UnikoinGold – How Does Mark Cuban’s First ICO Measure Up?

ICO

UnikoinGold ICO Summary

If Floyd or Paris aren’t enough confirmation that ICOs have reached the mainstream, then Mark Cuban’s support of UnikoinGold may be. The Esports betting website has been garnering a lot of press recently and are seeking to raise $100 million in the ICO.

I signed up for the site today and made a few bets, it’s easy enough. I know little about Esports gaming, so it’s difficult for me to judge the bets I’m making or how highly ranked the teams are. The site does has a flashy front end, it looks good, runs smoothly and quickly and is easy to navigate. This isn’t the first Esports betting site that I have seen recently. The platform even looks similar to another site I signed up for.

Unikrn

What UniKoin does have going for it is that it has been operating for three years and reportedly has a proven revenue model. The ICO is just a way for them to expand their offerings globally and raise a boat load of capital to develop the site. Most other ICO’s are raising funds to build a new product, Unikoin already has their product and simply wants to grow.

UnikoinGold also plans to be more than just a simple platform: “We create content for the community, run tournaments, we own a significant stake in one of the best CS:GO teams in the world. We operate Leet which has a series of contracts with casinos around North America to setup Esports experiences on their properties. We even own a stake in Maingear Computers, a company that will eventually play a role on premise in casinos. We all share a growing community of users, we co-market and collaborate on our growth.”

UnikoinGold’s ICO will create a new token to provide real money gambling/betting options. Once launched there will be three types of services offered: gambling, raffles, exclusive rooms and tipping. Currently, Unikrn, their parent site uses Unikoin, which after the ICO, will be converted into UnikoinSilver. UnikoinGold will become the official pay token for real money gambling.

Gambling will only be allowed for UnikoinGold holders, in “full service jurisdictions” and will be divided into skill and spectator based gambling. The former allows for players to bet on themselves, and receive a reward if they are successful in game. Unikoin believes that they will be able to integrate into several larger games in the next year after they ICO. Additionally, users will be able to bet on spectator Esports.

When I signed up for the platform today I placed a bet on SK gaming at 1:1.3 odds. It’s interesting to see how others are betting. I think one thing that could be added to the platform is an interactive chatroom to let people watch and discuss the games they are betting on.

The integrated betting platform based on player skill for existing games is a good idea. I have a friend who is a pro-gamer and he depends on mostly on sponsorships to earn his living. With an in-game real betting platform, he could possibly “bet” his way to glory and profitability.  It takes a lot of funds to travel around Europe or the US to take part in competitions and Unikoin could allow him to fund his profession through his play.

It’s also in the works for Unikoin to develop a tournament platform, where many people can compete for the top spot and entry funds would be distributed amongst the winners accordingly to results. I’ll get into the team in a bit, however, co-founder and CEO Rahul Sood, along with Cuban does seem to have deep Esports connections. If UnikoinGold become the official prize money for the largest Esports tournaments, it could really push their adoption higher.

Furthermore, the It would also be very cool to be able to challenge your friends to real money games of FIFA or Starcraft to determine who is the best amongst you. I’d probably lose everything I had in a day or two.

For the raffles, users will be able to enter using both UnikoinGold and UnikoinSilver. Raffle prizes range from in-game items to gaming hardware and accessories. There will also be exclusive rooms where you need to buy a golden ticket for a chance for higher prizes; such a token can only be purchased with UGold

UKG in Full vs Limited Jurisdictions

Online betting is a highly regulated industry and is banned or limited in some countries. As such UnikoinGold and UnikoinSilver will have limited use in certain jurisdictions.

There’s a substantial difference between the both types of jurisdiction.

In full service jurisdictions, UGold will pay for all the services mentioned above, provides the opportunity to purchase raffle tickets at the best possible rate (as compared to USilver), earns USilver when UnikoinGold is used to place bets, can be withdrawn freely to exchanges to be bought and sold; Unikrn will not engage in the buying or selling of UnikoinGold.

USilver cannot be purchased or sold in any way, may be earned by connecting a third-party Esports account (such as Riot) to the Platform and winning Esports games through that account, earned by placing bets with UnikoinGold or with fiat on a separate fiat-only platform (they can be transferred from the fiat-only platform to the other platform though!), can be used for purchasing raffle tickets and can be sent to others, though it cannot be redeemed and may be given as a bonus for someone who sets up a wallet

In limited jurisdictions UnikoinGold can be traded on exchanges, used to purchase raffle tickets, access exclusive rooms that do not facilitate gambling and purchase raffle tickets at best possible rate. The difference is that no gambling and no tipping are allowed.

UnikoinSilver is similar, but can obviously only be earned through non-gambling applications.

Team

Rahul Sood, Co-Founder and CEO, was the founder of VoodooPC (est. 1991) Then he became the outgoing Chief Technology Officer (CTO) for the Hewlett Packard Global Voodoo Business Unit. In 2010, he joined Microsoft as the GM for System Experience in the Interactive Entertainment Business. He created the first incubation fund for startups at Microsoft, called Bing fund and this eventually became Microsoft Ventures which was launched 2013

Rahul has a deep background in video gaming and entertainment. He sits on the board of advisors for Razer, one of the largest gaming companies in the world.He was an early Investor and active advisor in Vrvana, a leading Mixed Reality hardware company and was also an active investor in Maingear PC (in which Unikrn has a large stake)

Rahuls Social Presence

Social network Promotes projects there # of connections
Linkedin Yes 500+
Twitter Yes 36900
Facebook Yes 2163

 

Karl Flores, Co-Founder and CMO, was Group Operations Manager at TWG Management (2004-2006) where he “lead and managed 400+ employees in retail businesses.” He was also the Co-Founder of IWS Australia, a Software with a Service, web based Rostering, Time Capture & Payroll solution. Karl was the CEO and Co-Founder of Pinion, a Steam Powered game community platform that reaches over 4 million gamers monthly with unprecedented access to the much sought-after gamer demographic of males aged 18-35.

