Analysis of UnikoinGold – Decentralized eSports Betting Token - Crush Crypto

Analysis of UnikoinGold – Decentralized eSports Betting Token

Summary

  • Project name: UnikoinGold
  • Token symbol: UKG
  • Website: https://unikoingold.com/
  • Whitepaper: https://unikoingold.com/whitepaper
  • Hard cap: US$100 million (ICO contributors own 20% of total token supply if hard cap is reached)
  • Conversion rate: Total supply of 1 billion tokens
  • Maximum market cap at ICO on a fully diluted basis: US$500 million if hard cap is reached
  • Bonus structure: None
  • Presale or white list: Pre-sale is over
  • ERC20 token: Yes
  • Crowdsale date: September 22, 2017 for presale and September 23, 2017 for public crowdsale (please refer to UnikoinGold’s website for the most up-to-date information)
  • Token distribution date: Not specified
Video summary (video is 10:08 long):

Project Overview

What does the company/project do?

Unikrn is a gaming and eSports company based in Seattle that was established in November 2014. It is a fully-regulated and licensed eSports bookmaker with a wagering platform for eSports.

Unikrn created a token called “Unikoin” which gave users an opportunity to bet on eSports, ladder up and win prizes in markets where Unikrn was not yet licensed to conduct real-money wagering. Below are the products and services that Unikrn provides.

Gambling: 

- Includes skill-based and spectator-based wagering.

Raffles:

- Users can acquire jackpot tickets to win prizes (e.g. in-game items like skins, gaming hardware and accessories). Unikrn will also develop exclusive raffle rooms (“exclusive rooms”) where only users who purchase golden entry tickets using UKG will have access.

Premium features: 

- Users can earn UKG tokens by playing and winning video games on community servers. 

- User wallets will allow premium members to transact faster without additional fees.

- Users can tip eSports professionals using UKG.

It should be noted that Unikrn will still continue their fiat betting operations after the introduction of UKG tokens in jurisdictions where this is legal.

Interview of Rahul Sood, CEO of Unikrn (video is 1:23:33 long):

How advanced is the project?

Unikrn was started in November 2014. In 2015, the company raised $10 million from investors including Ashton Kutcher, Guy O’Seary, Mark Cuban, Shari Redstone, Elisabeth Murdoch, 500 Startups, Tabcorp (Australia’s largest betting company), Indicator Ventures and Hyperspeed Ventures.

Following the introduction of UKG token, Unikrn will begin expanding beyond Australia and UK, such as the US and other markets in the world where skill-based betting is legal. Unikrn also plans to allow third party betting operators to license its platform and utilize UKG tokens.

Unikrn has a large presence in the eSports community and has a working platform. It engages in numerous eSports-related activities including creating content for the community, running tournaments, and owning a significant stake in one of the best CS:GO teams in the world, BIG

It operates Leet, which has a series of contracts with casinos around North America to setup eSports experiences on their properties. Unikrn also owns a stake in Maingear Computers, a company that will eventually play a role on premise in casinos.

In an interview, the CEO of Unikrn stated that Unikrn has over 4 million monthly active users and around 90,000 users who have placed bets on the platform.

Future roadmap of the project is detailed below.

By November 2017

  • Players bet UnikoinGold on themselves in competitive matches.
  • Use UnikoinGold to enter high-value jackpot and skin jackpot rooms.
  • Earn UnikoinSilver for connecting game accounts.
  • Earn UnikoinSilver by competing against other players.
  • Use and earn UnikoinSilver in live betting, pre-betting, raffles, and skin jackpots.

By January 2018

  • Access to UnikoinGold premium content that includes insights, statistics, and Scorecentre IO with widgets.
  • White label third party betting products.
  • Betting bonuses, access to live and pre-match sportsbook wagering, and the ability to enter premium subscriber jackpot and skin jackpot rooms.

After January 2018

  • Full gamification of the crypto platform with leaderboards and an ELO ranking system.
  • Other anticipated offerings: bingo, casino games, cards, donations, and tournaments.

What are the tokens used for and how can token holders make money?

Below are the main utilities that Unikrn is working to make available to UKG token holders:

  • Placing bets for professional eSports matches on Unikrn’s sportsbook.
  • Ability to play for UKG in competitive skill-based video game matches.
  • Tournament hosting.
  • Rewards for hosting skill-based gaming servers using Unikrn’s API.
  • Wagering on spectator engagement applications.

As UKG tokens are used to perform various actions on the platform, the more usage the Unikrn platform has, the more valuable UKG tokens should be.

