TA’ XBIEX, Malta–(BUSINESS WIRE)–Virtue Poker, a multi-chain, Ethereum-based decentralized poker platform has now accomplished a strategic funding spherical of $5 million. Advantage Poker was a part of Coinlist’s Seed Winter 2021 Batch and is funded by notable traders, together with Pantera Capital, Consensys, DFG Group, Jez San from FunFair. Poker Corridor of Famer Phil Ivey is a stakeholder in addition to a public spokesperson for the corporate.
“I’ve been working with the Advantage Poker group for practically 3 years, watching them construct a subsequent technology poker platform” mentioned Phil Ivey. “Utilizing a blockchain primarily based system creates a safer and globally accessible fee system. I’m excited to proceed my partnership with the Advantage Poker group and work to convey the platform to poker communities worldwide”.
Advantage Poker is the primary and solely blockchain-based firm to be issued a license by the Malta Gaming Authority. The Advantage Poker group and the Malta Gaming Authority labored collectively over practically two years in establishing a regulatory framework appropriate for blockchain primarily based playing functions. The corporate can now legally function and compete in most international markets worldwide to ship the promise of truthful taking part in and transparency to mainstream adoption.
“After years of session, in particular person conferences, and energy – Advantage Poker can proudly say we’re the one licensed blockchain primarily based poker software available in the market” mentioned CEO Ryan Gittleson. “Blockchain know-how gives trendy and safe fee infrastructure that gives international accessibility to shoppers, in contrast to our opponents. By working with regulators to develop into a licensed on-line playing firm, Advantage Poker now has legitimacy to crossover and compete for purchasers from legacy suppliers to convey blockchain primarily based wagering mainstream.”
The funds raised might be used to bootstrap Advantage Poker’s mainnet launch, which is scheduled for Could 2021. Advantage Poker might be internet hosting an exhibition event with gamers like Phil Ivey, Joe Lubin and others because the official launch.
One of many oldest tasks within the blockchain house and one of many first to have been incubated by Consensys, Advantage Poker was based shortly after the Ethereum community debuted. Consensys founder Joe Lubin recognized on-line playing as an trade that was ripe for blockchain disruption, prompting him to take Advantage Poker into his Ethereum-centered household of tasks.
“I am excited to see the Advantage Poker group understand its mission in bringing transparency and belief to the web poker trade” mentioned Joe Lubin, Founding father of Consensys. “By working with regulators in turning into the primary licensed blockchain primarily based platform, Advantage Poker legitimizes using this know-how within the trade long run going ahead.”
By way of a mixture of P2P networking and the verifiable nature of blockchain, Advantage Poker brings an unprecedented diploma of belief and transparency to the web poker trade, which is regarded as tormented by shady and dishonest algorithms and dear third-party fee processor middlemen, particularly for withdrawals. Advantage Poker makes use of each Ethereum sensible contracts and sidechain infrastructure to offer next-generation safety and transparency for gamers.
About Advantage Poker
Advantage Poker is a decentralized poker platform that makes use of the Ethereum blockchain and peer-to-peer networking to offer an internet poker web site that is protected, trustworthy and enjoyable. It was based in 2016 inside Consensys, the main full stack Ethereum software program engineering firm and incubator based by Ethereum co-founder Joe Lubin in 2014. Backed by Consensys and stakeholder Phil Ivey, Advantage Poker is on a mission to make blockchain-based betting mainstream.
Study extra: https://virtue.poker/