Ethereum-based decentralized poker platform, Virtue Poker, has just completed a strategic investment round of $5 million.
Virtue Poker is one of the projects listed in Coinlist’s Seed Winter 2021 Batch. Notable groups and individuals like Consensys, Pantera Capital, DFG Group and Jez San of FunFair are among the investors funding this project. Famed professional poker player Phil Ivey happens to be a stakeholder and a public spokesperson for Virtue Poker.
“I’ve been working with the Virtue Poker team for nearly 3 years, watching them build a next generation poker platform,” said Ivey. “Using a blockchain based system creates a more secure and globally accessible payment system. I’m excited to continue my partnership with the Virtue Poker team and work to bring the platform to poker communities worldwide.”
Virtue Poker is the first and only blockchain-based company that is licensed by the Malta Gaming Authority. Virtue Poker and Malta Gaming Authority have been collaborating since nearly more than two years ago, focusing on establishing a regulatory architecture that is appropriate for blockchain-based gambling applications. Virtue Poker is currently authorized to operate and deliver a gambling experience that promotes fair play and transparency.
The funds will be used to support the launch of Virtue Poker’s mainnet, which is set to occur in May 2021. By then, the company will be hosting an exhibition tournament with players like Phil Ivey, Joe Lubin and more participating in the event.