Atari claims its namesake token is now ‘unlicensed’ as it terminates blockchain joint venture
2022.04.19 01:46
Atari claims its namesake token is now ‘unlicensed’ as it terminates blockchain joint venture
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. Previously, the two had jointly created the Atari Chain and the namesake Atari Token (ATRI). 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.”
Moving forward, Atari plans to create, distribute and solely manage a new proprietary token focusing on gaming, community and utility. But it appears there will be some form of respite for ATRI investors. As told by Atari, the company has taken a “snapshot” of ATRI holdings as of April 18, 2022, at 6:00 pm CET. Atari will then implement a future exchange of a new token for the ATRI tokens held as of that time.
