Unikrn

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

Unikrn Inc.
Type of site
Private company
Founded2014
Headquarters
Seattle
,
United States
Area servedWorldwide
Founder(s)Rahul Sood, Karl Flores
IndustryOnline gambling
ServicesOnline Esports betting & gaming
URLunikrn.com

Overview

Founded in November 2014, Unikrn primarily offers real money [1] and token-based wagering on competitive video game tournaments, otherwise known as esports.[2] Unikrn creates betting markets on esports (organized video game competitions) matches akin to traditional betting.

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),[3] a professional Counter-Strike: Global Offensive team. Unikrn also has an investment in MAINGEAR,[4] a high-end PC manufacturer.

In the second quarter of 2017, Unikrn acquired LEET,[5] an esports startup based in Las Vegas, Nevada. Unikrn also owns an Indian-based esports company, DotaProHub.[6]

In November 2017, the company released UnikoinGold, an ERC-20 cryptocurrency, running on the Ethereum blockchain.[7][8][9]

In September 2020, the U.S. Securities and Exchange Commission ruled that Unikrn broke federal securities laws by raising $31 million via UnikoinGold in an unregistered 2019 initial coin offering of digital asset securities. Despite promising UniKoinGold as an investment opportunity for investors, it was not registered as a security. Unikrn settled without admitting or denying guilt by paying a $6.1 million penalty – substantially of all of its assets – to be paid via a Fair Fund to its investors. Unikrn also undertook to disable UnikoinGold. Unikrn also settled a concurrent investigation by the Washington State Department of Financial Institution over the state's own securities registration provisions involving Unikoin Gold.[10][11]

References
  1. "There's an easy way to bet on competitive video games". Engadget. Retrieved 17 July 2017.
  2. "Gambling Comes to E-Sports with Unikrn". The New York Times. Retrieved 11 May 2017.
  3. "eSports Betting Company Unikrn Invests In German CS:GO Team BIG". SportTechie. Retrieved 11 May 2017.
  4. "Maingear, Unikrn Bet on PC Gaming's Future". PCMag. Retrieved 11 May 2017.
  5. "Unikrn to acquire casino focused esports company LEET". Esports Insider. Retrieved 11 May 2017.
  6. "Esports betting hub Unikrn buys statistics company DotaProHub | GamesBeat". venturebeat.com. Retrieved 19 September 2017.
  7. Shieber, Jonathan. "ConsenSys Ventures has made its first four investments". TechCrunch. Retrieved 20 December 2017.
  8. Schroeder, Stan. "Mark Cuban-backed Unikrn to launch cryptocurrency for esports betting". Mashable. Retrieved 15 January 2018.
  9. Soper, Taylor (25 September 2017). "Mark Cuban, Ethereum co-founder among big investors in Unikrn's digital token sale". CNBC. Retrieved 15 January 2018.
  10. Fudge, James (15 September 2020). "SEC Fines Unikrn $6.1M Over Unregistered Initial Coin Offering". Esports Observer. Retrieved 15 September 2020.
  11. "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.
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