What will VPP be used for going forward?
VPP holders will have access to freerolls that Virtue Poker will run during its initial beta launch. In addition, VPP holders will be invited to future tournaments that will be co-hosted with our new partners.
In the future, VPP may be required to create poker tables, tournaments and clubs with the VPP tokens being burned.
Will there be any P2E component to Virtue going forward?
No. Virtue Gaming has been shut down permanently and there are no plans to launch play-to-earn in the future. However, Virtue has a new partnership with another company that runs P2E poker competitions. Interested players will be able to compete to receive NFTs to compete in our partners P2E poker economy.
What about the Poker Dog NFT avatars?
Virtue announced its intention to launch NFT avatars in early 2022. At the end of May 2022, it allowed users who had accumulated GOLD to redeem their GOLD as a pre-purchase for NFT avatars that would provide various perks to holders, including bonus chips for the upcoming P2E promotion. All users who pre-purchased NFTs received their chips bonus and perks for the final P2E promotion which allowed users to accumulate GOLD that they redeemed for USDT.
However, there no longer are plans to utilize Poker Dog NFTs as part of a P2E gaming experience. In addition, market conditions for NFTs are at an all-time low, and Virtue Poker doesn’t have the resources to provide any significant benefits to NFT owners currently.
Therefore the mint for Poker Dogs will be delayed indefinitely. Virtue still plans on launching its Poker Dog NFT avatars. All of the artwork is completed. And once the mint is complete, Poker Dog NFT holders will be invited to join an exclusive private club on Virtue Poker.
What will happen to GOLD balances from the previous application?
GOLD was the internal bonus token that players earned for competing in P2E competitions. Players received GOLD mostly for their freeplay on the platform. Given the fact that Virtue Poker no longer has a P2E experience, all GOLD accrued from previous promotions will not carry over to the new Virtue Platform and will have no value going forward. GOLD balances from the previous platform will not be redeemable for USDT, however may be redeemed for NFT avatars in the future when Virtue moves forward with its NFT mint.
Will Virtue Poker ever run real-money games? What about the gaming license?
Virtue Poker will not run any traditional licensed real-money games on the platform going forward. However, Virtue Poker has partnered with another company that will be launching real-money games under its gaming license. All interested players will be able to receive referral codes and be able to compete in real-money games with our new partner. An announcement will be made regarding this partnership in the future.
Will previously geo-blocked beta players receive VPP tokens?
All geo-blocked players who were previously excluded from receiving VPP tokens will receive their VPP beta tokens in full. Payouts will commence over the next few days.
Below mentioned are the steps to claim your tokens:
- Send an email to support@virtue.poker from your registered email id mentioning your display name and the wallet address where you'd like to receive the VPPs
- Support team to review the details and approve
- Payouts to be done in batches
What happened to P2P shuffling and the Virtue sidechain?
Virtue Poker’s old platform has been shut down. P2P shuffling, while an innovative feature, created an immense amount of complexity that led to simple features taking months instead of weeks to complete. The Virtue Poker sidechain has also been closed down and all player funds have been returned to players. If you believe you have a remaining balance in either ETH or VPP that was not returned to you, please contact support@virtue.poker. Players must complete KYC in order to receive a refund.
Who is the new team behind Virtue Poker?
All previous team members from Virtue Poker with the exception of our support staff, and our head of game security were let go from the company in 2022.
Our new team is supported by Monadical, a software development company founded by a former poker professional, Max McCrea, who had already built a web-based poker platform. The software foundation of Virtue was carefully built over years by people who were both passionate about poker, and were strong software engineers. Since our partnership in November 2022, Monadical has been building the new Virtue Poker platform on top of this core foundation.
What does Virtue Poker’s funding runway look like?
Virtue Poker reduced its burn rate by over 80% in June 2022, and reduced it an additional 30% in March 2023. While the company is not on the brink of bankruptcy, it will need to raise additional funds within the next 6-12 months in order to continue to survive and grow.
This financial reality is one reason why Virtue Poker shifted its business model away from both play-to-earn and real-money gaming.
Will Virtue Poker run marketing promotions for the community similar to the promotions from 2018 - 2022 going forward?
No. Virtue will no longer be running large months-long marketing promotions with guaranteed prizes. Our company business model has shifted away from real-money gaming and P2E game types that required these types of promotions to grow the player base. In addition, after analysis, most of these promotions were “farmed” by bonus hunters who only used the platform to extract as much value from these promotions. The gameplay volume on Virtue Poker dropped 99% when there were no active promotions, and most of these players never deposited their own funds to play to compete.
Does the platform have a certified RNG?
Currently, no. We will get our RNG certified by Gaming Labs International (GLI). Our shuffling algorithm is Fisher-Yates with linux's /dev/random as its source of entropy.
Is Phil Ivey still on the advisory board?
Phil Ivey is no longer officially associated with Virtue Poker. Phil had competing offers for public sponsorship that Virtue could not afford, however we still maintain a strong relationship with him and plan on working with him in the future. Phil remains a stakeholder in the company.
With VPP being used for token-gated events, is there any change to the token economy? Also are there any plans for staking?
Yes. VPP no longer will be used as part of any staking program and the Justice Program has been deprecated along with the P2P shuffling component of the old application. Additional updates to VPP’s utility may be made in the future.
Who can play on the new platform?
There are no geo-restrictions on our new platform. Anyone and everyone is welcome to come play.