Spencer Yang, Head of Asia, was the CEO and Co-Founder of KeyReply, an AI chatbot platform for enterprises and governments in Asia. Spencer headed optimisations of advertising campaigns for Twitter in the APAC region, where he worked with major game titles in their strategic ad buys. (2014-2015)

Daniel Rudolph, CTO, created the first-ever skill betting platform for video games, PlayAll.

Kingsley Edwards, VP Business Development, created Leet (also acquired by Unikrn), an online skill-based platform, in 2013 with the vision of integrating cryptocurrencies with popular video games. Kingsley is also the Co-Owner of Rogue Sports, a professional Esports team.

Chris Grove, Board of Advisors, is a gambling industry strategist who oversees trade publications covering the U.S. markets for regulated online gambling and sports betting. Grove’s research and expertise has been sought and cited by lawmakers, gaming regulators and major media outlets such as the New York Times, the Washington Post, ESPN and the Wall Street Journal. He also publishes a blog, called Legal Sports Report

Erick Miller, CEO of CoinCircle and Shane Fontaine, Lead Crypto Engineer, Coin Circle / Advisory Team have powered token sales for established companies, moving industry-leading products onto the blockchain. Erick and his team will work with Unikrn to design and create the cryptocurrency and build inroads with the community. Unikrn is also working with Erick Miller’s CoinCircle to help develop the token, smart contracts, and help with marketing and PR regarding the token sale itself.

Unikoin’s Social Media Reach

Discord users 200+ users online at a time. Don’t know where to see the total amount
Facebook likes 4007
Twitch followers 13433
Youtube subscribers 793
Twitter followers 16500
CEOs Medium followers 3500

 

Token sale

Important dates

Whitelisting process starts There will be a whitelist, no details given yet though
Whitelisting process ends
Pre-sale registration starts July 15th, 2017
Pre-sale registration ends August 15th, 2017
Pre-sale starts September 8th, 2017
Pre-sale ends September 18th, 2017
Token sale starts Will be announced “soon”
Token sale ends

Cap

Minimum cap TBD
Maximum cap $100m

Token distribution

Number of tokens % of total supply
Sold in private deals Supposedly none
Sold during pre-sale See below (red)
Sold during token sale* 200.000.000 20
Team** 100.000.000 10 (vested)
Unikrn betting Reserve 150.000.000 15
Marketing and Partnerships*** 150.000.000 15
Development and Contractors 200.000.000 20
Company Cold Storage 200.000.000 20 (vested)
Available token supply 700.000.000 70% or less (see below, green)
Total token supply 1.000.000.000 (1B) 100%

*The 20% for “sold during token sale” includes the pre-sale amount. As an answer to how much of those 20% was sold during the pre-sale the CEO said “Not sure yet, maybe ¼”

**There will be a lockup period for the company reserve, early token sale, and team pool, however this time period is yet unknown.

***Exact lockup period has not been disclosed yet, “but early investors in our SAFE note have a lockup period.  Everyone else in the sale do not.” As for early investors such as Cuban or Kutcher, it’s not exactly clear to which category they belong, so hard to predict the total circulating supply.

Conclusion

While I was a bit skeptical when I first started writing this, the more I looked into UnikoinGold, the more that I saw that they have a good team lined up behind then and some great advisory. Cuban may not be the most experienced blockchain guy, but he does know how to grow a company and his presence will hopefully allow Unikrn to achieve a large adoption rate in the future. I would think there will be great demand eventually for their token, especially during the crowdsale. The only downside is that they are raising 100mil, and the best to expect in returns might only be 2-3x maximum. Depending on how much more hype builds for UnikoinGold, I’ll probably stay out, but if their numbers start to increase a lot I’ll think about going in for small number of coins.

 

LINKS

Website https://unikoingold.com
Whitepaper https://unikoingold.com/whitepaper
Slack invite N/A
Discord https://discordapp.com/invite/NXkejuN
Twitter https://twitter.com/unikrnco
Facebook https://www.facebook.com/unikrnco
Blog https://news.unikrn.com/
Youtube https://www.youtube.com/channel/UCUp4DPlEGf49uRmRAxacBDQ
CEOs Medium https://medium.com/@rahulsood

 

No Comments

Leave a Reply

Your email address will not be published.

ICO
Quick Review of ICO’s for July 14th

Auctus – Check out the Auctus review I wrote before. I thought that they had little to no pension experience and that they were simply data scientists. Check out the review. Dmarket – I don’t know why they had two separate ICOs. The first one did ok. I’m not so …

ICO
July 13th ICO Quick Review

TopiaCoin Presale Starts – Secure Decentralized File Sharing “Topia will combine its patented security for shredding and encrypting data with the power of blockchain, to deliver the most robust and Secure Decentralized File Sharing infrastructure (SDFS). With SDFS, individuals and businesses will be able to easily and securely share any …

ICO
BitDegree – An Incentivized Solidity Developer Training Ground

I’ve taken quite a few free courses online from what are known as MOOCs (Massively Open Online Courses) from a variety of sources. I slogged through CodeAcademy and TreeHouse’s course material for a while to teach myself enough coding not to look stupid. I signed up and missed all my …