ESports betting company Unikrn has completed an initial coin offering for its own eSports token and raised a reported million.
According to a report at the cryptocurrency news site coindesk.com, the firm collected 112,720 ethers, worth $31.4 million in the sale. A presale, which was backed by Dallas Mavericks owner Mark Cuban took in 56,000 ETH or about $15.6 million.
Rahul Sood, chief executive of Unikrn, told the website that the company had sourced contributions from 112 countries, characterizing them as “mostly small purchasers.”
The token, called Unikoin Gold, will act as a common medium of exchange for bettors to use on the platform, which allows for placing wages on games like League of Legends, Defense Against the Ancients and CounterStrike, among others, the report said.
Sood told the website that the firm plans to release of additional applications to build on the Unikoin framework, including tools that allow users to garner more tokens.
“We have plenty of applications that allow users to use and earn tokens. We will start to release them in November through February,” he said.
In another eSports story, the Downtown Grand casino in Las Vegas has announced it will host a November 4 event allowing fans to watch and legally bet on The League of Legends Worlds Final at its dedicated eSports facility.
The casino is the only one in Nevada which will be taking bets on the eSports contest. The event will feature food and drink specials, games and raffles during what the property is calling a “free and immersive viewing party experience.”
