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Introduction to Unikoin Gold (UKG) – An eSports Token

Introduction to Unikoin Gold (UKG) – An eSports Token

The global eSports industry is projected to be worth over $900 million by the end of 2018 and that figure is expected to reach $1.65 billion by 2020. Unikoin Gold is a cryptocurrency that aims to capitalize on this massively growing esports industry by allowing gamers to win prizes and bet on their favorite eSports teams.

Unikoin
Unikoin Gold is an eSports betting token used within the Unikrn sports betting ecosystem.

Unikoin Gold is the cryptocurrency used on the website Unikrn.com which provides gamers with the opportunity to participate in outcome prediction of professional eSports matches.

The website uses two tokens, Unikoin Silver (UKS) and Unikoin Gold (UKG) to reward its gamers and users.

What is Unikoin Gold?

Unikoin Gold can be used to participate in jackpots which are Unikrn’s way of giving players value, without breaking the law. There are a lot of laws and regulations involved with betting and cryptocurrency, which makes it difficult for outcome prediction platforms to giver users winnings in the form of fiat or cryptocurrency.

Unikrn hands out rewards such as video games, cryptocurrencies, and video game cosmetics upon winning these jackpots. Skins from games like Counter-Strike and Dota 2 can be directly traded for UKG on their website.

A screenshot from the Unikrn website showing possible items that can be won from a jackpot.

Unikoin Silver

Unikoin Silver is a point system limited to the website and is handed out pretty freely. Several gifts of UKS are given daily for logging in, following Unikoin social media accounts, and just playing games. Unikoin Silver can also be used to participate in jackpots, but are not as efficient as UKG at increasing the odds of winning.

Unikoin Silver is not listed on any exchanges, and it can not be sent on the blockchain like UKG. It’s local to the Unikrn website, and its only uses are to bet on eSports matches and participate in jackpots.

Unikrn Betting

The Unikrn website allows gamers to bet on eSports matches, in games such as Overwatch, League of Legends, Counter-Strike and more. Choose a team, and depending on the odds, you will a receive a multiplier to your UKS.

If I were to bet on Team One, and they won, I would receive a 5x multiplier on my UKS used in the bet. If they were to lose, however, all entered tokens are lost.

By winning several bets in a row,  your stack of UKS will increase, allowing you to have a higher chance to earn prizes in jackpots.  Links to watch eSports matches that you have bet on are provided through the website. Parlays are also an option, which chain together multiple bets for multiplicative winnings.

Jackpots Explained

Below is an example of a Unikrn jackpot with 25 UKG being raffled away. In order to participate in the raffle, Silver and Gold tickets can be purchased. Gold tickets are purchased with UKG, and silver tickets are purchased with UKS. Gold tickets give the best chance of winning but are purchased with the more valuable of the currencies.

In this example I am buying 5 silver tickets, for 205 UKS, giving me a 0.35% chance to win the raffle.

If this raffle accepted both gold and silver tickets, a combination of both should be used to give the best chance of winning.

What is Unikoin Connekt?

Connekt is a way of earning UKG and UKS, by playing your favorite games.

Screenshot from the Unikrn website.

Eligible UKG games are League of Legends, Counter-Strike, and Dota. Users will also be rewarded for playing Rocket League, but Rocket League only rewards UKS.

Connekt users will receive .5-1 UKG for a League of Legends win, which is currently around .15-.30 cents a day. If you are playing video games anyway, it might not be a bad choice to link your account.

In order to link gaming accounts, Unikrn requires its users to create custom games that meet certain criteria or to log in to Steam. There are no password security risks when linking accounts as it is all done in-app.

Unikrn does not allow Unikoin Gold earned from Connekt to be sent out to an exchange or external wallet, only tokens won from jackpots can leave the site.

History and Team

Rahul Sood, Co-founder, and CEO of Unikrn

Unikoin Gold is led by Rahul Sood, an early leader at Microsoft, and advised by Anthony Di Lorio, an Ethereum co-founder.

Unikoin has received over 10 million dollars in investments from some big names, such as Mark Cuban and Ashton Kutcher. The Unikoin team is based out of Seattle, but also has offices in Berlin, Las Vegas, and Sydney.

Another key member of the Unikoin Gold team is Karl Flores. Flores is the other Co-founder and CMO.

Distribution

Unikoin Gold was distributed through an ICO that ended on October 23, 2017. They raised around $30 million. Each Unikoin Gold token went for .00115 ETH. Participants had caps of .1 ETH (min) to 962 ETH (max).

Recent Price Movement

Unikoin Gold is currently sitting around 30 cents, down from its all-time high of over $2 in December. During this price decrease, the total cryptocurrency market saw a fall from over $850 billion to $300 billion.

UKG 3-Month Cart
Unikoin Gold price chart over the past 3 months.

Unikoin Silver cannot be purchased and is earned through bets and rewards.

How to Store UKG

Unikoin Gold is an ERC20 token, which means it can be stored on MyEtherWallet or the Ledger Nano S. The Unikrn betting website also has a built-in web wallet, that can store any amount of UKG. Unikoin Silver is only able to be stored on the Unikrn website.

How to Buy UKG

Unikoin Gold can be purchased on exchanges like Bittrex and Kucoin, but can also be earned for free by playing games. It is also available on the decentralized exchanges (DEXs) Idex and Etherdelta.

Unikoin Community

The Unikoin Reddit community is still relatively small, with around 1,000 users. To stay up-to-date with the project, follow the official Twitch and Twitter. To encourage community growth, Unikoin Twitter and Twitch followers are rewarded 10 Unikoin Silver each a day.

Conclusions

As the platform grows and it attracts more users, it is possible that the demand for Unikoin Gold may increase, but the success of the platform depends on how many gamers attention they can capture.

There are no popular fantasy game or betting websites like Draftkings or Fanduel for eSports yet. Unikrn is pioneering the eSports fantasy game industry and may see wider adoption in the future.

To learn more about Unikoin Gold and Unikoin Silver like current events, social media profiles and more, check out our Unikoin Gold coin profile.

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Austin Tuwiner

Austin is an avid cryptocurrency investor studying computer science and software engineering at Towson University. His hobbies include researching cryptocurrencies, travel, and rock climbing. His goal is to help the average person understand and get into into cryptocurrency.

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