Unikrn: Difference between revisions - Wikipedia

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{{Short description|American esports and media company}}

{{EngvarB|date=December 2017}}

{{Use dmy dates|date=December 2017}}

{{Infobox dot-com company

|name=Unikrn Inc.

|logo=[[File: Unikrn logoVERTICAL_LOCKUP_(BLACK).png|250px]]

|type=Private companyCorporation

|genre=

|fate=

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|founder=[[Rahul Sood]], [[Karl Flores]]

|defunct=

|location_city=[[SeattleMiami]]

|location_country=United States

|locations=

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|alexa=}}

'''Unikrn Inc.''' (styled as "'''Unikrn'''") is an esports betting and entertainment media company based in Seattle[[Miami]], WAFlorida.<ref>{{Cite news|url=http://www.businessinsider.com/ex-microsoft-exec-choose-google-apps-2014-12|title=Why An Ex-Microsoft Exec Chose Google Apps Over Microsoft's Office 365 For His Startup|work=Business Insider|access-date=2017-07-17|language=en}}</ref>

In August 2021, international betting, gaming and interactive entertainment company [[Entain]] acquired Unikrn.<ref>{{Cite web|date=12 August 2021|title=Online gambling company Entain buys esports betting startup Unikrn as it looks to triple its business|url=https://www.cnbc.com/2021/08/12/ladbrokes-owner-entain-buys-esports-betting-startup-unikrn.html|access-date=3 September 2021|website=CNBC}}</ref><ref>{{Cite web|date=13 August 2021|title=Gambling giant Entain puts £50m bet on esports|url=https://www.thetimes.co.uk/article/gambling-giant-entain-puts-50m-bet-on-esports-dgtg6x6l3|access-date=3 September 2021|website=The Times}}</ref>

== Overview ==

Founded in November 2014, Unikrn primarily offers real money <ref name=":0">{{Cite web|url=https://www.engadget.com/2015/04/28/unikrn-esports-betting/|title=There's an easy way to bet on competitive video games|website=Engadget|access-date=2017-07-17}}</ref> and token-based wagering on competitive video game tournaments, otherwise known as [[esports]].<ref>{{Cite web|url=https://bits.blogs.nytimes.com/2015/04/28/gambling-comes-to-esports-with-unikrn/?_r=2|title=Gambling Comes to E-Sports with Unikrn|work=|publisher=The New York Times|accessdateaccess-date=11 May 2017}}</ref> Unikrn creates betting markets on [[esports]] (organized video game competitions) matches akin to traditional betting.

== Origins and DevelopmentHistory ==

The company was founded by [[Rahul Sood]] and Karl Flores in November 2014.

The company was founded by [[Rahul Sood]] and Karl Flores in November 2014, after Sood finished his role as General Manager at Microsoft Ventures.<ref>{{Cite news|url=https://techcrunch.com/2014/11/03/voodoopc-and-microsoft-ventures-general-manager-rahul-sood-is-leaving-microsoft-to-start-another-company/|title=VoodooPC Founder And Microsoft Ventures General Manager Rahul Sood Is Leaving Microsoft To Start Another Company|last=Burns|first=Matt|work=TechCrunch|access-date=2017-09-19|language=en}}</ref>

In 2016, Unikrn became an investor in BIG (Berlin International Gaming),<ref>{{cite web|url=https://www.sporttechie.com/esports-betting-company-unikrn-invests-in-german-csgo-team-big/|title=eSports Betting Company Unikrn Invests In German CS:GO Team BIG|work=|publisher=SportTechie|accessdateaccess-date=11 May 2017}}</ref> a professional Counter-Strike: Global Offensive team. It has also fielded an all-female CS:GO team, Team Unikrn.<ref>{{Cite news|url=http://www.seattletimes.com/business/technology/unikrn-fields-all-woman-team-to-compete-in-e-sport-matches/|title=Unikrn fields all-woman team to compete in e-sport matches|date=2015-11-19|work=The Seattle Times|access-date=2017-07-17|language=en-US}}</ref> Unikrn also has an investment in [[MAINGEAR]],<ref>{{cite web|url=https://www.pcmag.com/news/349612/maingear-unikrn-bet-on-pc-gamings-future/|title=Maingear, Unikrn Bet on PC Gaming's Future|work=|publisher=PCMag|accessdateaccess-date=11 May 2017}}</ref> a high-end PC manufacturer.