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Team

Unikrn currently has a core management team of 8 people. The co-founders are both serial entrepreneurs with extensive experience in the video and PC gaming industry.

Rahul Sood, Co-Founder and CEO – Serial entrepreneur. Rahul worked at Microsoft for 6 years where he launched Microsoft Ventures in 2013. Prior to joining Microsoft, he founded Voodoo, a gaming computer manufacturer, which was later acquired by HP. He has been an advisor to the Board of Directors for the gaming company Razer since 2013.

Karl Flores, Co-Founder and CPO/CMO – Serial entrepreneur. Karl was previously the CEO and co-founder of Pinion, a game community platform which was later acquired by Unikrn in 2014. He also has prior experience in multiple roles in operations and management.

Daniel Rudolph, CTO – Created PlayAll, a skill betting platform for video games. David has over 25 years of IT experience and has prior experience in a CTO role for multiple companies in Germany and France.

Unikrn’s advisory team includes Erick Miller, CEO of CoinCircle, a new token sale platform, and Shane Fontaine, Lead Crypto Engineer at CoinCircle. CoinCircle is a new token sale platform and will be helping to set up the initial token sale for UnikoinGold.


Opportunities

  • Very solid team with the co-founders having deep expertise in the gaming industry.
  • Unikrn has already gone through the due diligence process of a number of investors and received their backing. Investors who invested in Unikrn in its Series A include: Advancit Capital (Shari Redstone), Binary Capital, Mark Cuban Companies (Mark Cuban), Freeland Ventures (Elisabeth Murdoch), Sound Ventures (Ashton Kutcher, Guy O’Seary), 500 Startups, Tabcorp Inc. and Hyberspeed Ventures (Erick Miller).
  • Unlike most of the other eSports betting platforms, Unikrn’s betting platform is tightly integrated with the gaming experience. For example, you don’t need to go to a separate site to wager your bets. Betting and other interactions with the game all happen on the same place.
  • Because of the above, Unikrn probably caters more to casual gamers / spectators. Not only can users win UKG tokens, they can also win in-game items such as skins, gaming gear, etc., increasing the use cases for UKG tokens.
  • The eSports industry is growing rapidly and eSports wagering should follow suit. Unikrn stands to benefit from this trend. According to research from Eilers & Krejcik, gaming projects that regulated sportsbook-style wagering on eSports matches will reach $20 billion by 2020.
  • Unikrn’s target users (mostly young male) should be receptive to cryptocurrency and keen to try out UKG tokens. 
  • There are not many direct competitors to Unikrn in the blockchain space. Gimli is the only project that also focuses on eSports betting, but Unikrn is at a much more advanced stage.

Concerns

  • ICO participants represent 20% of total supply of tokens, meaning that the market cap on a fully diluted basis is $500 million if hard cap is reached. That is a very high valuation for an ICO project.
  • Because of the growth in eSports, Unikrn faces stiff competition from both traditional online betting companies and startups focusing on eSports. We have looked at numerous pages suggesting the best sites for eSports betting (source 1, source 2, source 3, source 4, and source 5, and Unikrn does not show up on any of the rankings.
  • Unikrn is probably going to have a hard time getting other third party betting operators to adopt UKG tokens.
  • Regulations would hinder the speed of Unikrn expanding from country to country.
  • Unikrn will be releasing tokens that are in reserve in order to stabilize token price, which may limit the upside of the tokens.

Conclusion

Overall, we are neutral about this ICO for its flipping potential but like its long-term potential. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping

Neutral. The project is very hyped up – this is the first ICO that Mark Cuban is involved in. However, hard cap of $100 million is very high.

The amount of contribution depends heavily on the market environment, which is pretty unpredictable now that the Metropolis upgrade for Ethereum is coming soon.

For long-term holding

Good. Unikrn has a large presence in the eSports scene and is the prime candidate to benefit from the rapidly growing eSports industry. We believe the introduction of UKG tokens would attract crypto investors to try out the platform as they fit the target demography of Unikrn (mostly young male).

If Unikrn becomes successful, it has the potential to become the go-to place for eSports betting and spectating, which is a huge industry in the long-term.


For more information about the ICO, please visit the following links:

Website: https://unikoingold.com/ 

Whitepaper: https://unikoingold.com/whitepaper 

Blog: https://news.unikrn.com/ 

Youtube: https://www.youtube.com/channel/UCUp4DPlEGf49uRmRAxacBDQ 

Podcast interview with Rahul Sood: http://technotopia.libsyn.com/episode-68-rahul-sood

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