Fundraising in the startup ecosystem, especially in the cryptocurrency sector has deviated from the traditional angel and venture capital dependent investments. As more and more crypto-projects continue to opt for the ICO route, many seasoned investors are forced to rethink their investment strategies in order to get a piece of the lucrative blockchain and bitcoin segment.
Mark Cuban, the entrepreneur, philanthropist and an investor of the Shark Tank fame has realized the industry shift and is willing to get his hands dirty by exploring the cryptomarket first hand through the ICO route. According to reports on various media outlets, Cuban has declared that he is likely to take part in Unikrn’s upcoming coin offering.
Mark Cuban was widely quoted by both cryptocurrency and mainstream publications alike after he called Bitcoin a bubble and implied that its value is overrated. Now, Cuban’s decision to participate in the ICO of his portfolio company has gained the media attention as well. He was quoted by a leading financial publication saying,
“I want to learn more about them… [I] haven’t signed the paperwork yet. But it’s likely it will happen.”
The platform offers an opportunity for the users to place wagers on a range of eSports. The implementation of virtual currencies, like its own tokens, will drastically reduce the geographical limitations otherwise applicable to the platform while making the who process much more user-friendly. While Unikrn is not the first platform to introduce cryptocurrency based wagering system, it might as well be the first mainstream one to shift from the conventional means of placing bets.
The Unikrn ICO is set for launch sometime in the later part of this year, and the new platform is expected to be created over the Ethereum blockchain. Cuban may not be the last person to embrace the ICOs and blockchain technology. The disruptive nature of ICOs and associated platforms is expected to attract more investors into the fold in the near future.
Ref: CNBC| Image: NewsBTC