After a 15 year streak by the Department of Justice (DOJ), poker fans in the US now have access to the global market. Virtue Gaming has launched the first play-to-earn (P2E) offering in the country.
The Blockchain is a way to revive the poker field in the USA
Blockchain technology is the backbone of Play-To-Earn’s business model. Record-breaking valuations exceeding $2 billion have been achieved by some of the most popular titles, including the Pokemon-inspired, blockchain-based Axie Infinity.
Virtue Gaming is aiming to revitalize the US poker market by connecting players with the rest of the globe through a legal player pool that uses the P2E model. Real money will be available to players in licensed jurisdictions. This puts an end to the notorious Black Friday streak when Pokerstars and Ultimate Bet were shut down by the DOJ.
Only poker sites operating in the US continued to operate, while larger regulators fled the country. This led to a sharp decline in online poker worldwide. Virtue Gaming’s patent-pending P2E gaming approach will help to boost the online poker market.
Online poker at the Forefront in the P2E Economy
Virtue Gaming operates alongside a Virtue Poker sidechain using a number of Ethereum-based smart contract. This makes Virtue Gaming a peer-to-peer, decentralized online poker site. It offers cash games and multi-token wagering, giving players access to an array of ERC-20 tokens to wager on their winnings. Smart contracts also allow them full control over their money.
Users can sign up for the P2E model to receive 500 Virtual Player Points (or VPP) worth approximately $147.30.
“Virtue Poker has been at the forefront in the play-to earn economy. Joe Lubin, Consensys founder, stated that by connecting the US market with the rest of the globe, the opportunities to create the first legalized global player pool are nearly limitless.
Virtue Gaming was founded in 2016 by Consensys, a blockchain software company that Joe Lubin co-founded. It is also supported by professional players Phil Ivey and Dan Colman.
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