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Atari token falls 70% just days after public sale concludes

Atari token falls 70% just days after public sale concludes

Atari Token (ATRI), the primary foray right into a gaming digital foreign money by legendary online game builders Atari Interactive, ended its first 36 hours of buying and selling down virtually 70%. The present value is effectively under the general public sale value and is even under the discounted value within the presale rounds.

The token sale — held on Bitcoin.com alternate and concluding two days earlier than buying and selling started — was reportedly marred by a number of mishaps. These included challenges with order processing, non-crediting of funds, and delays in withdrawals of as much as 16 hours. The Atari Token group has but to touch upon these points and their usually-active Twitter account has been comparatively silent over the previous few days.

By the point public sale members have been capable of entry their tokens, on Nov. 2 round 3pm UTC, the worth of ATRI had already been crushed, falling as little as $0.04, which represents an 84% low cost from the general public sale buy value of $0.25.

Tokens have been additionally bought at a reduced fee in three presale rounds, at $0.08 per token within the first two rounds and $0.16 within the third. In all rounds, token gross sales reached their arduous cap quantities of $1 million per spherical.

Although initially launched on Bitcoin.com Alternate, buying and selling quantity for ATRI has been fast emigrate to Uniswap, which now hosts the token’s hottest pairing: ATRI/WETH.

Atari Token’s said mission is to “deliver decentralization and universality to the online game and interactive leisure trade,” with ATRI used as a utility token throughout a number of video video games and different aspects of interactive leisure.

The idea for the token was first launched by Atari in June of this 12 months. On November 2nd, Atari introduced that the web multiplayer recreation Karma the Recreation of Future will use ATRI as an in-game foreign money for purchases and transactions.

Along with its utility token endeavors, Atari additionally plans to launch a line of NFT collectibles on the WAX blockchain. The primary collection to be launched options online game field artwork from Atari’s unique console video games, enhanced by added movement, graphics and 3D components.

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