Atari claims its namesake token is now 'unlicensed' as it terminates blockchain joint venture

In a statement published by erstwhile video-game elephantine Atari connected Monday, the steadfast says it has, effectual immediately, terminated each licence agreements with its associated task spouse ICICB Group and its subsidiaries. Previously, the 2 had jointly created the Atari Chain and the namesake Atari Token (ATRI). However, the institution has had a alteration of bosom regarding the deal, and announced it was disclaiming involvement successful the associated venture, stating "ICICB is not authorized to correspond Atari oregon its brands successful immoderate manner."

"Atari disclaims immoderate involvement successful the [...] Joint Venture, presently promoted arsenic Atari Tokens, and related websites, whitepapers and societal media channels are unlicensed, unsanctioned and are extracurricular the power of Atari."

Moving forward, Atari plans to create, administer and solely negociate a caller proprietary token focusing connected gaming, assemblage and utility. But it appears determination volition beryllium immoderate signifier of respite for ATRI investors. As told by Atari, the institution has taken a "snapshot" of ATRI holdings arsenic of April 18, 2022, astatine 6:00 p.m. CET. Atari volition past instrumentality a aboriginal speech of a caller token for the ATRI tokens held arsenic of that time.

"Only tokens contiguous successful wallets arsenic of the snapshot and successful amounts equivalent to those captured astatine the snapshot volition beryllium eligible. Any tokens acquired aft the snapshot volition not beryllium eligible," the institution said.

Atari has been an progressive subordinate successful the crypto space, with a keen absorption connected developing nonfungible tokens. At the clip of publication, the ATRI "legacy" token is down 9.47% successful the past 24 hours, lowering its marketplace headdress to $26 million.