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- Virtue Gaming launched its Play-to-Earn cryptocurrency model poker game
- The game is the first Play-to-Earn model betting game of its kind
- The P2E model game has been built on the Ethereum blockchain network
Virtue Gaming is a blockchain-based poker game backed by ConsenSys, the firm behind Ethereum blockchain. The betting platform, being one of its kind, has received its license by the Malta Gaming Authority. The project aims to revive our online gaming community that was dormant since the 2006 Unlawful Internet Gaming Enforcement Act by integrating them into the same network. Recently, it has been announced that the platform has launched its Play-to-Earn cryptocurrency model poker game to the players in the United States.
Virtue Gaming brings first decentralized poker casino
Virtue Gaming, the platform that is backed by World Poker Tour champion and professional poker celebrity Phil Ivey made a huge announcement on Friday. The project has established a decentralized online poker platform in the United States, that is built on the Ethereum blockchain network. Notably, the game is the first Play-to-Earn model betting game of its kind.
US residents cannot access poker platforms
It is worth noting that in the region only six states have yet legalized and are regulating online poker games. Such places include Nevada, Delaware, New Jersey, Pennsylvania, West Virginia, and Michigan.
The main concern of the nation to act on the subject is that international platforms would take revenue away from domestic, offline land-based venues. Hence, the listed platforms are required to first obtain licenses from each individual jurisdiction before they commence operating in the particular state.
Hence, the local residents in the nation cannot typically access any popular platforms including PokerStar or 888 Poker that are available for the rest of the world.
Proposal for the P2E setup
Following the scenario in the US, Virtue Gaming proposed a Play-to-Earn setup. According to the announcement, the latest gaming platform provides 500 Virtual Player Points (VPP) that are worth $147.37. However, the betting lovers will be receiving the amount for free when they sign up.
According to ordinances, points or credits that the game sponsors to participants free of cost could only be redeemed for participation in games or contests offered by the sponsor.
After a player meets the minimum playtime requirement, they would be allowed to cash out the tokens for USDT. Hence, US players would also be able to compete with players globally who transfer VPP, ETH, or other cryptocurrency into the platform’s locked sidechain smart contracts to stake in the game.