In the second quarter of 2017, Unikrn acquired LEET,<ref>{{cite web|url=http://www.esportsinsider.com/2017/04/unikrn-acquire-casino-focused-esports-company-leet/|title=Unikrn to acquire casino focused esports company LEET|work=|publisher=Esports Insider|accessdateaccess-date=11 May 2017}}</ref> an esports startup based in Las Vegas, Nevada. Unikrn also owns an Indian-based esports company, DotaProHub.<ref>{{Cite web|url=https://venturebeat.com/2015/09/22/esports-betting-hub-unikrn-buys-statistics-company-dotaprohub/|title=Esports betting hub Unikrn buys statistics company DotaProHub {{!}} GamesBeat|website=venturebeat.com|language=en-US|access-date=2017-09-19}}</ref>

In November 2017, the company released UnikoinGold, an [[ERC-20]] [[cryptocurrency]], running on the [[Ethereum]] blockchain.<ref>{{Cite news|url=https://techcrunch.com/2017/12/04/consensys-ventures-has-made-its-first-four-investments/|title=ConsenSys Ventures has made its first four investments|last=Shieber|first=Jonathan|work=TechCrunch|access-date=2017-12-20|language=en}}</ref><ref>{{Cite news|url=http://mashable.com/2017/08/17/unikoingold/#47zQpE9lHqq3|title=Mark Cuban-backed Unikrn to launch cryptocurrency for esports betting|last=Schroeder|first=Stan|work=Mashable|access-date=2018-01-15|language=en}}</ref><ref>{{Cite news|url=https://www.cnbc.com/2017/09/25/ethereum-co-founder-and-mark-cuban-put-25m-toward-unikrn-esports-betting-platforms-digital-token-sale.html|title=Mark Cuban, Ethereum co-founder among big investors in Unikrn's digital token sale|last=Soper|first=Taylor|date=2017-09-25|work=CNBC|access-date=2018-01-15}}</ref>

In September 2020, Unikrn agreed to a settlement with the [[U.S. Securities and Exchange Commission]] after raising $31 million via a digital asset called UnikoinGold in an unregistered 2019 [[token sale]] of digital.<ref>{{Cite web|date=September 15, 2020|title=In the Matter of Unikrn, Inc|url=https://www.sec.gov/divisions/enforce/claims/unikrn.htm|publisher=[[U.S. Securities and Exchange Commission]]}}</ref> Unikrn volunteered to settle without a determination of guilt by paying a $6.1 million penalty to be paid via a [[Fair Fund]] to its token holders. Unikrn also undertook to disable UnikoinGold <ref>{{Cite web|date=September 15, 2020|title=Unregistered ICO Issuer Agrees to Disable Tokens and Pay Penalty for Distribution to Harmed Investors|url=https://www.sec.gov/news/press-release/2020-211|access-date=September 15, 2020|website=SEC.gov|publisher=[[U.S. Securities and Exchange Commission]]}}</ref> Unikrn settled despite lack of consensus within the SEC that Unikoingold constituted a security, with Commissioner Hester M. Peirce saying, "I do not concur in my colleagues’ opinion that Unikrn’s token offering constituted a securities offering[...] By failing to challenge ourselves to experiment with new approaches to regulation, we, and those whose interests we are pledged to serve, risk surrendering the fruits of innovation. I respectfully dissent from the Commission’s actions today relating to Unikrn."<ref>{{cite web | title = Statement on SEC Settlement Charging Token Issuer with Violation of Registration Provisions of the Securities Act of 1933 | publisher=[[U.S. Securities and Exchange Commission]] | url=https://www.sec.gov/news/public-statement/peirce-statement-settlement-charging-token-issuer}}</ref> She further clarified, "[Unikrn] is not alleged to have engaged in any fraud."

In 2021, Unikrn partnered with FYX Gaming to work jointly on development of an updated monetization structure.<ref>{{Cite web|last=Duran|first=H.B.|date=March 11, 2021|title=Unikrn forms blockchain partnership with FYX Gaming|url=https://esportsinsider.com/2021/03/unikrn-fyx-gaming/|website=Esports Insider}}</ref>

== References ==

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{{ESports}}

[[Category:Privately held companiesCompanies based in NevadaMiami]]

[[Category:Esports websites]]

[[Category:Online gambling companies of the United States]]

[[Category:CompaniesGambling companies established in 2014]]

[[Category:2014American establishmentscompanies established in the United States2014]]

[[Category:2021 mergers and acquisitions]]