slow however, some investors reported having to wait between 12 – 13 hours. According to a Reddit user, after a period of time around 12 hours, a ‘claim’ button was added to the website, finally allowing users to transfer these funds. The value of the token was immediately shaky, boosting up from 0.25 to 0.92, and then very quickly crashing to 0.16. The time of listing arrived and, of course, pre-sale buyers could not transfer tokens. The admins were dismissive of these concerns. Users criticized Atari, questioning how such a transition could be made smoothly in so short a time. On the day of the public listing, Atari told the pre-sale buyers that they would be able to transfer their tokens from the exchange five minutes after listing. The situation was ultimately resolved and an apology issued, but investors were shaken. Users reported being ignored by support staff. The majority of orders weren’t sent through. It could only be described as a disaster. ![]() These additional admins proved to be controversial with users, touting absolute support for the Atari Company and its planned hotel chain. Most unusually, two of these fans were added to the admins. The chat was filled with a variety of unusual characters of various opinions, from hardcore skeptics to die-hard fans, who were passionate about investing in Atari. Users reported issues with the white paper and confusion around the existence of two websites for functionally the same purpose: and. Atari introduced its Telegram channel for the ATRI in May and things started to get weird immediately. Presale of the Atari Token began in March and was relatively successful. As it turned out, I hadn’t even begun to scratch the surface. It seemed to be a very pie in the sky idea that I wished success, but didn’t find to be likely. The company simply has a track record of being unreliable, coupled with the delusions of grandeur displayed in its marketing. And I determined that it would most likely fail. In a previous article, I speculated on the chances of Atari’s success in this field, given its spotted history. But what really happened and was this failure inevitable? Numerous users took to Twitter to call Atari Tokens a scam, with the company itself staying notably quiet. Within moments of listing, ATRI was already down 84% in value. At the time of publication, the ATRI "legacy" token is down 9.47% in the past 24 hours, lowering its market cap to $26 million.Atari Token has flopped, epically and spectacularly. Any tokens acquired after the snapshot will not be eligible," the company said.Ītari has been an active player in the crypto space, with a keen focus on developing nonfungible tokens. "Only tokens present in wallets as of the snapshot and in amounts equivalent to those captured at the snapshot will be eligible. Atari will then implement a future exchange of a new token for the ATRI tokens held as of that time. As told by Atari, the company has taken a "snapshot" of ATRI holdings as of April 18, 2022, at 6:00 pm CET. But it appears there will be some form of respite for ATRI investors. Moving forward, Atari plans to create, distribute and solely manage a new proprietary token focusing on gaming, community and utility. However, the company has had a change of heart regarding the deal, and announced it was disclaiming interest in the joint venture, stating "ICICB is not authorized to represent Atari or its brands in any manner." "Atari disclaims any interest in the Joint Venture, currently promoted as Atari Tokens, and related websites, whitepapers and social media channels are unlicensed, unsanctioned and are outside the control of Atari." Previously, the two had jointly created the Atari Chain and the namesake Atari Token (ATRI). In a statement published by former video-game giant Atari on Monday, the firm says it has, effective immediately, terminated all license agreements with its joint venture partner ICICB Group and its subsidiaries.
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