In an attempt to create a new proprietary token, Atari SA and its subsidiaries, announced the termination of its joint venture with ICICB Group and its subsidiaries.
Speaking of its token, Atari will create, distribute, and also manage a new token with a focus on gaming, community, and services.
As per the blog, a snapshot of ATRI token holdings was taken at exactly 18 April 2022 at 6:00 PM CET and Atari will use a future exchange of the new token for the ATRI tokens held as of that time.
To participate, ATRI holders will have to give their ATRI tokens at the time of the exchange. For eligibility of the exchange, the tokens present in wallets (during the time of the photo) must be in equivalent amounts to those captured in the photo.
Any tokens procured after the snapshot will not be eligible. Atari will direct holders to further updates as additional information and timelines come up.
Atari, which is one of the world’s most iconic consumer brands and interactive entertainment producers, has terminated the Atari Chain Limited license and the relevant licenses including hotel and casino licenses.
The licenses have been terminated in effect from 18 April 2022. Thus, ICICB is not permitted to represent Atari or its brands in any way.
The company disclaimed any interest in the Joint Ventures and informs the public that the Atari Tokens and related websites (i.e. www.atarichain.com, www.ataritoken.com), whitepapers, and social media channels are unlicensed, unsanctioned.
These entities are now outside the control of Atari and should not be consulted for guidance or information related to the ATRI token or Atari.
However, the firm claimed that despite the termination of the Joint Venture, Atari remains optimistic about the potential for blockchain initiatives and will continue to launch and pursue strategic ventures and partnerships in the space.
The termination of the hotel and casino license deals with ICICB will result in a write-off in Atari’s account records for an amount up to €11 million in as per accounting principles.
The financial impact of the exchange and the creation of a new token will further be revealed in the Atari’s Financial report 2022.
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