Unikrn Attains $31 Million in its Token SaleOctober 24, 2017
A previous couple of days have been exceedingly busy for the US billionaire investor Mark Cuban. After delivering a statement that many have labeled as the potential entry point into the political arena and 2020 presidential elections, an eSports venture he supports managed to do really well in its ICO. The company that provided the same initial coin offering is Unikrn, an eSports betting service.
The ICO ended up being a huge success and there is little doubt that Cuban will continue to promote and develop the same platform. While it would a bit of a stretch to say that the online betting playing field is small, Unikrn still stands a chance to be something completely out of the ordinary. This is also something clearly many of its investors recognized during this ICO and for now, spells out a pretty bright future for this venture.
The Autumn ICO
Unikrn has been promoting its ICO, especially through the global reach of Cuban’s voice for several months. Now, its autumn ICO has arrived and the company was able to collect almost 113,000 ETH which were worth around $31.4 million. The token sale was split into two phases. The first one, which raised about 56,000 ETH was a presale that was directly backed by Cuban.
The follow-up sale brought the rest and elevated the sum raised by more than double ether coins. Unikrn’s chief executive, Rahul Sood, stated that the cryptocurrency backing came from 112 countries around the globe. He also said that the majority of the backers provided small purchases. This means that there were not any large buyers who could now hold sway over the rest of the minor investors.
This ICO has come on the coattails of the recent news that Unikrn has attained a gambling license in Malta. This is also very important for the company that is looking to apply its tech to the online sports betting ecosystem.
The Unikrn Idea
The main concept of the company was to create Unikoin Gold, a token that was then placed on the ICO. The same token will act as the medium of exchange between the platform and the bettors. This will allow all of its users to place their wages on a range of eSports games. These will include League of Legends, Counter-Strike, and Defense of the Ancients (DotA), but also many others which are already huge global hits in the eSports community.
The company created Unikoin Gold as a substitute for its previous digital currency, which was called Unikoins. This digital currency was used in conjunction with other fiat money alternatives, but now it has been replaced with a newer coin.
Sood also revealed that in the coming months the company will release more applications with the purpose of building up the Unikoin framework. These will, among others, include tools that will enable users to garner additional tokens. Interestingly, they will also include the ability not just to spend but also to earn tokens as well.
The New Gaming Concept
Over the past decade, the domain of online video gaming and online gambling has shifted drastically, but at the same time, they continued on a very similar path for both industries. Right now, practically more than ever before, the numbers are more important than ever.
This time, the numbers are related to players and cover every and any type out there. The modern dynamic ways of how information spreads means that having players who pay nothing but instead propagate the game is as valuable as those who actually pay to bet.
In the sea of offers, those online gambling resources which provide the most to the biggest number of players are those who win. The same is true for online eSports as well, where the highest quality game does not necessarily presume it will become the dominant eSport.
Instead, a huge number of elements will determine the successful games, but all of these dictate the only important factor: the number of players. The issue became so prominent that many online resources started looking for alternative ideas and means of success, including making the big president – playing players to play their game.
Like in regular free to play gaming, the gambling industry has started experimenting with the concept where they provide players with not only occasional bonuses, but also dedicated ones. For example, a company might decide to provide their players with a free roll on some type of a game every day or even every hour, but only in the case if their balance is empty.
This way, in theory, a person could play each hour and then apply some form of conservative betting strategy. The same approach would be able to allow the same person to produce an almost constant stream of revenue from the same casino without paying anything.
For old-fashion casino concept, this would be an almost blasphemous idea. But, in the current ecosystem, this is exactly what many are implementing right now in their own gambling business. The success is still being gauged, but it looks like the concept will not disappear, but only continue to improve.
No one still knows outside of Unikrn what the company will exactly do related to the possibility of generating users by allowing them to generate funds. Here, Unikrn has two huge advantages.
Firstly, it is based on eSports so users could be rewarded either through playing the games, betting on them or both. This way, the users would be nudged to partake in all of these activities, which is an instantly winning scenario for the company.
But potentially, a much bigger chance lies with the Unikrn blockchain and its hashing process. With it, the company could allow the users to run the hashing code on their hardware and become part of the P2P network, doing this for a payout in the new generated Unikoin Gold. This way, the chance for generating money passively would be much greater than the current affiliate promotional roles casinos are offering.
In any case, Unikrn appears to be a company that has caught the imagination of the public and has the backing of the developer community. This is why it could be one of the most successful ventures in the eSports gambling ecosystem.