The eSports platform Unikrn has been awarded a gambling license in Malta.
The Seattle start-up, backed with venture funding from the likes of Mark Cuban and Ashton Kutcher had already raised $25 million for an initial coin offering through a crytocurrency token sale last month.
From CNBC via Recode:
Unikrn is selling virtual tokens called UnikoinGold that can be used on its platform to bet on esports matches. Those tokens can be exchanged for other major cryptocurrencies, such as ethereum and bitcoin, which can then be exchanged for U.S. dollars.
UnikoinGold is based on the ethereum blockchain, which is similar to Bitcoin, the largest digital currency that was trading up more than 7 percent on Monday despite concerns about regulation in China.
Unikrn will use the proceeds from the ICO to help fund the growth of its business; it plans to keep its ICO open for another month and will cap it at $100 million. The company previously raised $10 million in venture funding from Mark Cuban, Ashton Kutcher, Binary Capital, Indicator Ventures, and more.
Casino.org noted the importance of Malta’s decision to license a cryptocurreny online gaming establishment:
Casinos like BitStarz, Casino Betchan, Oshi Casino, and Vegas Casino have changed the face of the betting industry by proving that Bitcoin can be relied on as a trusted method of payment for gambling online.
This latest decision by the Malta Gaming Authority has shown further trust in cryptocurrency.
The eSports betting sector is expected to blow up in the next year within the North American market as wagering firms the likes of Bookmaker.eu enhance their eSports offerings.
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