Atari Unveils New Token Plans and Ends Joint Venture
Atari SA, a renowned name in interactive entertainment and consumer branding, has officially announced the discontinuation of all licensing agreements with ICICB Group and its subsidiaries. This decision, effective from April 18, 2022, includes the termination of the Atari Chain Limited license and other related agreements covering hotel and casino operations. Following this move, ICICB is no longer permitted to act on behalf of Atari or promote its brands in any capacity.
Atari has made it clear that it disassociates itself from the Joint Venture, which had been marketing “Atari Tokens” along with various related digital platforms and resources. The company emphasizes that these endeavors are unauthorized and operate without Atari’s endorsement, urging the public not to rely on them for any information regarding the ATRI token or its brand.
Despite the end of the Joint Venture, Atari expresses optimism regarding blockchain technology and is committed to exploring strategic opportunities in this area. The company plans to develop, manage, and distribute a new proprietary token that will prioritize gaming, community engagement, and practical applications within its ecosystem.
As part of this transition, a record of ATRI token holdings was taken on April 18, 2022, at 6:00 PM CET. Atari has announced plans for an exchange where holders of ATRI tokens will be able to swap their tokens for the new ones, provided they present their ATRI tokens at the time of the exchange. Only tokens held in wallets at the snapshot time will be eligible, and any tokens obtained after this timestamp will not qualify for the exchange. Further details and timelines will be communicated to token holders via official channels.
The termination of the hotel and casino agreements with ICICB is expected to result in a financial write-off for Atari, anticipated to reach up to €11 million, as noted in their accounting records. The financial implications of the new token creation and exchange will be detailed in the forthcoming Atari FY22 annual report.
About Atari
Atari, which includes Atari SA and its subsidiaries, is a prominent player in the global interactive entertainment industry and a leader in multiplatform licensing. Established in 1972, Atari has been a pioneer in video gaming and owns a diverse portfolio of over 200 games and franchises, featuring iconic titles like Asteroids®, Centipede®, Missile Command®, and Pong®. The company leverages its intellectual properties to offer engaging online games across various platforms, including smartphones and gaming consoles from Microsoft, Sony, and Nintendo. Additionally, Atari partners with other media outlets to extend its brand through licensing agreements, derivative products, and publishing ventures.
Atari’s shares are traded on Euronext Paris (Compartment C, ISIN Code FR0010478248, Ticker ATA) and are also part of the Nasdaq International program in the United States (OTC – Ticker PONGF). For further inquiries, investors can reach out through designated contacts provided by Atari and its investor relations firm, Calyptus.
