The value of the Ethereum-powered Atari (ATRI), one of the most iconic brands in the gaming business, dropped by 30% after Atari withdrew itself from the cryptocurrency project. This was confirmed when all licencing agreements with ICICB Group and its subsidiaries were terminated. The token has lost 98.4% of its value since it’s all-time high.
ICICB Group and the iconic game creator collaborated to build the Atari Chain subsidiary and simultaneously release the ATRI token. The company also released Atari decentralised exchange where users can exchange ATRI, ETH and FTM tokens. The entertainment industry might expect cryptocurrency as a token of reference.
ICICB group may not utilise Atari brands in any form because of licence termination. The company has also issued a warning stating that whitepapers, websites and social media platforms are unapproved and unlicensed.
Atari is still interested in Blockchain and cryptocurrency
Atari claims that it is still interested in blockchain and cryptocurrency, despite its separation from ICICB Group. Atari has opted to release a new proprietary token to current ATRI holders.
Atari commanded the industry of video games in the 1970s and early 1980s. It has tried to revive its brand using cryptocurrency, non-fungible tokens, and other initiatives to reinvent itself as a future blockchain corporation.
Atari introduced a casino themed cryptocurrency last year in its games. Atari has also announced a significant alliance with Polygon, a popular Layer 2 solution based on Ethereum this year.
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