JoyToken is a platform and protocol that forms the foundation for a “trustless” gambling ecosystem wherein smart contracts are used to automatically determine game outcomes. By joining JoyToken’s platform, game developers can gain distribution and earn rewards from their games.
JoyToken is a fully-functional, blockchain-backed platform for the gambling industry wherein smart contracts are used to reward developers for creating games.
Joy Gaming’s technology offers a novel solution to connect small developers, software houses, large casinos and players. It creates a gaming ecosystem that both empowers players and helps developers and casinos reduce risk.
The lack of trust and transparency is a concern with the online gambling industry. Players tend to use reputable casinos instead of smaller sites, even if they offer more “interesting games”, because players naturally gravitate to casino brands that they trust. Joy Gaming’s technology is a transparent blockchain-based system, which will help improve trust in the gaming industry. Joy Gaming’s technology enables users to play in a transparent and code- governed environment. This allows players and developers to have confidence in the fairness of the games. Through an innovative RNG generator, players will have peace of mind that the games they play are fair and safe. Developers, casinos and businesses bene t from an ecosystem that provides liquidity sharing and fair compensation. By connecting developers and casinos, we aim for an optimal solution where all participants in Joy Gaming benefit.
The existing Gaming ecosystem is largely reputation driven - a reputation built up by increased advertising. To acquire and retain players, casinos are forced to spend large amounts in order to build trust and reputation through brand awareness. In addition, large casinos control game development. Players are forced to trust these casinos because a lack of transparency means that players can’t track their wagers and thus can’t assess the legitimacy of each bet.
Smaller developers also suffer because they are paid a small percentage of the games revenue and face difficulties when publishing a new game, such as: lack of immediate income and access to the large gaming platforms.
Joy Gaming’s solution is blockchain-based and it allows developers to create games that are run on its backend through a smart contract, rather than directly on the blockchain. As all the results are recorded within the blockchain, there is significantly lower fraud. Thus players can verify that developers are running games exactly as described on the blockchain. Further, game developers and software houses can connect and integrate with liquidity providers, such as casinos, to provide access directly to their games. Both the casinos and the developers bene t from the additional revenue and increased game innovation. The lack of reputation of any specific site can be offset by the fact that rules and underlying infrastructure of the games are recorded on the blockchain (in addition to the approval system before games are allowed to go live on the Joy Gaming network).
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Investor, Decentralized Economics Researcher, Crypto Visionary, FinTech Pro, Startup Mentor and Advisor Rated on Apr 9, 2018
3
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7%
Brief thoughts.
Team finally passed the KYC, so I update the rates.
It is a fairly good idea to disrupt the online gaming/gambling industry and implement some better practices there. But the competition in this field now is humongous, I've seen hundreds of more or less similar developments coming to the market or even present there now. And the key to success would be a strong major game developer's engagement, which I can see among some of the competitors, yet I can't see it here.
Also, tokenomics looks to be disadvantageous for a later ICO investors, which usually leads to a massive token devaluation somewhere in the first 1-6 months.
UPDATE 09.04.2018:
Some financial claims about secured investments don't find any supporting evidence (on the contrary, ETHscan demonstrates almost no secured investments). No answer from the team in their Telegram channel. Currently i would recommend to stay away from this project.
Also, bad marketing practices and a ghost community are all not OK.
Looking forward to get any plausible explanation from he team.
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