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Unikrn

Unikrn

Unikrn is a Seattle-based eSports betting site. The company was acquired by Entain in 2021.

Overview

Unikrn is a developer of an online eSports betting platform designed to offer an opportunity to bet on the outcomes of eSports matches and tournaments. The company's platform offers different games, competitions and league matches. This includes popular games such as League of Legends, Counter-Strike: Global Offensive, and DOTA 2. Unikrn offers wagering with fiat currencies and token-based wagering in order to open eSports wagering to new audiences.

Founded in 2014 by Rahul Sood and Karl Flores, Unikrn has invested in Berlin International Gaming (BIG), a professional Counter-Strike: Global Offensive team, and in MAINGEAR, a gaming PC manufacturer.

UnikoinGold

In November 2017, Unirkn released an ERC-20 cryptocurrency that ran on the Ethereum blockchain. The token was called UnikoinGold. The launch of the digital coin raised $31 million for its initial offering, but Unikrn later settled with the SEC in 2020 after the SEC alleged Unikrn raised money on sales of the unregistered digital asset previously. Unikrn volunteered to settle with the SEC without determination of guilt. As per the settlement agreement, Unikrn paid a $6.1 million penalty, paid through a Fair Fund to token holders, and Unikrn disabled UnikoinGold.

Acquisition

In August 2021, Unikrn was acquired by United Kingdom-based online gambling company Entain. Entain, previously known as GVC, already owns Ladbrokes and other well-known gaming brands, and operates in twenty-seven regulated gaming markets. Unikrn, as part of the acquisition, advised their customers to withdraw any funds with Unikrn before September 12, 2021. In the same statement, Unikrn told their customers the company would return in 2022. This is following restructuring and an expansion of services in line with Entain's business model. Until this time, Unikrn ceased operations.

Timeline

August 12, 2021
Entain announces that it has agreed to acquire Unikrn.
March 11, 2021
Unikrn forms blockchain partnership with FYX Gaming.
November 26, 2020
Unikrn partners with Nuvei for a payment processing partnership and to increase Unikrn's portfolio of available payment providers.
September 15, 2020
The Securities and Exchange Commission announces a settlement with eSports cryptocurrency firm Unikrn over what the SEC deemed a violation of securities laws.
July 13, 2020
Microgaming to add Unikrn's eSports to aggregation platform
September 19, 2019
Unicorns of Love announces partnership with Unikrn
December 21, 2018
Unikrn launches UMode skill-based game betting platform in forty-one states.
October 23, 2018
Unikrn receives its gambling license for crypto-based betting on eSports and games.
April 16, 2018
Unikrn to create "first crypto gaming platform" with acquisition of ChallengeMe.
October 23, 2017
Unikrn raises a $31,400,000 initial Coin Offering from Blockchain Capital, Brock Pierce, Coincircle, Draper Associates, Mark Cuban and Pantera Capital.
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Funding rounds

People

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Further reading

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Online gambling giant Entain to acquire Seattle esports betting startup Unikrn

Taylor Soper

Web

August 12, 2021

SEC punishes Unikrn as it cracks down on cryptocurrencies

Dean Takahashi

Web

September 15, 2020

Documentaries, videos and podcasts

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Companies

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References

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