“We chose to turn Unikoins into an esports cryptocurrency so we could expand our business more efficiently. With UnikoinGold and UnikoinSilver we won’t have to deal with multiple banks and currencies across multiple countries,” said a Unikrn spokesperson.
UnikoinGold, just like UnikoinSilver, will be available to everyone, but it will work differently in so-called “full service jurisdictions,” and “limited jurisdictions.” The most important distinction between the two is that users in the former can actually bet, while users in the latter can only enter raffle contests, regardless of the coin they use.
“At launch all jurisdictions would be limited. Within 90 days we will open up some full service jurisdictions across Europe,” said a Unikrn spokesperson.
All trading will happen, Unikrn claims, on the UnikoinGold blockchain (using Ethereum smart contracts), which should make it fully transparent to the public.
As for the value of UnikoinGold, it will be decided on by the open market, which might make the entire process of gambling a bit more exciting.
Unikrn plans to sell $100 million worth of UnikoinGold — a big number but one that pales in comparison with some recent ICOs. The presale registration period is already over but the public token sale will launch on Sept. 22, 2017.
Unikrn allows you to bet on esports events, such as League of Legends matches.
The Seattle-based Unikrn is backed by some high profile investors, including Mark Cuban, Ashton Kutcher and 500 Startups. Interestingly enough, Mark Cuban called Bitcoin a bubble in June, but later said that participating in an ICO is a “high risk, high reward” type of endeavor.
This is not the first betting-related ICO, though. A company called DAO.Casino launched a blockchain-based protocol for gambling which other companies can use to create blockchain-based online casinos. It raised nearly $18 million in ether (in today’s prices) in a token sale that ended on July 21.
Check out the UnikoinGold whitepaper here.