UnikoinGold ICO Analysis

Unikrn, the first ever eSports betting company, was established in 2014, within Seattle Washington. This young business caters towards gaming enthusiasts, providing a gambling platform in which members may bet on specific battles, tournaments and games. Games such as Counter Strike, League of Legends and Dota 2 are some of the games that users may bet on. The company is now planning to enter the cryptocurrency universe, introducing their UnikoinGold digital currency, which will allow users to bet on eSports as well as have the ability to exchange on the Ethereum network. Unikrn will launch their ICO at the end of August,

Strengths

1. A booming industry

The eSports industry is starting to gain a massive following, with the industry generating $748 million in revenue worldwide, according to SuperData Research. Massive viewership and major revenue comes from popular eSports events such as the League of Legends Championship which received a viewership of 27 million, in 2015, while selling out the prestigious Madison Square Garden stadium. Major events are what will increase the value in UnikoinGold, as the company believes that betting allows users to become more engaged with the matches while having fun. This large viewership will create more transactions with the token, helping stimulate the value.

1. Brand awareness

Mark Cuban, highly valued investor and ‘Shark” on the hit TV program Shark Tank, has personally invested within the company since 2015. Cuban, back in 2015 encouraged the Unikrn group to look into blockchain technology as he believed that their model would be the perfect fit. Recently, Mark Cuban announced that he will be participating in his first ICO, which will be UnikoinGold, along with other major celebrity names such as Ashton Kutcher, and Elisabeth Murdoch. Through their endorsements, The ICO will gain a huge momentum with hype and most certainly increase the value of the coin.

1. Brand Leader and partnerships

Unikrn are the brand leader within the industry, having major shares within the eSports environment. Unikrn in 2015, announced that they would have Tabcorp as a betting agency, which targeted 500,000 Australian adult gamers who play and watch Counter Strike and League of Legends. Just recently, the company has also partnered up with Betgenius to create an “immersive live eSports betting platform”.

Rahul Sood, CEO of Unikrn, said of the deal:

“There is no doubt that legal, regulated wagering is a blossoming frontier in esports and we are proud to offer our customers with not only the most engaging product on the market but the most secure. This could only be achieved by partnering with a leading supplier with the utmost integrity. Betgenius was the clear choice.”.

This move will help legitimize eSports betting with consumers.

1. Experienced and Connected Team

Rahool Sood, the Co-founder and CEO of Unikrn, has an extensive amount of knowledge within the entrepreneur, gaming and technology world. He has launched countless ventures within Microsoft, giving him an edge in technology as well as having an extensive connection base with the conglomerate company. He is also the advisor for Razor, one of the largest gaming companies in the world

Weaknesses

1. Competitors

Their biggest competitor is CS:GO, which trades Skins, a digital good that exist inside the video games. Cash gambling in sports, including eSports, is banned in 46 states in the USA and some European countries, but an American case law states that virtual goods for betting on the outcome of matches is legal and not covered under gambling laws. This allowed CS:GO skins to be awarded, in games, traded and gambled. Eilers and Narus estimated that $2.3 billion in skins were used to bet on eSports in 2015, $5 billion in 2016, and projected that over $20 billion in skins would be gambled by 2020 if the market was left unchecked.

Overall, the company looks as though it can hinder some great success in the future. They are now entering into new waters in which I personally believe they can profit and expand at an alarming rate. This ICO will definitely be one to watch.