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Wednesday, September 28, 2022

Atari Recently Claimed That Its Namesake Token Is Currently Unlicensed

Atari, the giant company of video games recently published a statement where it stated that they have discontinued all agreements of license with ICICB Group and their subsidiaries who are the joint venture partner of the video game company. In the past, ICICB Group and Atari have developed the Atari Chain and Atari Token (ATRI). However, the company had a change of mind and was not satisfied with the deal. 

Atari Terminated The Joint Venture Blockchain Partnership With ICICB 

The video-game company declared that it has no intention to have the joint venture with them and asks them not to use their brand name in any kind of representation. In the future, Atari outlined its plan to distribute, manage on its own and construct its own token which will focus on community, utility, and gaming. 

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However, there are rumors that the investors of the company will get some respite. The company also stated that a snapshot has been taken of the holdings of ATRI till 18th April 2022. The company will now execute an exchange for the future of a brand new token for the token of ATRI that was held by them till the 18th of April. 

The tokens that existed in the wallets as per the snapshot and the amount must be equal to the captured amount and then it will be eligible. Thus, tokens taken after the snapshot will be rejected. Moreover, in the space of crypto, Atari is a very functioning player and has a lot of interest to develop NFTs

The price of tokens was down by 9.47% which lowered the capital in the market to $26 million and all of this happened after the publication. Thus, the company disclaimed all interest in ICICB which was promoted as Atari tokens and as all other websites that are related to them. All the channels of social media and whitepapers are unsanctioned and unlicensed and the company would not be able to control them.

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