Despite currently being involved in a cryptocurrency initial coin offering (ICO), eSports betting company Unikrn is looking to extend its services to the MSAR with local gaming operators having expressed interest in a possible partnership
After announcing it is applying for its first gaming licence in Europe and currently holding an initial coin offering (ICO), eSports betting company Unikrn told Business Daily the group has been approached by some Macau gaming operators for a possible collaboration.
“Unikrn is very interested in Macau and would be open to partnering with good operators if they want to set up eSports experiences inside their venues,” company CEO Rahul Sood told Business Daily.
Founded in Seattle in 2014 and with offices in Berlin, Sydney and Las Vegas, Unikrn provides bookmaking for eSports and video games
“There is a significant market opportunity in Asia for Unikrn to expand our footprint. We are one of the strongest eSports brands in the world, and we have a pretty strong and growing community in South Korea,” a Public Relations professional representing the company told Business Daily.
The company currently holds licences to conduct real-money wagering in Australia and the Isle of Man and has established a partnership with Australian gambling platform Tabcorp.
On September 9 Unikrn announced it had established a joint venture with French online gambling company RBP to create Unikrn EU, an eSports betting platform for the European market.
“For a little over a year, Unikrn EU has been working with the Malta Gaming Authority to acquire our new licence […] Malta has some of the highest regulatory requirements and processes; they are by every measure the gold standard and one of the most respected authorities for responsible and ethical wagering,” said the CEO of Unikrn.
Currently, Macau legislation does not effectively allow online gaming with the government having only provided gaming concessions for online gambling on horse racing to Macau Horse Racing Co. Ltd. and sports betting on football and basketball via Macao SLOT Co. Ltd.
In September, Unikrn launched an ICO, which according to the company managed to raise over US$30 million (MOP241.1 million) in Ethereum cryptocurrency from over 112 countries, with the Co-founder of Ethereum, Anthony Di Iorio, being part of Unikrn’s Board of Advisors.
The ICO involved Unikrn selling virtual tokens called UnikoinGold that can be used on its platform to bet on eSports matches or exchanged for other cryptocurrencies such as Ethereum and Bitcoin.
The group said the ICO would be extended until October 22, with a fundraising cap set at US$100 million.
‘Through continued expansion of Unikrn, and with new industry partners, the UnikoinGold token is well positioned to become the universal token for use in eSports and gaming across the industry,’ the company recently announced.
The company stated that the ICO managed to gather investment from American businessman and early startup investor Mark Cuban; and cryptocurrency venture capital companies CoinCircle, Blockchain Capital and Pantera Capital.
According to the Unikrn representative, the company currently allows users in Asia to bet on eSports through the Unikoin digital token, and with users able to earn UnikoinGold by playing games on its platform.
At the end of September, however, the Monetary Authority of Macau (AMCM) issued a statement declaring that financial institutions, banks and payment services in the city were prohibited from providing services for companies providing tokens and virtual currencies.
The AMCM warning followed a decision by the People’s Bank of China to ban ICO’s or fundraising using the issue of digital currencies, while the Hong Kong‘s Securities and Futures Commission said at the same time that ICO’s would be covered by the department and treated as company stock purchases.