Coindesk Logo
FinanceFinanceFinance

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

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

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

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

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

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

By Jamie Crawley
AccessTimeIconApr 12, 2021, 1:50 PM
Updated May 9, 2023, 3:18 AM
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

STORY CONTINUES BELOW

Recommended for you:
Read more: This Casino in Decentraland Is Hiring (for Real)

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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 consensus.coindesk.com to register and buy your pass now.

Read more about
GamblingGamingPokerEthereumConsenSys