Cryptos Test New Waters Poker Tournaments
It was an interesting time in the world of poker last week. Most may be think of the crowning of the World Series of Poker (WSOP) Main Event champion in Las Vegas. But a small tournament at Harrah’s Resort and Casino in Atlantic City may strike a bigger chord for those in the crypto world.
The first-ever all-crypto, live poker tournament was held as part of the Blockchain World Conference (BWC). While the turnout may have been tiny compared to the WSOP, many are hoping the crypto-tournaments continue and are proof that similar events could safely transfer funds – and are more than just a gamble.
50 players and 4 coins
The BWC tournament was much the same as traditional poker tournaments. Fifty players gathered around tables and battling it out with bets and bluffs, hoping to be the last person standing.
However, players brought in using ticket-buying technology from Blockparty, a blockchain startup. The USD 250 buy in (an up-front payment required to enter a poker tournament) could be made using bitcoin, ether, litecoin, or BOXX, the Blockparty token, via Jaxx wallet after registering on the Blockparty app. The company’s bigger aim is to solve issues such as ticket fraud, large reseller prices, and friction at event check-in. Company officials used the tournament to showcase the app’s capabilities.
The tournament was a success, said Vladislav Ginzburg, Blockparty vice president and head of business development. “There was a good buzz around the conference leading up to the tournament among those who were already poker players, but also those who wanted to be a part of another element in mainstream cryptocurrency adoption.