Unikrn

Unikrn Inc.

Type of site	Corporation
Founded	2014
Headquarters	Miami , United States
Area served	Worldwide
Founder(s)	Rahul Sood, Karl Flores
Industry	Online gambling
Services	Online Esports betting & gaming
URL	unikrn.com

Unikrn Inc. (styled as "Unikrn") is an esports betting and entertainment media company based in Miami, Florida.

In August 2021, international betting, gaming and interactive entertainment company Entain acquired Unikrn. ^{[1] [2]}

Overview

Founded in November 2014, Unikrn primarily offers real money ^{[3] [4]} and token-based wagering on competitive video game tournaments, otherwise known as esports. ^[5] Unikrn creates betting markets on esports (organized video game competitions) matches akin to traditional betting. ^[6]

History

The company was founded by Rahul Sood and Karl Flores in November 2014.

In 2016, Unikrn became an investor in BIG (Berlin International Gaming), ^[7] a professional Counter-Strike: Global Offensive team. Unikrn also has an investment in MAINGEAR, ^[8] a high-end PC manufacturer.

In the second quarter of 2017, Unikrn acquired LEET, ^[9] an esports startup based in Las Vegas, Nevada. Unikrn also owns an Indian-based esports company, DotaProHub. ^[10]

In November 2017, the company released UnikoinGold, an ERC-20 cryptocurrency, running on the Ethereum blockchain. ^{[11] [12] [13]}

In September 2020, Unikrn agreed to a settlement with the U.S. Securities and Exchange Commission after raising $31 million via a digital asset called UnikoinGold in an unregistered 2019 token sale of digital. ^[14] Unikrn volunteered to settle without a determination of guilt by paying a $6.1 million penalty to be paid via a Fair Fund to its token holders. Unikrn also undertook to disable UnikoinGold ^[15] Unikrn settled despite lack of consensus within the SEC that Unikoingold constituted a security, with Commissioner Hester M. Peirce saying, "I do not concur in my colleagues’ opinion that Unikrn’s token offering constituted a securities offering[...] By failing to challenge ourselves to experiment with new approaches to regulation, we, and those whose interests we are pledged to serve, risk surrendering the fruits of innovation. I respectfully dissent from the Commission’s actions today relating to Unikrn." ^[16] She further clarified, "[Unikrn] is not alleged to have engaged in any fraud."

In 2021, Unikrn partnered with FYX Gaming to work jointly on development of an updated monetization structure.

References

1. "Online gambling company Entain buys esports betting startup Unikrn as it looks to triple its business". CNBC. 12 August 2021. Retrieved 3 September 2021.
2. "Gambling giant Entain puts £50m bet on esports". The Times. 13 August 2021. Retrieved 3 September 2021.
3. "Main information about the activities and objectives". goldsbett.in. 10 June 2024. Retrieved 11 December 2024.
4. "There's an easy way to bet on competitive video games". Engadget. Retrieved 17 July 2017.
5. "Gambling Comes to E-Sports with Unikrn". The New York Times. Retrieved 11 May 2017.
6. Markets, Research and (9 October 2024). "United States Online Gambling Industry Research 2023-2029: Cryptocurrency Gains Momentum, Rising Popularity of Esports, Operators Capitalize on Mobile-First Platforms". GlobeNewswire News Room. Retrieved 11 December 2024.
7. "eSports Betting Company Unikrn Invests In German CS:GO Team BIG". SportTechie. Retrieved 11 May 2017.
8. "Maingear, Unikrn Bet on PC Gaming's Future". PCMag. Retrieved 11 May 2017.
9. "Unikrn to acquire casino focused esports company LEET". Esports Insider. Retrieved 11 May 2017.
10. "Esports betting hub Unikrn buys statistics company DotaProHub | GamesBeat". venturebeat.com. Retrieved 19 September 2017.
11. Shieber, Jonathan. "ConsenSys Ventures has made its first four investments". TechCrunch. Retrieved 20 December 2017.
12. Schroeder, Stan. "Mark Cuban-backed Unikrn to launch cryptocurrency for esports betting". Mashable. Retrieved 15 January 2018.
13. Soper, Taylor (25 September 2017). "Mark Cuban, Ethereum co-founder among big investors in Unikrn's digital token sale". CNBC. Retrieved 15 January 2018.
14. "In the Matter of Unikrn, Inc". U.S. Securities and Exchange Commission. 15 September 2020.
15. "Unregistered ICO Issuer Agrees to Disable Tokens and Pay Penalty for Distribution to Harmed Investors". SEC.gov. U.S. Securities and Exchange Commission. 15 September 2020. Retrieved 15 September 2020.
16. "Statement on SEC Settlement Charging Token Issuer with Violation of Registration Provisions of the Securities Act of 1933". U.S. Securities and Exchange Commission.