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ConsenSys-backed poker platform secures $5M funding

04/12/2021

consensys-backed-poker-platform-secures-$5m-investment

The injection of further funding will likely be used to facilitate Advantage Poker’s mainnet launch slated for Might 2021.

Ethereum infrastructure agency ConsenSys and enterprise capital fund Pantera Capital have led a gaggle of buyers in a $5-million funding spherical for Advantage Poker, in line with an announcement on Monday.

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 again in 2016 throughout the ConsenSys suite of blockchain initiatives. Again in 2020, the corporate secured a B2C — Gaming Service License from the Malta Gaming Authority.

The $5-million funding will likely be used to bootstrap the mainnet launch of the blockchain poker platform scheduled for Might 2021. The mainnet launch comes after 4 years of growth and two years of beta testing.

In accordance with Ryan Gittleson, CEO of Advantage Poker, the corporate’s standing as a licensed operator gives an acceptable platform to problem legacy suppliers for gamers. In accordance with Gittleson, Advantage Poker will lead the cost to make crypto wagering mainstream.

Commenting on the $5-million funding spherical and the plans to launch the mainnet platform, ConsenSys founder Joe Lubin remarked:

“I’m excited to see the Advantage Poker staff notice its mission in bringing transparency and belief to the web poker business. By working with regulators in turning into the primary licensed blockchain-based platform, Advantage Poker legitimizes using this know-how within the business long-term going ahead.”

Poker legend Phil Ivey, an envoy for the corporate, additionally commented on the challenge’s progress, stating that Advantage Poker will play a “main half” in the way forward for poker.

Poker and the crypto area have a storied historical past with Bitcoin (BTC) creator Satoshi Nakamoto, which incorporates scraps of code for a web-based poker sport within the first iteration of the Bitcoin code.

Again in April 2020, crypto charity outfit The Giving Block partnered with many business stakeholders to arrange a web-based poker sport to boost funds for nonprofits serving to to fight the coronavirus.

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