Atari token falls 70% simply days after public sale concludes

Atari Token (ATRI), the primary foray right into a gaming digital forex by legendary online game builders Atari Interactive, ended its first 36 hours of trading down nearly 70%. The present worth is effectively beneath the general public sale worth and is even beneath the discounted worth within the presale rounds.

The token sale — held on trade and concluding two days earlier than trading 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 crew 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 contributors had been in a position to entry their tokens, on Nov. 2 round 3pm UTC, the value of ATRI had already been crushed, falling as little as $0.04, which represents an 84% low cost from the general public sale buy worth of $0.25.

Tokens had 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 Change, trading volume 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 business,” with ATRI used as a utility token throughout a number of video video games and different sides of interactive leisure.

The idea for the token was first introduced by Atari in June of this 12 months. On November 2nd, Atari announced that the web multiplayer sport Karma the Recreation of Future will use ATRI as an in-game forex 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 features online game field artwork from Atari’s unique console video games, enhanced by added movement, graphics and 3D components.

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