What is Unikrn?
Unikrn built the most technologically advanced sportsbook for esports. We run the best fully-regulated and licensed esports bookmaker on the planet.
Unikrn raised $10,000,000 in investment from Ashton Kutcher, Mark Cuban, Shari Redstone, Elisabeth Murdoch, and others. Our lead investor was an early investor in Snapchat, Twitter, and Instagram. They launched a separate finance business which is one of the largest movers of cryptocurrency in the world.
Less than two years ago, we created a token called “Unikoin”. With over a quarter of a billion Unikoins turned over we feel it’s time to introduce our cryptocurrency: UnikoinGold.
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Future of Esports
The growth in the global market for esports wagering has been explosive. With a CAGR of 141% from 2013 through 2016, regulated esports wagering has easily outpaced growth rates of all other regulated online gambling products - despite facing significant competition from illegal, unregulated skin gambling sites.
Esports are now a fixture at nearly all traditional online bookmakers, where annual esports handle is rivaling that of sports such as hockey, rugby, and golf. That's all the more impressive when you consider that traditional bookmakers: lack expertise in marketing to esports fans, are only offering limited markets on a small selection of matches, and are restricting typical betting limits well below those allowed for stick-and-ball sports.
Experts expect esports wagering to match pace with or exceed the broader growth in the esports industry. Research from Eilers & Krejcik Gaming projects that regulated sportsbook-style wagering on esports matches will, in a base case, generate $11.5 billion in handle by 2020, with a bull case scenario calling for $16.4 billion in handle.
The growing number of users and teams competing in games has led to an increased number of bets placed and a record amount of intranetwork currency transferred. Unikrn’s current economic system allows users to earn Unikoins through a variety of tasks as well as by wagering on competitions. These Unikoins can, in turn, be exchanged for a raffle ticket on on Unikrn’s internal market that pays out a reward to the winner of each raffle.
As wagers grow in volume and the magnitude of bets increase, users of the system have begun to desire additional forms of liquidation in order to give their risks more tangible value. The recent debut of ERC20 tokens on the Ethereum blockchain has paved the way for a new cryptoeconomic model that mutually benefits all parties involved in the transfer of the tokens. The paper that follows describes the aforementioned token and model in explicit detail.
We will describe a custom cryptocurrency coin called UnikoinGold that is designed as a decentralized ERC20 token on the Ethereum blockchain utilized for and allowing for the exchange and interchange of a virtual point-based reward system for the purpose of legal and licensed betting on esports matches, tournaments and other engagement around gaming. UnikoinGold will also be used as a rewards and incentive token for esports participants, players and teams.
The coin will be an entry to a new version of the existing Unikrn spectator betting system, and it will also become the exclusive token used on a new skill-based betting platform. UnikoinGold will power the most immersive live-betting platform for esports.
Our intention: the coin will serve as a decentralized proxy of value creating a decentralized, community-driven virtual economy. That economy will increase in turnover based on our new skill platform, live betting experience and global expansion of an exclusive token betting esports platform. Trades will be executed by a system of Ethereum smart contracts that are publicly accessible and that will be open and transparent to the network. View our latest whitepaper for more details.