Atari Token Tanks Has Plunged More Than 30% in The Last 24h
The significant drop happened after Atari, one of the most famous companies in the game business, withdrew itself from the cryptocurrency project in a Monday blog post by announcing the termination of all license agreements with ICICB Group and its subsidiaries.
In order to build the Atari Chain subsidiary and jointly launch the ATRI token, ICICB Group formed a partnership with the iconic game creator. Cryptocurrency was expected to become the industry standard in the entertainment business. In addition, the business launched the Atari decentralized exchange, which allows users to exchange ATRI, ETH, and FTM tokens.
Atari announced a strategic relationship with Polygon, a popular Layer 2 solution built on top of Ethereum, in February. As a result of the license termination, ICICB Group is no longer permitted to utilize Atari’s brands “in any capacity.”
The business has issued a warning that the coins’ website, whitepapers, and social media platforms are unlicensed and unapproved. Despite the fact that it has severed connections with the ICICB Group, Atari says it remains interested in crypto and blockchain, which is why it has opted to give a new proprietary token to existing ATRI holders.
Atari, which led the video game business in the 1970s and early 1980s, has attempted to revive its brand through crypto, non-fungible tokens, and other projects in order to become a futuristic blockchain firm. Atari introduced a cryptocurrency casino based on its games last year.
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