Decentraland has made a strategic investment in decentralized autonomous organization (DAO) Decentral Games to support the project’s delivery of metaverse poker.
- The blockchain-based virtual world’s foundation has made an unspecified purchase of Decentral Games’ native token, $DG, according to an announcement shared with CoinDesk Thursday.
- The investment will support Decentral Games’ rollout of ICE Poker, a new metaverse-based poker game in which players earn money competing against each other and completing daily challenges.
- Players pay either $DG or ether to receive poker chips and a “wearable” – a non-fungible token (NFT) representing digital attire such as a suit and tie or dress shoes, akin to a dress code to enter a casino. Players can then play poker to earn $ICE tokens and the XP cryptocurrency, allowing them to mint rarer NFTs that earn higher rewards.
- The announcement came shortly after Decentral Games formed a similar strategic partnership with Polygon, in which the project behind an Ethereum-scaling product also invested an unspecified amount in Decentral Games to stake $DG tokens.
- Among Decentral Games’ investors is Digital Currency Group, the parent company of CoinDesk.
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.