Virtue Gaming is integrating play-to-earn technology into its poker player pool. The platform is targeting US users by connecting them to the global poker market. The launch comes after a 15-year ban on the global poker market by the Department of Justice (DoJ).
This will be the first play-to-earn feature that Virtue Gaming will be offering its users in the US.
Blockchain integration in US poker
Play-to-earn is a gaming business model that uses blockchain technology. Play-to-earn has attracted many gaming companies, with gaming features supported by this model amassing billions of dollars in valuation.
Virtue Gaming is now reviving its presence in the US poker market by connecting players to the global market. This will be done using a legal player pool that uses a play-to-earn model.
Play-to-earn models allow players to generate passive income. However, this gaming feature is not available in all jurisdictions. The DoJ initially banned three leading poker operators, namely Absolute Poker, Pokerstars and Ultimate Bet.
The ban limited poker websites to the US and players could not access the global poker market. This not only led to the closure of several poker operator businesses in the US, but it also had an impact on the global market.
The recent announcement by Virtue Gaming seeks to revive the sector and ensure that US poker players can also earn income through play-to-earn gaming.
The boom of play-to-earn platforms
Virtue Gaming is the latest operator in the gaming sector to launch play-to-earn offerings. Virtue Gaming uses Ethereum-based smart contracts. Some of the features that will be made available under this initiative include cash games with a multi-token wager. This will give users access to different ERC-20 tokens.
The founder of ConsenSys, Joe Lubin, commented on this launch stating, “Virtue Poker is at the forefront of the play-to-earn economy. By connecting the US market to the rest of the world, the opportunities for the first legally authorized global player pool are near limitless.”
Virtue Gaming was launched in 2016, and it is backed by ConsenSys, a leading blockchain software firm. The firm also has other independent stakeholders such as Brian Rast, Dan Colman and Phil Ivey, who are professional players.
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