Virtue Poker, the decentralized poker platform built on top of the Ethereum blockchain, will hold an initial DEX offering (IDO) on SuperStarter. The announcement follows a successful round in which VP closed funding worth $5 million.
Virtue Poker to Hold an IDO
Founded in 2016 within ConsenSys, Virtue Poker is an Ethereum-based decentralized poker platform enabling peer-to-peer networking aiming to operate as an “online poker site that’s safe, honest, and fund.”
After a few years of development, the project announced the upcoming IDO in a press release shared with CryptoPotato earlier. The statement reads that VP has partnered with SuperFarm’s recently released launchpad SuperStarter.
Apart from handling the IDO procedures, SuperFarm will be involved in other initiatives following the event, such as integrating non-fungible tokens into Virtue Poker.
“We are excited to be helping spread NFT adoption to new types of ecosystems and use cases. Virtue Poker makes for an excellent partner for our recently introduced SuperStarter platform, showcasing its enormous benefits to the SuperFam community and the high caliber of projects wishing to integrate NFTs in their stack.” – commented Elliot Wainmann – Founder of SuperFarm.
According to the announcement, VP will put a small portion of its native coin (VPP) for sale on SuperStarter. Future token holders can stake their assets to run Justice Nodes and earn 50% of the platform’s fees.
Additionally, they will access marketing initiatives, save on fees, and “shape the development of the Virtue Poker platform.”
Ryan Gittleson, Founder and CEO of VP, noted that his project was built on Ethereum because the latter enables the creation of a “provably fair and easy-to-access poker platform,” which could be “revolutionary for the multi-billion-dollar online poker industry.”
Securing $5M Funding
Before the IDO announcement, Virtue Poker completed a strategic investment round of $5 million in April 2021. Apart from Consensys, other prominent names that took part included Pantera Capital and DFG Group.
Furthermore, the statement highlighted that the Poker Hall of Famer Phil Ivey is a stakeholder and a spokesperson for the project.
Virtue Poker also touched upon the license it received from the Malta Gaming Authority. After working together for “nearly two years in establishing a regulatory framework,” VP became the “first and only blockchain-based company” to receive such a license from MGA.