About

UnikoinGold is an Ethereum based token created for the Unikrn e-sports platform.

History

Unikrn is an e-sports entertainment and betting platform that allows users to place wagers on e-sports matches and complete skills based games. UnikoinGold is an Ethereum based token used on the platform as a native payment and rewards currency. Prior to launching the UnikoinGold (UKG) and UnikoinSilver tokens, the Unikrn platform already had a token, Unikoin, that was used to buy products through the Unikrn jackpot market. However, betting laws limit Unikoin functionality to exist solely within the Unikrn system. As a result, the team launched a new ERC20 token, UnikoinGold, in an effort to give alternative methods of turning over winnings on the Unikrn platform. Following the launch of UKG, the team elected to replace the title of the original Unikoin token with that of the UnikoinSilver token but did not make any functional changes to this existing token.

The creation of UKG coincides with a skill-based betting product that is expected to be legal in most of the United States and other markets in the world. Unikrn anticipates to expand beyond Australia and the United Kingdom for UKG betting, and also plans to allow more betting operators to license Unirkn’s platform in an effort to allow customers in more regions around the world to live bet on e-sports tournaments and also bet on themselves in skill-based challenges. UKG is designed to be used as a rewards and incentive token for the exchange and interchange of a virtual point-based reward system for the purpose of legal and licensed gambling on e-sports matches, tournaments and other engagement around gaming and jackpots. Conversely, the UnikoinSilver token is designed to replace the former Unikoin token whereby, similar to UKG, it allows users to earn, bet and compete in any jurisdiction where the Unikrn platform is offered, but unlike UKG users are not allowed to withdraw from the platform.

The team aims for UKG to become a standard token for the e-sports and gaming ecosystem. Currently, Unikrn’s e-sports platform has certain limitations depending on whether users are located in jurisdictions in which Unikrn is licensed to offer a full suite of gambling services (known as a Full-Service Jurisdiction) or in jurisdictions where Unikrn will offer a more limited set of betting services (known as a Limited Jurisdiction).