Here is a concise summary of the provided text:
**The Curse of the E.T. Video Game**
In 1982, Atari acquired the rights to create a video game based on Steven Spielberg's blockbuster film "E.T. the Extra-Terrestrial" for millions of dollars. Despite a colossal production of 5 million cartridges, the game:
* Was developed in under 4 weeks by a single designer (Scott Warshaw)
* Received scathing reviews, with critics labeling it one of the worst games ever made
* Failed to sell, leading to:
+ Atari's financial downfall (equivalent to a $700 million loss today)
+ Bankruptcies among shareholders
+ Mass layoffs (hundreds of jobs lost)
+ A devastating domino effect on the video game industry, contributing to a market crash in 1983
* Ultimately, nearly 5 million unsold cartridges were buried in a New Mexico desert
This debacle is often cited as one of the most infamous failures in video game history.
Here are the key facts extracted from the text, numbered and in short sentences:
1. **Movie Release**: The 1982 film "E.T. the Extra-Terrestrial" was directed by Steven Spielberg.
2. **Movie Success**: The film was one of the most successful of all time, ranking as the 50th family film.
3. **Atari's Interest**: Atari sought to buy a license to create a video game version of the film.
4. **License Cost**: Universal Studios authorized the video game version for millions of dollars.
5. **Developer**: Scott Warshaw, a 25-year-old video game designer, was tasked with creating the game.
6. **Development Time**: Warshaw was given less than four weeks to complete the game from scratch.
7. **Production Scale**: Atari negotiated for the production of 5 million copies of the game, a colossal amount for 1982.
8. **Total Cost**: The entire process cost approximately $125 million (equivalent to about $700 million today, adjusted for inflation).
9. **Release and Failure**: The game was released at Christmas in 1982 and was a resounding sales failure.
10. **Critical Reception**: Critics classified it as one of the worst video games ever played.
11. **Bankruptcy and Job Losses**: Several of Atari's shareholders had to declare bankruptcy, and many employees were fired.
12. **Domino Effect**: The failure led to the closure of factories that produced the game cartridges.
13. **Unsold Copies**: Nearly five million unsold cartridges were eventually buried in the Alamogordo Desert, New Mexico.
14. **Market Impact**: The failure contributed to a significant downturn in the video game market in 1983.