“Players will soon realize the heightened entertainment that comes with playing poker in an immersive Web3 environment,” said Eric Schiermeyer, founder of Gala Games.
On May 22, the GameFi project Gala Games announced that it would start a new Web3 social poker game in partnership with the Las Vegas poker streaming platform PokerGO. The game will be called PokerGO Play, and users will be able to improve and update their players as well as win real-world prizes. The beta version of PokerGO will start in June, and the full version will be out later this year.
In May 2022, PokerGO released a set of 1,326 Genesis nonfungible tokens (NFT) that show all of the possible starting hands in Texas Hold’em. With a floor price of 0.1 ETH, around 52 ETH or $1,836 worth of the collection has been sold. At the time, benefits for NFT holders included, but were not limited to, “chances to win cash, memorabilia, and merchandise when their hand appears in winning moments.” Developers wrote the following as part of the May 22 announcement:
“PokerGO Genesis NFT holders will receive beneficial status within the game, and the two sides plan to host special events inside the PokerGO Studio in Las Vegas.“
Gala is the person who made a set of Ethereum-based play-to-earn blockchain games. On May 18, Gala creators said that they had burned over 21 billion Gala (GALA) tokens worth about $640 million after the protocol’s v2 airdrop. Before, in December 2021, the decentralized Ethereum online poker platform Virtue Gaming started a digital poker casino that used cryptocurrencies and a “play-to-earn” system. Phil Ivey, who won the World Poker Tour and is a poker celebrity, is behind the online platform.
In November 2022, a bug called “infinite minting” was used to take money from the liquidity pool of the Gala Games token bridge. The amount taken was about $4.5 million. The project is suing pNetwork, the cross-chain interoperability bridge that Gala Games uses on the BNB Smart Chain, for $28 million because it is thought that pNetwork was involved in the event.