Virtue Poker Announces Strategic Investment Round of $5 Million

Developed within ConsenSys in 2016, Virtue Poker is a decentralized poker platform based on the Ethereum blockchain that delivers a safe, honest and fun experience for players. Backed by ConsenSys, DFG Group, Digital Strategies, Fenbushi Capital, Flurry Capital, JRR, Pantera Capital and stakeholder Phil Ivey, the platform aims to bring blockchain-based betting to the mainstream globally with its recently acquired Malta Gaming License. See posts for more insights on virtue Poker.

 

In a recent press release, Ta' Xbiex-based Virtue Poker announced that it has closed a strategic investment round of $5 million. The funds were raised from Pantera Capital, Consensys, DFG Group, Jez San from FunFair and other notable investors.

 

The company said it would use the money to bootstrap the launch of its mainnet, which is scheduled for May 2021. Coinlist recently included the company in its Seed Winter 2021 Batch, and a token sale for the platform was completed earlier this year that raised nearly $20 million.

 

One of the most interesting aspects of Virtue Poker is its shuffling system, which is designed to counter the infamous “Is it rigged?” question in a reassuring way. However, this is something that less tech-savvy users might find confusing.

 

Another noteworthy aspect of the Virtue Poker platform is that it is fully licensed and regulated by the Malta Gaming Authority, which is the first and only blockchain-based company to receive a license from the Malta Gaming Authority. This is a major achievement for the team, as it has worked closely with regulators to ensure that it can offer provably fair poker while never having custody of players' funds.

 

Founded in 2016, Virtue Poker is a decentralized peer-to-peer poker platform that uses the Ethereum blockchain and peer-to-peer networking to deliver an online poker site that is safe, honest and fun. The platform is backed by ConsenSys, DFG, Digital Strategies, Fenbushi Capital, JRR, Pantera Capital and other notable firms along with stakeholder Phil Ivey.

 

The company is on a mission to make blockchain-based gambling mainstream and transparent, and it has been working with the Malta Gaming Authority for years to achieve its goal. After nearly two years of consultation, in-person meetings and effort, the team can now boast that they are the only licensed blockchain-based poker application available on the market.

 

In addition to the license, the company also plans to launch its platform on the Binance Smart Chain (BSC) in June. Once launched, Virtue Poker will become the first licensed, multi-chain compatible blockchain based poker platform.

 

To support the launch, Virtue Poker is providing a deposit contract that allows users to deposit either BUSD or VPP on the platform via a BSC contract. These deposits will go to a wallet under the player's control within the Virtue Poker sidechain. The first 100 players to deposit 1000 VPP through their BSC contract will be awarded 100 BNB tokens, which they can then use to play the game. Knowledge is power and so you would like to top up what you have learned in this article at: https://simple.wikipedia.org/wiki/Poker.