Atari Token has flopped. Right after the listing, ATRI was already down to 84% in value. Many users ranted on Twitter, calling Atari Tokens a scam, with the company staying quiet.
Atari Token‘s presale began last March, and it was successful. Atari introduced the Telegram channel for the ATRI last May, and things started to get weird immediately. Users have reported issues with the white paper and confusion around two websites for the same purpose: Ataritoken.com and Atarichain.com.
The Public Sale and Listing
The day of the public sale has arrived; it can be described as a disaster. The majority of orders were not sent through. The users reported that the support staff ignored them. The situation was resolved, and an apology has been issued; however, the investors were stunned.
Atari told the presale buyers that they would transfer their tokens from the exchange five minutes after the listing. Users judged Atari, asking how such a transition can be made smoothly in a short time. The admins were dismissive of these concerns.
By the time the listing arrived, the token‘s value was shaky, boosting up from 0.25 to 0.92 and then quickly cashed to 0.16.
Atari’s admins and its Twitter remained silent for the time being. This left the two newer moderators to try answering questions from angry investors.
Now the value of the Atari Token shows bearish tendencies. The coin has been down to 14.26%. The Atari Token official Twitter had only been updated once ever since the day of listing.
How can this happen?
The single largest reason is without a doubt Atari’s faded reputation. The attempt to rest on its gamer market assumed that Atari had a certain amount of respect that it only didn’t have among gaming audiences.
Atari had not released a console in 26 years at this point and had few major game releases in recent years. The one primary reason is Atari’s faded reputation. The attempt to rest on its gamer market has assumed that Atari had the respect that didn’t have among gaming audiences. In 26 years, Atari hasn’t released a console, and at this point and had a few major game releases in recent years.
Regardless of having a devoted audience of gamers who remembered Atari’s days in the 80s and 90s, the intervention between the fans of Atari and early investors in cryptocurrency will not have been large enough.
Studies showed that millennials are likely to invest in cryptocurrencies. These millennials are not the fans who have seen Atari’s rise in their childhood, but a group of people who haven’t seen the company fall from grace quickly.
Another issue is the lack of usage cases, being restricted entirely to Atari products, specifically the Atari Casino service – putting themselves in competition with a host of Bitcoin and Ethereum gambling services.
The vital issue was the treatment of its fan admins. The move to remain silent on all social media and allow the unpaid enthusiasts to defend the service has been entirely inappropriate and exploitative. The admins have given the fans an element of power and used them as blame when the coin messed up. Companies that enter into blockchain technologies shall hold to a much higher and professional standard.
Is it Game Over?
But this is not the end of the story. The Atari token is still listed, and the integration with the new Atari VCS service has just been announced; it still has a chance of bouncing back.