For the moment, there is no stopping the hype swirling around the hot Initial Coin Offering market. Even the SEC’s comment that it expects ICOs that are deemed to be securities to file an exemption has just been a minor bump in the road. Crypto coin crowdfunding rounds appear to be picking up steam. Not slowing down. Even Floyd “Money” Mayweather has suggested he should now be called Floyd “Crypto” Mayweather instead. There are so many new tokens popping up, it is hard to keep track. But Unikoin, an ICO that is scheduled to list in September, may be the next big token hit.
Unikrn was launched in late 2014 as a regulated and licensed sport bookmaker founded by Rahul Sood and Karl Flores. Sood launched Microsoft Ventures in 2013 so he has been around the block a time or two. Prior to joining with Sood, Flores founded Pinion, a Steam powered community that has an audience of 4 million gamers each month. Unikrn is a high-tech betting platform for esports (video game competitions) has some big name backers. Think Mark Cuban, Ashton Kutcher, Elizabeth Murdoch, 500 Startups … the list goes on. The gang is all here. So what is this Unikoin ICO all about. Cuban is quoted on the site about Unikrn;
“Hundreds of companies every year try to get me to invest, whether on Shark Tank or off camera. However, I only put my money and my name on the companies that I feel will be successful, truly advance an industry and have a leadership team that I respect. Unikrn fits all these requirements.”
Several years back the founders created a token called “Unikoin.” This token allowed users to bet on events where real money wagering was not yet licensed. Users could purchase these tokens and use them to bet on esports and, if they were successful, ladder up and win prizes. To date, Unikoin has seen a quarter billion in turnover of their Unikoin tokens. Now, the believe it is time to introduce a new digital coin: the cryptocurrency called UnikoinGold.
UnikoinGold will be a decentralized ERC20 token on the Ethereum blockchain. TheWhite Paper explains that its use within the platform will have certain limitations depending on whether users are located in jurisdictions in which Unikrn is licensed to offer a full suite of betting services or in jurisdictions where Unikrn will offer a more limited set of betting services, at least until Unikrn is fully licensed in that jurisdiction. Along with UnikoinGold, the platform will be issuing UnikoinSilver – a completely separate token.
In full service jurisdictions, the two tokens have different characteristics but UnikoinGold may be withdrawn from the platform while UnikoinSilver cannot. The company believes UnikoinGold is the “be all and end all token for the esports and gaming communities.” Citing one report that regulated sports book-style wagering on esports matches will generate $11.5 billion in handle by 2020 on the low end. It could be much higher. This is the market that UnikoinGold is going after. One would expect, UnikoinGold to possibly be a licensed product used by other wagering platforms.
Crowdfund Insider reached out to Sood for an update on Unikoin and when the ICO will be launched.
“About two years ago we created the Unikoin and its popularity surprised us,” said Sood. “Beyond just being fun to use, Unikoin has helped shape our business, discover new markets, optimize our betting products, and build a global community. Our community has been working with Unikrn to find new ways to add utility and value to the Unikoin, we believe the next best step is to turn it into an ERC20 token on the Ethereum network. We are going to cap the sale in order to maintain a stable ecosystem, and we’ll continue to work with our community to develop the Unikrn platform. Our go live data for our crowdsale is scheduled for the 3rd week of September, people interested should visit us at our Discord community to learn more: https://community.unikrn.com.”
Sood did not say at what point the offer will be capped but limited supply may lead to excess demand. They are still working on the last version of the white paper and nothing is final until that is done. They have a rock solid legal team with well established Fintech and gaming lawyers working to make certain everything is copacetic
If you are interested to learn more you can join Discord and jump into the discussion. Unikrn will be holding an AMA on YouTube this week on August 29th at 830AM PT / 530PM CET. Sood did say that his team has been hard at work getting through their regulatory review for UnikoinGold and UnikoinSilver. And no, it is not a security. Their go live date for their crowdsale is currently scheduled for the 3rd week of September.