First off, I wanted to thank those who have participated in our P2E 2.0 launch by competing in our “Gold Mine” campaign.
We have had over 1000 players who have played for free to earn our GOLD reward coin.
GOLD Mine Analysis
The GOLD Mine promotion was a pilot promotion aimed at testing our new play-to-earn format.
Through this promotion - we have been able to achieve:
- Simplified User Onboarding: by providing new players who register accounts with 500 free-play chips, then presenting them with a Message of the Day and a simple challenge of completing 10 tournaments in a week, Virtue was able to double our monthly active users - with no external marketing.
- Flatter Reward Structures: by creating a leaderboard with over 300 players paid weekly - with a lower ceiling and higher floor than previous promotions, we have paid over 1000 players GOLD - with over 500 players receiving greater than 100 GOLD.
- Increase Daily Active and Monthly Active Users - by allowing all new and current users to immediately start playing with free-play chips, creating a low threshold to earn GOLD, and a flatter reward structure, our GOLD mine promotion was our first promotion where daily active users and monthly active users increased and did NOT fall off over time.
A common problem with nearly all online poker platforms is player churn. As mentioned previously, in order for sites to grow - players need to deposit more than they withdraw:
Deposits > (Rake + Withdrawals)
Currently - winning players withdraw at a greater rate than recreational players deposit. Also - recreational players churn far more quickly than winning players - so the model requires a constant stream of recreational players to survive.
Virtue’s play-to-earn model turns this equation on its head by providing value upfront to players and the ability to earn overtime - allowing our ecosystem of players to grow without the constraint of churn.
This model can be thought of as a global “freemium” model, whereby all players around the globe are invited to play for free to earn real money prizes through our play-to-earn game.
The next step in the evolution of this model is the introduction of real-money GOLD table games, and GOLD redemption for USDT and NFT avatars.
This week, players will have the opportunity to utilize their GOLD for the following:
- GOLD table games (real-money locations only)
- Redeem for NFT Avatar
- Redeem for USDT
GOLD Redemption Periods
Players can take advantage of one of all of these utilities - and players DO NOT have to redeem or use all of their GOLD. They are welcome to retain their GOLD in their accounts and continue to accrue GOLD during our next promotion.
Player A has earned 500 GOLD. He/she can choose to:
- Redeem 150 GOLD for an NFT avatar whitelist reservation
- Redeem 150 GOLD for 150 USDT
- Keeps 200 GOLD to play GOLD table games and promotions
In addition, if a player does not have enough GOLD to purchase an NFT avatar (for example has less than 150 GOLD) he or she can keep of their GOLD and wait until they earn enough GOLD during our upcoming GOLD bankroll builder promotion starting June 6th to redeem for USDT.
Virtue “Poker Dogs” NFT Avatars + “Piece of Ivey”
Virtue is pleased to announce our genesis mint of NFT avatars - in partnership with Virtue Team Pro, 10-time WSOP winner, Phil Ivey.
Our genesis mint will be limited to 500 NFTs that can be purchased in the Virtue application by redeeming 150 GOLD.
These NFTs are reserved for Virtue players on a first-come-first-serve basis. Meaning as soon as GOLD redemption for NFT Avatars opens on 3rd June, players can pre-purchase their NFT by redeeming 150 GOLD in the Virtue application.
And, all players are welcome to pre-purchase multiple NFTs avatars. Each individual player can purchase up to 5 NFTs.
Our sub-contracted design teamwork is hard at work producing our NFTs. We anticipate launching our full collection of NFTs prior to the end of summer. We will provide more information about the theme, and launch of our NFT collection in the ensuing weeks.
Virtue Avatars will have the following utility:
- 2000 chips Bonus: All players who exchange 150 GOLD for an Avatar will receive a one-time 2000 chip bonus
- VIP Access: Players with NFT avatars will be eligible to participate in exclusive events - including competitions to earn a spot to play in Celebrity Tournaments, and be invited to a private Discord channel where players can speak directly with Virtue's team pro’s and other celebrity partners.
- Digital Passport to Metaverse Poker: NFT avatars will be portable across Virtue's real-money and play-to-earn games in our Metaverse poker game (coming later this year).
“Piece of Ivey” in the 2022 WSOP Players Championship
In addition to the utility described below - one lucky pre-purchaser will receive a 1/1 “Phil Ivey” Poker Dog NFT that will include an authenticated digital signature from Phil Ivey himself.
This lucky purchaser will also receive a 5% stake in Ivey in the $50,000 buy-in WSOP Players Championship that begins on June 26th 2022. Last year the top prize for this event was nearly $1,000,000 - so the owner of the “Ivey NFT” has a chance to win up to $100,000!
Virtue will host a live drawing on June 22nd for all player accounts that have redeemed 150 GOLD to reserve their NFT. Players who pre-purchase multiple NFTs will receive multiple entries into the drawing.
Virtue’s “GOLD Bankroll Builder” Promotion
We are pleased to announce that we will be launching our “GOLD Bankroll Builder” promotion beginning on June 6th which will run through July 3rd 2022.
There will be over $20,000 in weekly GOLD prizes distributed to players who participate.
