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Why Is Atari Token (ATRI) Down Over 25% Today?



 While the majority of coins are making significant gains, Atari Token (ATRI) is nosediving.


At the time of writing, Atari Token is trading at $0.012993 after hitting a daily high of $0.0183 and a daily low of $0.01112.


But why is the token price falling? In this article, we will focus on all possible reasons behind the downtrend.


Why is the Atari token price falling?

Before going into the details of why the token is going down, let's first understand what Atari is.


Atari Token is a decentralized cryptocurrency launched on the Ethereum blockchain to establish a universal mode of payment in the Atari video game space and offer publishers and developers a new way to monetize their products.


Now let's look at why the token price is falling.


Atari ends its partnership with the ICICB Group

One of the main reasons for the decline is the announcement by gaming company Atari in a press release that it has ended its partnership with ICICB Group.


The two companies had partnered to launch the cryptocurrency and also Atari-branded hotels around the world.


That was in 2020 when hotels announced they would accept ATR as a form of payment, where the gaming brand would receive a 5% share of all revenue from the deal, with each venue offering an immersive video game theme.


This was a major blow to the cryptocurrency and its holders. Following the news, the token has seen a downtrend.


It's not clear what changed the deal, however, but the Covid 19 pandemic may have helped plans to build extravagant shelters around the world take a little longer.


Atari informed investors that ICICB Group is not authorized to represent the Atari brand on any of its official websites, social media channels or white papers.


compensation to its holders

Despite all this, a snapshot of all ATRI holders was taken on Monday afternoon, April 18, 2022. A new exchange platform will be launched at a later date, so investors need not worry.

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