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Atari token falls 70% just days after public sale concludes

Atari 's latest Ethereum token dropped off the cliff when trade began, leaving investors questioning what was behind the dump.

Atari Token (ATRI), the first foray into gaming digital currencies by iconic video game creators Atari Interactive, finished the first 36 hours of trading down almost 70%. The current price is just below the public selling price and much below the subsidized price in the pre-sale rounds.

Token sales —held on exchange and completed two days before trade began— are stated to have been marred by a series of mishaps. This involved difficulties in the handling of orders, non-crediting of funds and delays in withdrawals of up to 16 hours. The Atari Token team has yet to comment on these issues, and their regular active Twitter account has been largely quiet over the last few days.

By the time public sales investors were able to access their tokens, the price of ATRI had already been crushed at about 3 p.m. UTC on November 2, declining as low as $0.04, which reflects an 84% discount from the $0.25 public selling price. 

Atari Token ‘s goal is to “bring decentralization and universality to the video game and interactive entertainment industry,” using ATRI as a utility token through various video games and other aspects of interactive entertainment. In addition to its utility token endeavors, Atari also plans to introduce a line of NFT collectibles on the WAX blockchain. The first series to be published includes video game box art from Atari ‘s original console games, augmented with additional motion, graphics and 3D features.The idea of the token was first implemented by Atari in June 2020. On November 2, Atari revealed that the online multiplayer game Karma the Game of Destiny would use ATRI as an in-game currency for purchases and transactions

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