However, this promotion will be split into TWO weekly leaderboards, a SILVER TIER and a GOLD TIER:
All current players' chip balances will be reset to 500 chips. In addition, all new players who sign-up will receive 500 chips automatically after they complete registration.
All players will then have to complete 10 Sit and Go tournaments across two different buy-in levels to place on the two weekly leaderboards.
The SILVER TIER leaderboard is calculated based on 6-max NLHE and PLO turbo Sit and Go tournaments with a 25 chip buy-in with 5,000 GOLD in weekly prizes.
The GOLD TIER leaderboard is calculated based on 4-max NLHE and PLO turbo Sit and Go tournaments with a 250 chip buy-in with 15,000 GOLD in weekly prizes.
How to Get Chips
Players can receive additional bonus chips to help them compete weekly across the two leaderboards:
- 1000 bonus chips: Stake a minimum 5000 VPP
- 2000 bonus chips: Pre-purchase an NFT avatar for 150 GOLD.
Players can receive a maximum of ONE BONUS for participating in VPP staking (1000 chip maximum)
Players can receive a maximum of FIVE BONUSES for pre-purchasing NFT avatars (10,000 chip maximum)
ALL PLAYERS can participate in both VPP staking and can pre-purchase NFT avatars.
More information will be provided next week prior to the launch of the next promotion.
Virtue is also pleased to announce that we are opening 3 VPP staking pools that all VPP holders and players can participate in:
- Player Pool 1 (ETH): Staking a minimum of 5000 VPP and receive 25% APR + 1000 bonus chips (90 days)
- Player Pool 2 (BSC): Staking a minimum of 5000 VPP and receive 25% APR + 1000 bonus chips (90 days)
- Justice Pool 1 (ETH): Staking a minimum of 200,000 VPP and receive 50% APR + 1000 bonus chips (180 days)
Staking pools will be opened on June 6th and will be available until July 6th. NOTE: Staking periods begin from the date a player submits their stake.
Virtue has made the decision to delay the listing of the VPP token on the large CEX that we have already been pre-approved for. This was a strategic decision based on macro market conditions. In general, smaller-cap token listings such as ours perform dramatically better when the listing is done when there is more bullish market sentiment. This is not to say that our team is discounting the value of major exchange listings. In fact, we have begun discussions with another top 5 exchange, which we also plan on listing with when market conditions have improved.
Our team has been hard at work preparing for our next major release which will include multi-chain support.
Players will be able to deposit/withdraw across Ethereum or Polygon and then soon after BSC Chain.
This will be a major step forward as Virtue moves towards our multi-chain future. We anticipate this release will be ready prior to the end of our current promotion.
Virtue Metaverse Poker
Virtue has partnered with a major landowner in Decentraland in a joint venture to build a metaverse poker game. Development for our metaverse poker product is already underway - and Virtue players will be able to utilize their Virtue account across both Virtue 2D and Virtue’s 3D metaverse game experiences.
We anticipate our Metaverse MVP being completed prior to the end of the summer. We will provide more updates on our entry into the metaverse over the ensuing months.
Our team is so excited for what is to come for the remainder of 2022. Despite poor overall market conditions - our team is extremely optimistic about what the future holds for our Virtue community.
As always, we appreciate your continued support, patience and dedication to helping our team bring the future of Web3 online poker to a global audience.
How do I reserve an NFT avatar?
- Log-in to the Virtue application
- Go to the cashier
- Navigate to the GOLD redemption page
- Click “redeem for NFT”
- That’s it!
Players will receive an email confirming they’ve successfully reserved their NFT avatar.
Players will be able to redeem their GOLD for an NFT starting on June 3rd 2022 - and NFT redemption will be open until the 500 genesis NFTs are sold out.
Can I purchase multiple NFT avatars?
Yes, players can purchase up to a maximum of 5 NFT avatars. If a player purchases 5 NFTs and uses all 5 they will receive up to 10,000 bonus chips.
I don’t have 150 GOLD, can I still buy an NFT avatar?
Virtue is launching our next “GOLD Bankroll Builder” promotion on June 6th 2022 with over 20,000 GOLD in weekly prizes. Players who do not have enough GOLD can still earn enough GOLD by competing in our Weekly Challenges and Multi-step tournaments to earn enough GOLD to redeem for an NFT (provided they are not sold out).
When will I receive my NFT avatar(s)?
We anticipate launching our NFT avatar minting page in the next 90 days.
How will I claim my NFT?
Those who reserve their NFT avatar will be able to navigate to https://virtuegaming.com/tokeneconomy/nft-avatars to claim their NFT to their Source of Funds address.
Will I receive my chips bonus prior to claiming my NFT avatar?
Yes, all players who purchase their NFT avatar(s) in the Virtue Poker application will be credited with their chips bonus on June 6th 2022. If a player purchases an NFT avatar after June 6th - their chips bonus will be credited to their account within 72 hours.
After I receive it, how can I use the NFT avatar in the Virtue application?
Players will be required to stake their NFT avatar to continue to receive chip bonuses and other perks as soon as our NFTs are delivered to pre-purchasers. More on this soon!!