Crypto-Focussed, Phil Ivey-Fronted Virtue Poker Ready for Real-Money Launch in May

Crypto-Focussed, Phil Ivey-Fronted Virtue Poker Ready for Real-Money Launch in May

It’s been a long road from thought to perfection for the cryptocurrency-based online poker site Virtue Poker, with Phil Ivey still in place as its passing spokesplayer, and a pending real-money launch slated for next month.

Phil Ivey Virtue Poker

For three and a half times, Phil Ivey has promoted an online poker room that didn’t actually exist. That will soon change with Virtue Poker’s planned May launch.( Persona: Twitter/ PhilIvey)

Poker Hall of Famer Ivey has been the face of the blockchain poker assignment since his own” Ivey League” initiative closed its doorways in 2017.

Virtue’s announcement of the scheduled May launch came on Monday amid an investment-themed press release in which Virtue’s corporate parent, ConsenSys, declared that it had successfully completed its latest money round, growing an additional$ 5 million in investment capital.

One of the site’s major selling tops is that it will be a decentralized online poker stage: musicians will money their own bankroll wallets independently and will retain control over whatever virtual funds are not actually in play at a generated table or in a tournament, removing any potential threat of corporate crime from the site’s coffers.

Virtue’s recent presser also 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 gamble opportunities.

“After years of consultation, in person joins, and act,[ we] can proudly say we are the only licensed blockchain located poker application in the market ,” CEO Ryan Gittleson said.” By are concerned with regulators to become a licensed online gambling fellowship, Virtue Poker now has legitimacy to crossover and compete for customers from legacy providers to deliver blockchain based wagering mainstream.”

Phil Ivey’s frontman persona continues

Ivey, the 10 -time WSOP bracelet winner, is still a key promotional part of the Virtue Poker. He too 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 arrangement makes a more secure and globally accessible payment system. I’m roused to continue my partnership with the Virtue Poker team and work to bring the pulpit to poker parishes worldwide.”

Back in 2017, Virtue Poker announced its partnership with Ivey, in a capacity that’s remained largely unchanged since. The locate also 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 locate representative.

Virtue Poker’s long road to busines

Virtue Poker has traveled a roundabout itinerary as it nears its official propel. Founder Joe Lubin appointed Virtue Poker back in 2016 as one of the purposes of his ConsenSys family of Ethereum-supported business projects, but the project has had to weather changing market conditions and a busy orbit of attempted online-poker and online-gambling startups — almost all of which have disappointed — while creating a secure platform that also pleas to online players.

Competition comes from existing online-poker business as well. Many places founded on traditional fiat monies( e.g .: the U.s. dollars) often now render virtual monies as alternative money/ withdrawal methods, and a few cases, such as the Bodog family of firebrands, actively aspect such cryptocurrency paths. It’s hard for any new participate to gain ground against established competition.

Virtue Poker will also face the same sort of regulatory pressure that online-poker websites must handle. Virtue has already announced a large number of countries where its services will not be distributed. The listing includes most of western and northern Europe, along with Australia, the United Position, and several 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 technological word for being able to write musicians’ Ethereum lodges/ withdrawals to the blockchain, which dishes as a world-wide online tracking mechanism.

Virtue’s promotional struggles are gaining force. The locate has been running giveaway affairs since the beginning of this year, and the launch will be accompanied by an exhibition tournament involving Ivey, Lubin, and others.

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