Have you ever wondered about the intersection of the poker world and the realm of cryptocurrencies? A man named Ryan Gittleson has been pondering this question for years. His ambition to unite these two spheres led to the creation of Virtue Poker, a company that he founded back in 2016. The aim? To decentralize online poker using Ethereum’s robust software, a vision that was supported by ConsenSys, a heavyweight in the Ethereum software arena.
Setting the Stage for Virtue Poker
After securing a hefty sum of $12.5 million through a token sale in 2018 and an additional $5 million in funding in 2021, the road seemed paved for Virtue Poker. However, translating Gittleson’s dream of an on-chain poker experience into reality proved to be a challenging task. A couple of hurdles stood in the way. Firstly, layer-2 Ethereum scaling networks were not yet advanced enough to facilitate in-game transactions swiftly and economically. Secondly, the legal implications of running an unlicensed online gambling ecosystem in the US and most of Europe were simply too significant to ignore.
Overcoming the Obstacles
Not one to be deterred, Gittleson and his team persevered. They obtained a gaming license from Malta, a small island nation, and launched a legal, play-to-earn poker game in the US. Despite these efforts, the company found it challenging to engage and retain users. Last summer, Virtue Poker seemed to be on the verge of folding, with its website going offline.
Fast forward to today, and Virtue Poker is back, stronger and more innovative than ever. Gittleson has reimagined Virtue Poker, maintaining its commitment to leveraging the potential of crypto to revolutionize poker for the digital era.
Connecting NFT Communities through Poker
The reinvigorated Virtue Poker has a unique focus: connecting NFT communities. It no longer facilitates in-game gambling of fiat money or cryptocurrency. Instead, it provides a platform for clubs and organizations worldwide to host their own online poker games and tournaments. The company has now made it possible for NFT communities to restrict games to token holders, thus fostering a sense of exclusivity.
While the platform currently operates for free, Gittleson plans to introduce a monthly subscription fee for club organizers in the future, based on membership and usage. NFT communities can encourage members to participate in Virtue tournaments by offering NFTs and fungible tokens as prizes. Despite potential legal complications, Gittleson insists that the platform is legal as it does not handle money directly.
As it stands, Virtue supports Ethereum and the scaling network Polygon, Solana, and the BNB Smart Chain, with plans to expand to additional blockchains in the future. To mark the platform’s re-launch, Gittleson is hosting a private multi-table tournament for holders of Virtue’s original token, VPP, with the winner set to receive $500 USDT.
For those interested in tracking the progress of Virtue Poker and similar ventures, tools like cryptoview.io can provide valuable insights and updates. This platform allows users to monitor the evolution of the crypto market, making it an essential tool for anyone involved in the crypto world.
