Ethereum based decentralized poker platform, Virtue Poker completed a strategic investment round and raised USD 5 Million in the process. The multi-chain poker platform held an initial DEX offering ahead of its May mainnet launch date.
The company is funded by well-known investors such as DFG Group, Consensys, Pantera Capital, FunFair’s Jex San and more. Notable poker player and Poker Hall of Famer, Phil Ivy is also a stakeholder in the company along with being its public spokesperson.
In light of this news, Ivey commented, “I’ve been working with the team from Virtue Poker for close to three years, watching them build a next-generation poker platform.”
“Using a blockchain-based system creates a more secure and globally accessible payment system. I’m excited to continue my partnership with Virtue Poker and work to bring the platform to poker communities worldwide,” Ivey added.
The funds from this investment round will be used for Virtue Poker’s mainnet launch in May of this year. The company will be hosting an exhibition with prominent figures in the poker circuit like Phil Ivey, Joe Lubin, and others during the official launch.
Virtue Poker is now the only licensed blockchain-based poker platform in the world. Ryan Gittleson, CEO of Virtue Poker stated, “Blockchain technology provides a modern and secure payment infrastructure that provides accessibility to consumers globally. By working with regulators to become a licensed company, Virtue Poker now has legitimacy to crossover and compete for customers from legacy providers to bring blockchain-based wagering mainstream.”
Through blockchains, Virtue Poker aims to move towards a future where there is a high level of trust and transparency in the online poker industry. This would greatly reduce security concerns and slowly do away with tampered algorithms and expensive third-party processors. Backed by Consensys and Phil Ivey, Virtue Poker is on a mission to bring blockchain-based betting to mainstream poker.
Donna Amo is a writer at Gutshot Magazine. She is a graduate from Sophia College of Women, Mumbai with a degree in English Literature. When this October born foodie is not writing content or poetry, she spends her time laughing at memes or watching series. Based out of Mizoram, she is drawn to all things nature and has a soft spot for puppies.
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