Esports gaming startup, Unikrn, recently received a betting license in the Isle of Man. This opens up the company’s possibility of launching a cryptocurrency betting service around the globe.
Last year in October, Unikrn raised $15M USD from global accredited investors. The investors’ list includes some popular figures like Mark Cuban Shari Redstone, Ashton Kutcher, Guy O’Seary, and Elisabeth Murdoch.
Once that startup’s cryptocurrency betting service goes live, users can place bets on esports players, teams, and events. Furthermore, they can also bet on their own performance on esports games like League of Legends, Fortnite, and Dota2.
Unikrn said that live betting for gaming and esports competitions will begin on its platform this month. The service will be available for both fiat and crypto customers.
Unikrn’s betting platform will integrate its native cryptocurrency token Unikorn Gold (UKG). Its users will also get access to exclusive benefits. UKG is Unkirn’s exclusive wagering token available in more than 20 countries. It includes a majority of Europe and some regions of Asia and Latin America.
The esports firm will be using the transaction infrastructure provided by Bittrex to seamlessly convert fiat or cryptocoin into UKG. Notably, the Bittrex infrastructure will ensure a frictionless payment experience.
Unikrn COO, Andrew Vouris, talked about the user experience on its new betting platform. Vouris says,
“This is long in the making. You can bet in fiat, crypto, or both, to bet on live markets or pre match for twenty titles and dozens of games a day on titles such as League of Legends, Dota and Fortnite.”
The esports startup said that it has created a fully functional wagering backed Unikrn Jet powered by the blockchain technology. The Unikrn Jet can process nearly 9000 bets per second. Its play token economy has already integrated a wagering package. It is also ready for immediate deployment for regulated fiat and crypto betting.
“Unikrn built the most advanced wagering backend in the world, built by incorporating blockchain technologies, and we’re entering a segment of the global games market which exceeds $30 billion. Equally historic for esports, wagering and blockchain, we’re the first company on the planet to launch with a license including crypto and fiat betting from the Isle of Man, which is home to one of the most respected regulators for gambling,” said Unikrn Co-Founder and CEO Rahul Sood.
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