Competitor analysis — Skrilla v Unikrn
Skrilla is a licensed, fully regulated, global esports wagering brand.
Our token presales starts on October 20, 2017, 9pm UTC time. You can register for our presale at tokensale.skrilla.com
We have received a number of questions about how we compare and contrast to Unikrn, an esports bookmaker who represent Skrilla’s closest competition. So we thought it best to write a blog post on the topic.
Although we are building different products, both teams are mature operators currently running token sales in the esports wagering space, and in a rarity for Token Sales, actually have products in the market! Below are some details about our platform, the token, and it’s similarities and differences with both Unikrn and Unikrn Gold.
Unikrn currently operate a traditional centralised bookmaking platform, whereby they create markets and accept bets from members at agreed upon odds. They currently have regulatory approval to do so in two markets, Australia and the UK, with online bookmaking deemed illegal in the United States, other than a select few states, as well as a significant number of countries worldwide.
Unikrn’s development roadmap refers to both chance and skill based peer to peer betting applications, in the form of pari-mutuel betting and head to head competitive play between members. This will require them to build these platforms from first principles, which Unikrn have yet to execute on. They currently rely upon a 3rd party API (Luxbet) to run backend bookmaking and operational services for their live platform.
The Skrilla Whitepaper also outlines chance and skill based esports betting applications including a bet exchange and head to head based competitions between members, however our Daily Fantasy platform is already live and operational in the market — www.skrilla.com, with us owning and operating our own end to end tech stack and systems. As a game of skill it can also be accepted within a far broader set of jurisdictions than Unikrns’ current offering, including the majority of US states.
A P2P platform where users play games against each other, for tokens or cash, is great for competitive gamers, but it will not service a majority of esports fans, a large group who rarely play competitively and who would prefer to enter contests related to professional esports matches they stream and engage with. Unikrn will be competing with a number of other startups and tokenised businesses in this space, including First Blood.
We intend to build a bet exchange, and over the last three years have built and operated the tech stack and systems required for a head to head competition platform between members, as this underpinned Puntaa’s business. This positions us strongly should we also decide to launch a similar platform in competition with Unikrn.
Licensed and regulated
Unikrn’s bookmaking platform is licensed in the Australian and UK markets via Luxbet, an investor in Unikrn. Skrilla is also licensed in Australia, utilising Puntaa’s licence.
The Skrilla team is well versed across all matters relating to wagering and regulation. We apply industry leading practices and systems to deliver consumer protections, including KYC, account verification, underage screening, responsible gambling practices and anti-money laundering (AML) checks. This core competency has been developed in-house, which differs to Unikrn which leverage 3rd party systems through Luxbet.
We are both members of the Esports Integrity Coalition (ESIC), recognised as the acting international body for esports wagering integrity, and along with other stakeholders united by a desire to confront and prevent corruption in esports; particularly match-fixing driven by betting fraud.
Skrilla has submitted applications for real money wagering licences and met with gaming commissions in several jurisdictions, including Europe and the US. Due to Australia’s position as mature regulatory gaming market and Skrilla’s status as a licensed operator, we are well positioned to operate our existing live product, compliance systems and operational processes, with limited adjustments for the regions we intend to enter.
Simple Token Utility
The Skrilla Token (SKR) will become the core unit of exchange within the platform. The primary function of SKR will be for entry into contests, to place bets and to receive winnings.
This pattern is cyclical and highly repeatable within a peer to peer network, with the token continuously being exchanged amongst the platform users in entered and resulted contests. As more players join the network, token usage increases, which sees a corresponding increase in token demand.
In addition, using a token as a central currency will allow us to distribute work tokens, to members and affiliates, when they engage in behaviours such as entering contests, verifying their account, or referring new members. This will enhance the network effects of the platform which will be of benefit for all members and token holders.
We intend to phase out traditional fiat currencies within the platform, and use SKR as the sole unit of exchange. Unikrn intend to operate a similar unit of exchange to that listed above, however they do not intend for their token to be the sole currency they utilise within their ecosystem, which could dilute the potential value of the coin.
GAMURS Group - Community & Product Distribution
Although Skrilla is a relatively new brand, born in early 2017, the two startups behind Skrilla, Puntaa and GAMURS, are VC backed technology firms that have both been operating since 2014. The GAMURS Group is one of the largest esports networks globally, with 12 brands, including the leading esports news publisher on the planet, Dot Esports, 3.5 million monthly active members and 250 million organic monthly social media impressions. Over the course of the last three years GAMURS have fostered a large and engaged esports community.
The intention is to design highly targeted, data-driven content campaigns to drive customer acquisition. The campaigns will be a combination of high impact website takeovers, banners, video advertising, social amplification across their 3.5 million followers and 80 million monthly unique social viewers, and sponsored content.
Skrilla will become a complimentary product within the GAMURS esports ecosystem that will add further value for esports fans.
GAMURS Group - Additional Products, further Token Utility
In addition to token integration within the Skrilla platform, we may look to integrate the token within the broader GAMURS Group ecosystem, where feasible. Early application within these networks can see the token used as a unit of exchange to:
- purchase premium education content, on DoubleXP, the world’s first platform to offer a university style education in gaming and esports, allowing gamers to improve their skillset across multiple titles; and
- purchase additional premium services on Teamfind, an ever-growing social network and go-to hub allowing users to join or assemble esports teams.
This is huge plus for Skrilla token holders. Broader integration of the token would mean we can provide value to a larger range of members, and thus grow the network. Unikrn’s Whitepaper makes no specific reference to how they intend to spread their Token into the broader ecosystem.
Issuance and Price
Unikrn are only making 20% of their total tokens issued avaialble for purchase during the sale and have publicly stated that their goal is to raise 100 million USD equivalent from the sale of those tokens. This would place their market cap upon listing at approximately 500 million USD in the event of a successful sale.
Skrilla intends to sell 60% of their total tokens issued to the community during the token sale, with 30% allocated to a growth pool, used to provide liquidity and to be distributed as work tokens to drive behaviours that grow the network. The remaining 10% will be allocated to the core team and advisors and be vested over time to ensure project alignment and delivery. In the event of a successful Token Sale sale our cap would sit at 1/6th of Unikrns at launch, which leaves far greater room for growth.
Although Skrilla is a relatively new brand on the esports wagering scene, we are building off a strong foundation, with a live licensed skill based product already in the market, functional and easy to understand token utility, huge reach with GAMURS audience, and a great team and advisory panel that has extensive experience both in the esports industry and operating licensed peer to peer wagering platforms globally.
Unikrn have the luxury of some big name investors lending amplification to their token sale. We recognise that PR is but one necessary component of building a valuable network over the long term that the esports community can get behind. We look forward to the challenge of competing with the other legitimate network provider in this space and hope you join us on the journey :).