Gambling
Unikrn Shuts Down: The Rise & Fall of an Esports Betting Titan
The esports betting platform, Unikrn, has declared its operational shutdown. Once a major player in Brazil, Canada, and Chile, its closure was anticipated by many. This marks the end for one of the early giants in the esports betting realm.
Announcing their decision on Twitter, Unikrn revealed that while it remains under the Entain Group umbrella, betting will cease from 13 October 2023.
Making Waves in German Esports
In German-speaking regions, Unikrn held significant clout, particularly in the Counter-Strike arena. As an initial backer of BIG (Berlin International Gaming), its influence was evident. However, the Unikrn emblem has long vanished from BIG’s attire. With stars like Fatih “gob b” Dayik and Nikola “LEGIJA” Ninic, BIG had ambitious beginnings, with many former mousesports players in its roster. Behind-the-scenes stalwarts included Christian Chmiel aka “Blizzard” and Yilmaz Ozan, BIG’s COO and co-founder, who also initiated mousesports.
SEC Troubles Loom Large
In 2020, Unikrn faced a significant setback. Following an unregistered token sale, they encountered a hefty penalty and a major issue with the SEC. They had to pay a whopping USD 6.1 million in a settlement without admitting guilt, after raising USD 31 million in 2019 from a digital asset named UnikoinGold.
Unikrn willingly agreed to the settlement, paying the fine which was then distributed to its token holders through a fair fund. They also committed to deactivating UnikoinGold. Interestingly, there was no consensus within the SEC that UnikoinGold was a security. Commissioner Hester M. Peirce expressed her disagreement with her colleagues, stating she didn’t view it as a securities offering. No fraudulent activities were attributed to Unikrn.
A Renewed Vision
In a bid to rejuvenate, Unikrn collaborated with FYX Gaming in 2021, integrating “Crypto Fights” into the Unikrn Virtual Universe. This venture aimed to offer developers crypto-based revenue avenues. While the reasons for Unikrn’s shutdown remain veiled, their efforts to avert this outcome were palpable.
