It’s been a long superhighway from conception to perfection for the cryptocurrency-based online poker site Virtue Poker, with Phil Ivey still in place as its contributing spokesplayer, and a pending real-money launch slated for next month.
Poker Hall of Famer Ivey has been the face of the blockchain poker campaign since his own” Ivey League” endeavor closed its entrances in 2017.
Virtue’s announcement of the meant May launch came on Monday amid an investment-themed press release in which Virtue’s corporate mother, ConsenSys, declared that it had successfully completed its latest funding round, fostering an additional$ 5 million in investment capital.
One of the site’s major selling pitches is that it will be a decentralized online poker programme: musicians will fund their own bankroll pocketbooks independently and will retain control over whatever virtual funds are not actually in play at a payed table or in a tournament, removing any potential threat of corporate theft from the site’s coffers.
Virtue’s latest presser likewise proclaimed that it was the first such site to be licensed by the Malta Gaming Authority. The MGA has been perhaps the world’s most proactive online-gambling regulator to pursue blockchain-based gambling opportunities.
“After years of consultation, in person assembles, and exertion,[ we] can proudly say we are the only licensed blockchain located poker employment in the market ,” CEO Ryan Gittleson said.” By are concerned with regulators to become a licensed online gamble fellowship, Virtue Poker now has legitimacy to crossover and compete for customers from bequest providers to return blockchain located gambling mainstream.”
Phil Ivey’s frontman role continues
Ivey, the 10 -time WSOP bracelet winner, is still a key promotional part of the Virtue Poker. He also owns a stake in the startup and is among an increasing number of prominent pros to dive headfirst into the crypto-gambling scene.
“I’ve been working with the Virtue Poker team for nearly three years, watching them build a next generation poker platform, ” Ivey said. “Using a blockchain based structure generates a more secure and globally accessible remittance organization. I’m agitated to continue my partnership with the Virtue Poker team and work to bring the programme to poker parishes worldwide.”
Back in 2017, Virtue Poker announced its partnership with Ivey, in a character that’s remained largely unchanged since. The website too had two other well-known pros, Brian Rast and Dan Colman, as part of the startup. Colman remains part of the Virtue Poker lineup, but Rast has since been substituted by Matt Berkey as an advisor and site representative.
Virtue Poker’s long road to marketplace
Virtue Poker has traveled a roundabout course as it nears its official start. Founder Joe Lubin caused Virtue Poker back in 2016 as part of his ConsenSys family of Ethereum-supported business jeopardizes, but the project has had to weather changing market conditions and a hectic arena of struggled online-poker and online-gambling startups — virtually all of which have flunked — while creating a secure platform that also pleas to online players.
Competition comes from existing online-poker corporations as well. Many sites founded on traditional fiat monies( e.g .: the US dollar) often now volunteer virtual monies as alternative sediment/ withdrawal methods, and a few cases, such as the Bodog family of symbols, actively peculiarity such cryptocurrency directs. It’s hard for any brand-new musician to gain ground against established competition.
Virtue Poker will too face the same sort of regulatory pressure that online-poker places must direct. Virtue has already announced a large number of countries where its services will not be available. The roll includes most of western and northern Europe, along with Australia, the United Country, and various other jurisdictions.
Nonetheless, the project remains on track to at last go live, with its statement detailing how an upcoming” mainnet propel” will allow real-money action to begin. That’s the technical term for being able to write musicians’ Ethereum monies/ withdrawals to the blockchain, which acts as a world-wide online tracking mechanism.
Virtue’s promotional acts are gaining impetu. The website has been running giveaway affairs since early this year, and the launch will be accompanied by an exhibition tournament involving Ivey, Lubin, and others.
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