ConsenSys Project Virtue Poker Raises $5M Ahead of Mainnet Launch

The Ethereum project is expected to launch in full in May.

AccessTimeIconApr 12, 2021 at 1:50 p.m. UTC
Updated May 9, 2023 at 3:18 a.m. UTC

Decentralized gambling platform Virtue Poker has raised $5 million in a strategic investment round.

  • Ethereum-based Virtue Poker plans to conduct an initial DEX offering (IDO) ahead of its mainnet launch in May, the startup announced Monday.
  • The project was incubated by blockchain developer ConsenSys and counts Pantera Capital and DFG Group among its backers.
  • Virtue Poker claims to be the only blockchain-based company to be licensed by the Malta's gambling regulator.
  • The platform aims to use smart contracts and sidechain infrastructure to bring greater transparency to online gambling with regard to withdrawals and other functions.
  • According to ConsenSys founder Joe Lubin, Virtue Poker “legitimizes the use of this technology in the industry.”
  • "I've been working with the Virtue Poker team for nearly three years, watching them build a next-generation poker platform," poker pro Phil Ivey said in a press release.
  • It’s among a crop of startups exploring gambling use cases on the blockchain, including a casino in Decentraland hiring real-life workers to staff virtual tables.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.