The former Full Tilt Poker executive Rafe Furst has come in support of the Cryptocurrency Project. Earlier, the big names in poker – Antanas "Tony G" Guoga and Phil Ivey had called for the union of the poker world and cryptocurrency.
Guoga and Ivey had backed cryptocurrency-funded online poker rooms with CoinPoker and VirtuePoker, respectively. Rafe Furst has set up a venture by the name ‘The Crypto Company’, which is a cryptocurrency investment firm as described by him in an interview with Entrepreneur.
The Crypto Project just represents the newest high-profile entry of a significant poker name into the world of crypto start-ups. The decentralised nature and safety aspect of the blockchain technology makes crypto a natural fit for online poker.
Virtue Poker is counting on names like Ivey, Dan Colman and Brian Rast among its backers for a slated fall 2018 launch. Matt Kirk and Tony G are among others with notable poker backgrounds and involved in initial coin offering (ICO) – a sale that was a big hit.
Furst has held a position on the board of Full Tilt Poker (FTP), also being one of the company's investor-cum-founders. Before the successful business in Poker, Furst even left his mark as a player racking up over $500K in live winnings on just 13 total cash. Winning World Series of Poker bracelet in $1,500 Pot-Limit Hold'em for $345,984 in 2006 was the highlight of his poker career. Furst is not an active player now, although he had made an appearance at the WSOP Main Event in Las Vegas this year.
Furst has been involved in tech start-ups before, and this foray into the burgeoning crypto industry is not much of a surprise. If the trend continues like this, poker industry might see a change on a far, far larger scale.
With Furst being the latest high-profile name to get associated with the crypto, there is an anticipation of many others in the industry to follow suit.