American sports betting firm plans to hold an ICO

An American sports-betting platform Unikrn that was recently backed by Mark Cuban and other wealthy investors (including Rupert Murdoch’s daughter and members of the Redstone family) is planning to launch the cryptocurrency sale of $100 million next month. This is what Rahul Sood, the company CEO and one of its founders, states to Reuters in one of its recent interviews, the New York Times reports.

This is yet another token sale, or initial coin offering (ICO). During this event, an entrepreneur who creates a cryptocurrency then sells special tokens to public with the aim to seek funds for his project. The whole process is verified via blockchain and, to be more specific, with the use of its digital distributed ledger technology.

Unikrn wants to avoid bank regulations and chose cryptocurrency with this goal in mind, Sood told. He said that it’s almost impossible to find a bank with which it would be easy to work and that when dealing with more than ten different countries across the globe and across borders, it’s in the end much easier to use cryptocurrency.

The digital currency Unikrn will have created will be named UnikoinGold, and will replace the obsolete UniKoin that those who make bets are currently using.

The pre-sale will start in the next few weeks, while the sale itself will start in September. As Sood noted, there won’t be any discount for those who invested early.