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Finance

Decentraland Invests in Decentral Games to Support Metaverse Poker

The money will help fund the rollout of ICE Poker, a new virtual game.

By Jamie Crawley
AccessTimeIconSep 16, 2021 at 8:34 a.m. UTC
Updated May 11, 2023 at 7:05 p.m. UTC
(Keenan Constance via Unsplash)
(Keenan Constance via Unsplash)

Decentraland has made a strategic investment in decentralized autonomous organization (DAO) Decentral Games to support the project’s delivery of metaverse poker.

  • The blockchain-based virtual world’s foundation has made an unspecified purchase of Decentral Games’ native token, $DG, according to an announcement shared with CoinDesk Thursday.
  • The investment will support Decentral Games’ rollout of ICE Poker, a new metaverse-based poker game in which players earn money competing against each other and completing daily challenges.
  • Players pay either $DG or ether to receive poker chips and a “wearable” – a non-fungible token (NFT) representing digital attire such as a suit and tie or dress shoes, akin to a dress code to enter a casino. Players can then play poker to earn $ICE tokens and the XP cryptocurrency, allowing them to mint rarer NFTs that earn higher rewards.
  • The announcement came shortly after Decentral Games formed a similar strategic partnership with Polygon, in which the project behind an Ethereum-scaling product also invested an unspecified amount in Decentral Games to stake $DG tokens.
  • Among Decentral Games’ investors is Digital Currency Group, the parent company of CoinDesk.
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    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter
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