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Uniting crypto and poker: An interview with CEO PokerFi Renato Maia

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Cryptocurrency is finding its use cases in a number of sectors, one such sector is the poker industry. While the use of cryptocurrency in poker can provide players with a lucrative way of making passive income, there is a lack of awareness among the players about it.

PokerFi or Poker Finance aims to innovate and bring awareness to the financial transactions system within both live and online poker.

In an interview with AMB Crypto, Renato Maia, the CEO of Pokerfi talks about the current state of the poker industry, the aim behind creating their PokerFi token, its benefits, and much more.

1. What was the aim behind creating the PokerFi token? 

Uniting two rising markets. Every day the world of cryptocurrency gains more followers, just like poker. And so far we don’t have a cryptocurrency that is actually widely traded in the real world.

PokerFi is here to break this pattern. Poker is a billion-dollar market, in which I have been a professional player for 10 years and an instructor for 4 years. Together with my partner and advisor Robson Soares, we created profitable planning for poker players and PokerFi holders.

2. Tell us more about what you think is the current state of the poker industry and its adoption of cryptocurrency?

Currently, no cryptocurrency has attracted poker players to join the idea of entering this market. The vast majority of poker players do not invest in cryptocurrencies. PokerFi giving a purpose for them to invest, which is the poker platform with higher benefits than others, so this pattern that poker player is not cryptocurrency investor will be broken.

3. What benefits does the PokerFi platform aim to offer to its players?

a)Improved Rakeback – We will offer Rakeback plans up to 70%.  

b)Passive income on BankRoll – The poker player that usually leaves his dollars in platforms where it doesn’t give him any benefit, at PokerFi the balance that he leaves in our currency will be receiving passive income every 12 hours referring to the transactions that occur in the currency, besides once a week he will receive 5% of the shares of the rake generated inside the platform. Now imagine that you are the owner of a poker team and daily you leave your money idle on the platforms where your players play, and that does not give you income. At PokerFi that high volume of cash will receive dividends.

c) Freerolls tournaments with an additional prize pool, paid with the income in BUSD generated from one of the marketing portfolios

4. How does PokerFi aim to improve the state of decentralized finance or DeFi in the crypto space?

Utility. When cryptocurrency investors see that there is a utility token that is widely traded and these transactions bring benefits to the holders, they will want to be one of them.

5. What makes PokerFi stand out from others in the space?

The passive income system distributed in dollars, where those who want to live off the dividends that the currency pays don’t have to sell them, is certainly PokerFi’s flagship.

6. Tell us more about the intelligent passive income system on Pokerfi?

 A 6% fee is charged on every transaction where 3% is distributed to the PokerFi holders every 12 hours.

7. What cashback programs are available for the users on PokerFi?

a)PointFi program exclusive for poker players. 

b)Weekly distribution of 5% of the rake generated within our site to all holders proportional to the amount of tokens that the person has.

c)Quarterly distribution of 10% of the profits from MarketPlace, NFT’s

8. How does the PointFi program work? What benefits does it offer to users?

There are a total of 10 different loyalty levels in this program. To reach the next level you need to collect a certain amount of points in a specific time. All your points will automatically be converted into dollars (BUSD) weekly.

Level 1 – every $10 of rake generated you earn (10PF) that at the end of a week will be automatically converted into dollar, $1.50.

Level 2 – every $25 rake generated you earn (25PF) that at the end of a week will be automatically converted into $5.00 dollar

Level 3 – every $60 rake generated you earn (60PF) that at the end of a week will be automatically converted into dollar, $15,00

Level 10 – every $10,000 of rake generated you earn (10,000PF) which at the end of a week will be automatically converted into $7000 USD.

Duration of each level

The higher your level is, the longer it lasts

Level 1 – 7 days

Level 2 – 7 days

Level 3 – 15 days

level 10 – 365 days

Let’s say I reach level 10. I have 365 days to renew it, and until then any rake my account as a player generates, I will get rakeback of 70% of that amount. If I generated $100 I will get $70 if I generated $1000, $700, and so on.

9. What are some of the partnerships and updates on Pokerfi that we can look forward to?

First, we need to gain notoriety in both the cryptocurrency space and the poker world, after that happens things will flow in our favor. About updates, the best one is the PokerFi wallet.

Where on the site itself people will be able to leave available in order to sell or buy the coins. In this coin, we managed to decrease the fee to 3% because we don’t need the liquidity fee, since it won’t change the graph and that 3% will only be to pay the distribution of the holders.

For more information on Pokerfi, please check their official website.

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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