Estimated reading time: 5 minutes, 56 seconds
Unikrn ICO is one of the most hyped tokens sales to date! In this video, Jeremy goes over what the project is and what is driving the excitement behind the Unikrn project. All about changing the game of e-sports, this may be a really interesting project for you. Jeremy also points out some pretty noteworthy names that have already invested in the project! Their ICO begins Friday, September 22nd, 2017.
What is the Unikrn project & what problem does it hope to solve?
We’ve discussed this before, e-sports is one of the fastest growing competitive industries. Streaming services have skyrocketed the number of those just watching video games. There are several reasons for this, and the best way to sum it up is as engagement and interactivity that viewers get. Viewers love interacting with those who broadcast video games, known as streamers. For streamers, interactivity is the name of the game. Loyal viewers, or subscribers, have proven that they will tune in again and again, but some streamers are asking how can they improve their platforms?
Unikrn believes that they have the answer to this, and they have an existing platform to back it up! Unikrn hopes to expand their current platform into a couple different cryptocurrencies. Currently, the Unikrn system allows for users to be rewarded with tokens that could previously be redeemed for raffles or prizes (non-monetary items).
Unikrn is changing this by transforming into a platform that is completely intertwined by using the Ethereum blockchain. Unikrn is converting their existing tokens into Unikrn Silver, which cannot be redeemed for money, but can be redeemed for those non-monetary rewards such as raffle tickets or prizes.
The ICO that is being conducted is for the Unikrn Gold token. The token will function to create a virtual economy that will be used for e-sports betting. Users can bet on an outcome using Unikrn Gold, and with the utilization of blockchain technology and smart contracts, payments can be executed automatically and autonomously using smart contracts.
Users will be paid out in Unikrn Gold for their correct bets. The best part about this? Unikrn will take a little bit of the cut of each token awarded for winning bets. By reducing the supply like that, they may ensure that the token has some long-term value.
What are the market conditions facing the project?
Like we said before, e-sports is growing at an insane rate. That’s going to bring along a lot of associated projects, frankly because people see and opportunity here. And they are right. With the advent of Twitch and YouTube, video gamers now have a platform to act as the host of their own channel. Something not really possible before.
E-sports and video streaming is growing. The Unikrn project is the perfect confluence of these. Viewers love the interactive aspect of streaming, and I only see that market growing.
Plus, it already has an existing platform. I’m coming out and saying it now; we’re going to see a huge disparity between successful ICOs. The main difference is going to be if they had existing platforms at the time of the ICO. This will be because it will be that much easier for these projects to get to market. Essentially they are further along in their progress than projects that are raising money to create a platform. It’s just another hurdle cleared.
There will be some competition. We just reviewed the Gimli ICO which is trying to do something similar, but it is mainly trying to function as a streaming platform where streamer can set bets, instead of a straight sportsbook where Unikrn acts as the house or bank, just like a casino.
Who is behind the Unikrn ICO?
This is where a lot of the hype is coming from. Some of the investors and team members have very recognizable names.
The first being Internet mogul and celebrity investor, Mark Cuban. Yes; that Mark Cuban from Shark Tank. This guy is a serious investor that doesn’t invest unless he has confidence in the project. This endorsement provides a lot of legitimacy. Not only is this guy an expert investor, but he made his money investing in tech. This name gives me a lot of confidence in the project.
Another investor in this project is Ashton Kutcher. That’s right; Kelso from that 70’s show. Okay, I know we may be laughing at his expense because what does an actor know about investing, but this guy has some serious business acumen. He’s an established angel investor with a record of success, so his support definitely means something.
Lastly, the CEO of the project worked for Microsoft for many years, establishing their venture capital wing. He’s an established name in the tech market that has already created the functioning Unikrn platform.
These are some huge names and a reputable team. I’m actually pretty impressed.
It’s important to note that the project has already raised $10 million from those investors like Cuban and Kutcher, along with many others with reputable names.
What is the design of the Unikrn ICO?
There was plenty of notice given for this ICO. I’ve been planning on reviewing this ICO for about a month now, and I really liked that there was a lot of time for hype and information.
Another interesting thing, Unikrn Gold will be treated differently depending on if you live in a regulated versus unregulated market. If you live in a jurisdiction where online e-sports gambling is illegal, it’s likely going to be more difficult for you to bet using the Unikrn Gold.
The ICO starts on September 22, 2017. It will run until the cap is reached, which is set at $100 million.
The supply being released to the public is about 200 million tokens. With quick math, that should be around 50 cents.
I do like that they are doing a capped ICO. The CEO himself said, “it would go crazy otherwise.” The amount of money they would raise would be too much, so he is being somewhat responsible in setting a cap of $100 million.
One criticism I have is similar to past ICO’s I’ve reviewed. That criticism being that only 20% of total supply is being released in the token sale. Now this is a little bit different because of the nature of what Unikrn is trying to accomplish. They do need to have tokens in reserve to pay people who are correct in their bets. However, those tokens are not going to immediately flow out into the market. And if more people are betting wrong, then they are going to keep holding on to a lot of them.
ICO or NO covers some of the hottest tokens sales from the coolest projects! Jeremy, though his patented Four Question System*, dissects each project to help you better understand the token sale! Check out more of our ICO or NO episodes here, and subscribe to our YouTube channel for future ones!
*Patent Maybe Pending