In keeping with an announcement on Monday, Ethereum infrastructure firm ConsenSys and enterprise capital fund Pantera Capital led a bunch of buyers in a $ 5 million spherical of funding for Advantage Poker.
Different contributors within the strategic funding spherical included blockchain funding outfit DFG and FunFair founder Jez San.
Advantage Poker, an Ethereum-based decentralized poker platform, was based in 2016 inside the ConsenSys suite of blockchain initiatives. In 2020 the corporate obtained a B2C – Gaming Service License from the Malta Gaming Authority.
The $ 5 million funding shall be used to kick-start the mainnet blockchain poker platform launch scheduled for Might 2021. The mainnet launch comes after 4 years of growth and two years of beta testing.
In keeping with Ryan Gittleson, CEO of Advantage Poker, the corporate's standing as a licensed operator supplies an acceptable platform for gamers to problem legacy suppliers. In keeping with Gittleson, Advantage Poker will take the lead in making crypto betting mainstream.
Commenting on the $ 5 million funding spherical and plans to launch the mainnet platform, ConsenSys founder Joe Lubin famous:
“I’m delighted to see the Advantage Poker workforce fulfill its mission of bringing transparency and belief to the web poker business. By working with regulators to turn out to be the primary licensed blockchain-based platform, Advantage Poker legitimizes using this know-how in the long run sooner or later. "
Poker legend Phil Ivey, an organization ambassador, additionally commented on the progress of the undertaking, stating that Advantage Poker will play a "huge function" in the way forward for poker.
Poker and the crypto area have one storied history with Bitcoin (BTC) creator Satoshi Nakamoto, together with pieces of code for an internet poker sport within the first iteration of the Bitcoin code.
In April 2020, crypto charity The Giving Block teamed up with many business stakeholders to create a online poker game elevate cash for non-profit organizations that assist battle the coronavirus.