Unicoin, the title sponsor for Benzinga’s 2023 Fintech Deal Days and Future of Digital Assets, is far from just being a cryptocurrency.
The company offers investors opportunities in real estate, pre-IPO companies and has a show similar to Shark Tank, but with viewers also able to invest alongside on deals.
Here's more on the company.
About Unicoin: In an exclusive interview with Benzinga, Unicoin founder and CEO Alex Konanykhin, shared that it was the maturation of the cryptocurrency sector that led to the creation of the company.
Unicoin, which was introduced last year, is a publicly traded cryptocurrency that is asset-backed, pays dividends, and is subject to auditing.
"The wild west days in crypto are not going to last forever," Konanykhin told Benzinga.
Konanykhin said that it was fine when the cryptocurrency market was just serving cryptocurrency enthusiasts to be unregulated and have less transparency.
"Once crypto market matures, it's going to be regulated, investors looking for transparency,” he noted. “That's why we introduced Unicoin to investors."
As one of the best examples of transparency in the sector, Konanykhin recalled the recent guilty verdict of FTX co-founder Sam Bankman-Fried.
Konanykhin said investors lost billions of dollars in FTX because they could not see what was happening.
"Institutional investors and smart investors want to know what they're investing in."
The Unicoin founder said it's important to know who's behind companies and cryptocurrencies, if they're well-funded and what the profit & loss statement or balance sheet looks like.
"That's why we believe transparency is going to be paramount to this type of investor."
Also Read: EXCLUSIVE: Crypto Payments Here To Stay, Solana Exec Says: ‘US Risks Losing Talent’
Real Estate Investing And Pre-IPO Companies: Unicoin introduced a real estate investing platform that allows people to invest real estate into Unicoin, essentially swapping their real estate for the cryptocurrency.
Konanykhin said the advantage for investors is that instead of cash, they can use cryptocurrency to invest in the deals.
Investors can also take part in stakes in pre-IPO companies thanks to Unicoin's subsidiary, the "Unicorn Hunters" show.
Konanykhin calls the show "Shark Tank, but almost all viewers able to co-invest with our judges."
The first season of "Unicorn Hunters" had 19 episodes produced and featured judges like Rosie Rios (former U.S. Treasurer), Moe Vela (former Senior White House Advisor), musician Lance Bass and more.
Likely the most recognizable name from the "Unicorn Hunters" show is judge Steve Wozniak, who is the co-founder of Apple Inc AAPL.
Konanykhin said it was hard to find someone better for the show than the co-founder of a company that started in a garage and went on to be the most valuable corporation in the world.
The Unicoin founder said they reached out to Wozniak and he agreed to participate. Wozniak, who will be back for a second season of the show, finds the program emotionally stimulating and as an investor enjoys discussing ideas with other entrepreneurs. He’s also an investor in the company, with ownership of stock and coins.
Unicoin doesn't invest cash in any of the companies on the show, but gets a 10% stake for helping them get funding from investors around the world.
What's Next: Unicoin plans for an ICO (initial coin offering) in the future on its crypto token, an event that could happen sooner than later.
At a shareholder meeting Monday, Unicoin investors were asked about their preference of holding the ICO now or in the future.
Konanykhin said shareholders will vote over the next 10 days and a decision will be made, which comes as some investors want to make sure the company has two signed listing agreements with cryptocurrency exchanges before going public.
The Unicoin founder said some shareholders also want to wait until more catalysts happen in the cryptocurrency space like the halving of Bitcoin BTC/USD, which is expected in 2024, or an SEC approval of Bitcoin ETFs, which could happen before the end of 2023.
One of the items that could help Unicoin, according to Konanykhin, is its ability to have a marketing budget and highlight the coin outside of just the cryptocurrency sector.
The Unicoin founder said that Bitcoin and other cryptocurrencies had no marketing budgets and while some got lucky, like Bitcoin, others will likely disappear.
"We want to make Unicoin a universally recognized brand, synonymous with the advantages we previously discussed."
Konanykhin said cryptocurrencies are becoming a preferred method of payment and it could be similar to the internet, which is now mainstream.
"I think crypto is maturing to mainstream status."
Join Benzinga's Fintech Deal Day & Awards on Nov. 13 and Future of Digital Assets on Nov. 14 in New York City to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space. Secure early bird discounted tickets now!
Photo: Unicoin and Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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