eSports betting cryptocurrency UnikoinGold fetches $31M at crowdsale

eSports betting cryptocurrency UnikoinGold fetches $31M at crowdsale

Rahul Sood’s eSports betting platform Unikrn has raised $31 million in its initial coin offering, setting the standard for any eSports and gaming token sale to date.

eSports betting cryptocurrency UnikoinGold fetches $31M at crowdsaleThe Seattle-based company announced on its website that it has collected 112,720 ethers, worth an estimated $31.4 million in current trading price, in the token sale. The first phase of the ICO took place in September and netted the company $15 million from big name investors including Mark Cuban and distributed server processing system Ethereum co-founder Anthony Diiorio.

“This is the end of the crowdsale. It’s the beginning of the token,” Unikrn said in a blog post. “Most importantly, this is a rebirth for esports and gaming. UnikoinGold is already poised to disrupt entire industries to make experiences, products, games and events more accessible, more interactive and more decentralized than they’ve ever been.

The company is scheduled to lock down the delivery channels for UnikoinGold on Oct. 25, ahead of the scheduled delivery for the tokens, which will happen around Nov. 5. Didn’t make it in time for the crowdsale? Unikrn said customers can still trade in their skins for UnikoinGold.

UnikoinGold, a decentralized ERC20 token on the Ethereum blockchain, is the offshoot of the virtual coin Unikoin, which Unikrn launched in 2015. The original version of the virtual currency—now called UnikoinSilver—were available only on Unikrn’s platform, but UnikoinGold can be purchased or sold on third party exchanges, or even withdrawn from Unikrn altogether.

The eSports betting company had planned to sell $100 million worth of its cryptocurrency tokens, with the proceeds slated to “help fund the growth of business.”

The ICO completion announcement comes on the heels of news that Unikrn has gained a Maltese gambling license, opening the door to 80% of the European gambling market for the U.S.-based startup. Unikrn has already begun working on its European expansion plans, and we expect to see the fruits of their labor in early 2018.