Share this article
Mark Cuban-Backed Unikrn Raises $31 Million in E-Sports Token Sale
Unikrn, an e-sports betting site, has raised roughly $31 million in an initial coin offering, or ICO.
By Stan Higgins
Updated Sep 13, 2021, 7:04 a.m. Published Oct 23, 2017, 4:15 p.m.
Make us preferred on Google
E-sports betting startup Unikrn has raised roughly $31 million in an initial coin offering.
The firm collected 112,720 ethers – an amount worth approximately $31.4 million at press time – in a token sale that took place in two phases, including 56,000 ETH (roughly $15.6 million) in a presale backed by celebrity investor Mark Cuban. In an email, Rahul Sood, chief executive of Unikrn, said that the company had sourced contributions from 112 countries, characterizing them as "mostly small purchasers."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The ICO's completion also follows Unikrn's receipt of a gambling license in Malta, a significant boon for a company looking to apply the tech to the electronic sports betting space.
The idea is that Unikoin Gold, the token that was up for sale, 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 (Dota) and CounterStrike, among others.
Unikoin Gold is actually replacing a previous in-house virtual currency, dubbed Unikoins, that was used in conjunction with government-issued currencies on the site. The startup was founded in 2014 with backing from investors like Elisabeth Murdoch and Ashton Kutcher.
According to Sood, the coming months will see the 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.
Image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Asia Morning Briefing: Bitcoin holds steady above $90K as fresh money returns to crypto
New-year allocations support bitcoin prices as leverage cools and volatility expectations rise.
What to know:
- Bitcoin remains stable above $90,000, reflecting consolidation rather than renewed selling pressure.
- Ethereum shows resilience with strong weekly and monthly performance, despite a cooling in futures positioning.
- Gold is expected to reach new highs in 2026 due to falling rates, central bank buying, and geopolitical risks.
Top Stories
