The crypto and blockchain space is maturing at a rapid pace. Most financial industry experts agree that this nascent industry is here to stay because there are many different use-cases emerging for blockchain-enabled platforms.
In addition to the rise of Bitcoin (BTC) as a widely accepted medium-of-exchange and store-of-value, Ethereum (ETH) has become a globally recognized name in the crypto space. Large corporations such as Visa have acknowledged Ethereum’s role in the future of finance and its ability to support a wide range of other applications.
A growing number of online platforms have also been deploying solutions on Ethereum, despite its relatively slow transaction speeds. Even though there are many other blockchains that outperform Ethereum in terms of transactions per second (TPS) and cheaper transaction costs, they do not have the same powerful network effect that Ethereum has been able to acquire. There are also many Ethereum scaling solutions such as Polygon that will aim to make the leading smart contract platform a lot more efficient in the foreseeable future.
Yet Another Ethereum-powered Platform
Virtue Poker, a decentralized platform developed on the Ethereum (ETH) blockchain, reveals that it will be holding a Celebrity Charity Poker Tournament, which will be taking place on September 26, 2021.
The charity poker tournament participants will reportedly include Hall of Fame (HOF) poker player, Phil Ivey, former NBA all-star Paul Pierce, YouTube’s superstar Mr. Beast, TRON blockchain founder and serial crypto entrepreneur Justin Sun, Hollywood actor and accomplished filmmaker Vince Vaughn, Polygon Co-Founder Sandeep Nailwal, and Ethereum Co-Founder and ConsenSys founder Joe Lubin.
The Binance Mysterybox Collection
To commemorate this special event, the Virtue Poker team plans to launch a Binance MysteryBox collection, starting on September 23, 2021 – representing each card in a typical 52 card deck. Collectors who possess the winning hand for each knockout during the Celebrity Event will get a chance to win prizes ranging from $2,500 to a $25,000 reward for the top prize.
Participants need to purchase two mystery boxes in order to assemble a hand. The participants can then trade with each other so that they can assemble the best poker hand through the secondary market.
The Mystery box will reportedly include an Ace of Spades that will come with Phil’s digital signature and a $5,000 prize.
All participants with completed hands can compete and have an opportunity to win:
A $2500 price for the winning hand for each knockout. If multiple players own the hand, then the $2500 prize will be split equally among all the winners. Furthermore, the player who possesses the championship knockout hand will be able to claim a $25,000 prize.
If more than one player is holding the championship knockout hand, then only 1 player will be randomly selected to claim the reward
Participants are able to collect as many as (50) completed hands (100 boxes). Participants must also HOLD the winning hand in their Binance account to be eligible for the rewards. Winning players should email email@example.com for confirmation.
Virtue Poker will also hold a freeroll tournament where ALL holders of (2) mystery boxes should be getting exclusive access to participate in a $10,000 free-roll tournament on the Virtue Poker platform.
Virtue Poker NFT holders need to send a message to firstname.lastname@example.org with their UID and NFT screenshot to obtain the Virtue Poker referral code.
Supporting NFT Use-Cases
The Virtue Poker team is looking forward to hosting their Celebrity Tournament and are focused on offering a truly unique NFT experience for their viewers that plan to tune in. Through their partnership with leading crypto exchange Binance, they plan to support the adoption of the Virtue Poker platform and also that of NFTs. They’ve decided to take this step to show that there’s yet another real-world use case for non-fungibel tokens or digital collectibles: interacting through a live event.
The team has also thanked the Virtue Poker community for their support of their platform as they continue to expand their ecosystem in the nascent blockchain-enabled gaming industry.
As noted in the announcement, Virtue Poker is described as a decentralized poker platform that leverages the Ethereum blockchain as well as P2P networking to offer an online poker platform that is safe, “honest” and fun. It was established in 2016 within New York-based Consensys, the leading Ethereum development studio and incubator launched by crypto billionaire and Ethereum co-founder Joe Lubin back in 2014.
Backed by Consensys and stakeholder Phil Ivey, Virtue Poker aims to make blockchain or distributed ledger tech (DLT)-powered betting mainstream.