Ethereum infrastructure company ConsenSys and undertaking capital fund Pantera Capital have led a bunch of traders in a $5-million investment spherical for Virtue Poker, consistent with a press release on Monday.
Other contributors within the strategic investment spherical incorporated blockchain investment outfit DFG and FunFair founder Jez San.
Virtue Poker, an Ethereum-based decentralized poker platform, was once based again in 2016 inside the ConsenSys suite of blockchain initiatives. Back in 2020, the corporate secured a B2C — Gaming Service License from the Malta Gaming Authority.
The $5-million investment might be used to bootstrap the mainnet release of the blockchain poker platform scheduled for May 2021. The mainnet release comes after 4 years of construction and two years of beta checking out.
According to Ryan Gittleson, CEO of Virtue Poker, the corporate’s standing as an authorized operator supplies an appropriate platform to problem legacy suppliers for gamers. According to Gittleson, Virtue Poker will lead the rate to make crypto wagering mainstream.
Commenting at the $5-million investment spherical and the plans to unlock the mainnet platform, ConsenSys founder Joe Lubin remarked:
“I’m excited to see the Virtue Poker team realize its mission in bringing transparency and trust to the online poker industry. By working with regulators in becoming the first licensed blockchain-based platform, Virtue Poker legitimizes the use of this technology in the industry long-term going forward.”
Poker legend Phil Ivey, an envoy for the corporate, additionally commented at the undertaking’s growth, declaring that Virtue Poker will play a “major part” at some point of poker.
Poker and the crypto area have a storied historical past with Bitcoin (BTC) author Satoshi Nakamoto, which contains scraps of code for a web based poker recreation within the first iteration of the Bitcoin code.
Back in April 2020, crypto charity outfit The Giving Block partnered with many business stakeholders to arrange a web based poker recreation to boost budget for nonprofits serving to to fight the coronavirus.