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Dan Colman and Brian Rast have joined Virtue Poker, a cryto-currency poker room set to launch for real money in the middle of 2018. Convert Virtue Poker (VPP) to US Dollar (USD). 🔥 Out Now 🔥 Our 2020 Yearly Crypto Report is fresh off the press! Read it first and understand the state of cryptocurrency in 2020 - from the rise of DeFi to Bitcoin’s bull run and much more!

Virtue Poker, a poker network built on blockchain technology around the cryptocurrency Ethereum, is readying for its April 25 token sale and has released a breakdown of some key numbers regarding their proprietary token.

Virtue Poker Points, or VPPs, will be the token of choice for token buyers and users on Virtue Poker, although U.S. residents can't partake in the initial sale. The VPPs can be used in three ways, as outlined by PokerNews in a recent piece:

• Used as an in-game currency at the poker tables
• Used to access special tournaments including freerolls and satellites
• “Locked” in a smart contract called the Justice Registry that enables users to stake tokens and validate hands on the network in exchange for fees from players

While that last point may be a bit confusing to users, it's part of Virtue Poker's unique system of monitoring tables and ensuring fair play. More can be learned through the Virtue Poker white paper.

Mechanics of the Token Sale

The April 25 token sale will see 100 million VPPs distributed to token buyers. That represents 20 percent of the 500 million total VPPs that will be minted by the Virtue Poker team.

Token buyers can purchase the VPPs by submitting Ethereum to a contract address once the sale begins. Ethereum can only be sent from compatible wallets — Metamask, MIST and Gnosis were identified by the Virtue team — and not exchanges.

The sale will last either two weeks or when $12.5 million worth of Ethereum has been raised, whichever comes first. At that point, the total amount raised will determine the final price per token. Depending on the windfall, it will be between a high of $0.125 if the hard cap is reached and $0.06 if the soft cap is reached.

Proceeds will then be used in the following manner:

• 40 percent used for platform development
• 40 percent used for marketing
• 10 percent for legal costs
• 5 percent for consultants
• 5 percent for business development and partnerships

Virtue Poker's Upcoming Debut

The early adopter token sale on April 25 is the first chance for the public to get hold of VPPs, and a significant chunk of the planned total VPPs will be available. Users who are in on the ground floor will get the chance to participate in alpha and beta testing after getting their hands on their shares of the 100 million tokens.

Just a few weeks remain, and with the likes of Phil Ivey coming aboard the Virtue team, industry observers will be watching closely to see if poker and cryptocurrency could form a strong base for a new player in the online poker world.

Learn about Virtue Poker in the video below:

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  Online Pokercryptocurrency poker roomVirtue PokerPhil Ivey

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  Phil Ivey

Wednesday, November 4 is Day 1 of the Virtue Poker Mainnet Launch Test. During the Launch test, we will offer only Sit & Go tournaments at denominations from 0.025 ETH to 0.1 ETH (roughly $10 to $40 at today’s ETH/USD price).

We have a lot of excitement planned for the next four weeks, during which we are giving away over 300 ETH and as many as 5 million VPPs (Virtue Poker Points, our token).

Our goals for the Launch Test are:

• Test the stability of the software in a real-money environment
• Build a baseline of player liquidity from our Beta player base
• Demonstrate the revenue-generating capability of the platform for the purpose of securing Justice staking nodes

After the test has concluded, our intent is to unlock our VPP token, distribute VPP prizes from previous betas and begin enlisting our Token Buyers as Justice nodes. Our plan is to first create liquidity on Uniswap to exchange VPP/ETH. We are in discussions about adding additional exchanges as we move forward.

The Virtue Poker team is grateful to all of our Token Buyers and previous Alpha and Beta participants who helped us get to this point. As we reach this milestone, we ask your help one more time by participating in our Launch Test so we can accomplish our goals and continue to expand and grow the platform.

The promotions below all start Wednesday, November 4 and run through December 6 except for the Weekly Leaderboard. The Leaderboard begins Monday, November 9 at 0000 UTC. Each Leaderboard week begins at 0000 UTC Monday and ends at 2359 UTC the following Sunday.

100% of the rake Virtue Poker collects during this Mainnet Launch Test is being returned to our players through these promotions (and we're adding even more).

Launch Week Promotions

Please note that there are playthrough requirements for all promotions - see the Promotion Rules for details.

• Drawings for 20 ETH. Make a deposit of at least 0.25 ETH by 2359 UTC Friday and we’ll enter you in 20 drawings for 1 ETH each. Qualify by earning just 1 Grinder Point (see the Grinder Bonuses section below).
• 10 ETH Sit & Go Freeroll. The first 36 players to deposit 3 ETH will win tickets into a special 2-stage SNG. If you win your first table, you’re in the money! Your second (and final) table has a prize pool of 10 ETH with 4 ETH to the winner. [NOTE: THIS OFFER IS NOW SOLD OUT.]
• Every weekday during our first full week (Monday, 10 November through Friday, 14 November) we will hold (5) drawings for 1 ETH each. All you need to do to qualify each day is earn at least 10 Grinder Points.

Deposit Bonus

• For every 1 ETH you deposit, you will receive a free bonus of 4,000 VPPs, which will be credited to your account before our full mainnet launch. Minimum deposit is 1 ETH and maximum is 3 ETH for this bonus.

Weekly Sit & Go Leaderboard

• You will receive points for every SNG you play, as shown on the Leaderboard Points Table in the Launch Test Promotion Rules.
• Each week, the top 4 players on the Leaderboard and 2 randomly chosen players will play in a SNG Semi-final. The top three players in each SNG Semi-final all win money, and the winner also wins an entry into the SNG Final Table. The fifth player for the SNG Final Table will be chosen at random from all players who earned at least 100 Grinder Points.
• The SNG Final Table is a 30 ETH Sit & Go with Virtue Poker Ambassador and WSOP Champion Phil Ivey. In addition to winning up to 10 ETH in the Sit & Go, the player who busts Phil receives an additional 1 ETH. And if that player wins, there is another 1 ETH bonus for a total potential first prize of 12 ETH. At today’s ETH/USD price, this is about $4,700!

Grinder Bonuses

For each Sit & Go you play, you earn Grinder Points as follows:

0.025 ETH: 1 point
0.050 ETH: 2 points
0.100 ETH: 4 points

You may redeem these points for one of the following Grinder Bonuses:

John Virtue Poker

• Grinder Bonus: The first 200 players to reach 100 points during the promo each receive 0.4 ETH and 2,000 VPPs.
• Super Grinder Bonus: The first 100 players to reach 200 points during the promo each receive 0.8 ETH and 5,000 VPPs.
• I Have No Life Grinder Bonus: The first 30 players to reach 400 points during the promo each receive 1.5 ETH and 8,000 VPPs.

We'd love to see you at the tables with us as we celebrate this exciting step towards launching for real money. Please join us and tell your friends!

Virtue Poker Review

All promotions are subject to the Launch Test Promotion Rules and the Virtue Poker Terms and Conditions.