Unikrn
The SEC made it disable its token; its new owner shut the betting app in 2023
A Seattle esports betting platform, backed by Mark Cuban and Ashton Kutcher, that sold its own Ethereum token, UnikoinGold, for wagering on matches.
- Capital raised (announced)
- Estimated
Recorded announced backing; this is separate from cash received, customer deposits and money recovered.
Funding
| Round | Date | Announced | Investors |
|---|---|---|---|
| UnikoinGold token sale (2017) | 2017 | ||
| Venture funding (2014-2015) | Unknown |
Announced is what was said at the time. Cash actually received is rarely disclosed and is not assumed to match.
People
| Name | Role | Period | Now | Last checked |
|---|---|---|---|---|
| Rahul Sood | — | CEO, Irreverent Labs | Oct 2026 | |
| Karl Flores | — | CEO of Unikrn, reported to be joining Entain with Unikrn's other employees | Oct 2026 |
Timeline
2014
1 September 2015
Earlier that summer the company had announced a $7 million raise from Mark Cuban. The new arena let users bet with earned virtual coins in countries where real-money betting was not allowed.
25 September 2017
The company said the sale had already raised $25 million, including presale purchases by crypto funds, and would be capped at $100 million.
2020
15 September 2020
Without admitting or denying the charges that the sale was an unregistered securities offering, Unikrn agreed to pay a $6.1 million penalty, which the SEC said was substantially all of its assets, for distribution to token buyers, and to disable UnikoinGold. It also settled with Washington State's Department of Financial Institutions. The company said it would keep operating.
12 August 2021
Terms were not disclosed.
19 October 2021
The 50-person team moved to Entain to lead its esports launch.
December 2022
9 October 2023
Deposits and wagering were halted and customers were notified that their accounts would close.
How it ended
Entain, which bought Unikrn's technology, brand and team in 2021 and relaunched it in December 2022, said in October 2023 that it was scaling back Unikrn's direct-to-consumer operations. Deposits and wagering were halted, customers were told their accounts would close, and Entain said it would use Unikrn's esports betting capabilities through its other brands. The UnikoinGold token had already been disabled in 2020 under a settlement with the SEC.
Still alive
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Sources
12 sources behind this page.
- 1Online gambling company Entain buys esports betting startup Unikrn as it looks to triple its business · CNBC · Aug 2021
- 2Ethereum co-founder and Mark Cuban put $25M toward Unikrn esports betting platform's digital token sale · CNBC (republished from Recode) · Sep 2017
- 3Crypto Esports Startup Unikrn to Pay $6.1M in SEC Settlement Over 2017 ICO · CoinDesk · Sep 2020
- 4Why aren't fans that interested in esports betting? Luckbox suspends bets, Unikrn scales back and Midnite makes layoffs · Esports News UK · Oct 2023
- 5eSports betting startup Unikrn to pay $6.1M in SEC settlement over unregistered initial coin offering · GeekWire · Sep 2020
- 6Online gambling giant Entain to acquire Seattle esports betting startup Unikrn · GeekWire · Aug 2021
- 7Seattle startup Irreverent Labs lands cash from Samsung after pivoting to AI video generator · GeekWire · Aug 2023
- 8Unikrn reveals latest celebrity investor is Ashton Kutcher, launches new eSports platform without the gambling · GeekWire · Sep 2015
- 9Entain completes acquisition of Unikrn esports assets · iGaming Business · Oct 2021
- 10Entain to scale back B2C operations at Unikrn · iGaming Business · Oct 2023
Show 2 moreShow fewer
- 11Entain winds up Unikrn in curiously abrupt ending · Sharpr (newsletter) · Oct 2023
- 12X account record for @rahulsood · X (via twitterapi.io)
Every figure above is clickable and opens the sources behind it. Copies were stored when each source was read, so a citation still resolves after the page it came from is gone.