Joy Token is a new development platform specifically for the creation and marketing of online casino games that relies on blockchain-based technology and smart contracts to provide scalability, transparency, and global adoption. The company is planning an ICO to crowdfund the creation of this platform.
What Is Joy Token?
Joy Token is owned by Joy Gaming Ltd, a company registered at an address on the Isle of Man, an island in the Irish Sea situated between England and Ireland and part of the United Kingdom. The company, however, is sometimes referred to as Joyful Games or Joy Games, depending on which of the LinkedIn profiles of the three main executives you visit.
The CEO of the company is listed as Andrew McDonald, who has worked in the online casino gaming industry since at least 2007 in several different executive roles. McDonald is joined by CMO Mike Leys and CTO Steve Giordano Imbroll, individuals who likewise have long employment histories in the industry.
McDonald, Leys, and Imbroll are additionally members of the executive board for PlayCosmo Casino, a UK-based online gambling site. PlayCosmo is to be the initial venue for all Joy Token games developed in the future, though the company has plans to ensure these games are marketed globally to different casino websites.
Joy Token Product
Joy Token, in its current form, is yet to be developed fully as a platform for the development of online casino games. Plans are to provide several services through the platform, with a stated goal of providing programming tools and marketing access to smaller-scale developers that would otherwise be lost in the press of larger-scale developers within the online casino gaming industry.
In order to fund development, the Joy Token ICO will first undergo a presale period from December 1 2017 to February 13 2018. Then, the full ICO is scheduled to begin on February 27 2018 and run until March 29 2018.
A single Joy Token (JOY) will be the equivalent of $0.20 USD per coin. Prices during the presale and main ICO sale will be discounted on the following schedule:
- Pre-sale: $0.10 per coin
- February 27: $0.14 per coin
- March 5: $0.15 per coin
- March 11: $0.16 per coin
- March 17: $0.17 per coin
- March 23: $0.18 per coin
Purchases can be made with Ether, Bitcoin, or fiat cash wire transfer. A minimum contribution of $100 USD is required to participate in the ICO. The minimum contribution for the presale, however, is $30,000 USD.
Joy Token Opportunity
The opportunity presented by Joy Token is to invest in a new blockchain-based development project that could provide a high ROI. While Joy Token will be used as the primary currency of any online casino games that are developed for the platform, most interested investors are likely looking for a speculative opportunity; with Joy Token priced so modestly, there is plenty of room for growth in valuation.
Joy Token Verdict
The online casino gaming industry is, traditionally, a robust one. This makes the likelihood of Joy Token being successful higher than many other ICO-based investment opportunities out there. However, at the same time, there are still many risks inherent in any ICO, and Joy Token shares them.
First and foremost, for Joy Token investors to see their investment grow, the platform will have to become viable. This will only occur if it’s adopted by the gaming software development industry enough to popularize it as a platform. Whether the Joy Gaming development team will be able to accomplish this feat is unknown; while the individuals that have their hands on the tiller have plenty of industry experience, there are still myriad ways for a new startup to fail.
While we can’t advise sinking $30,000 USD into the Joy Token pre-sale thanks to its exorbitantly high minimum contribution, the $100 limit during the main ICO is much more reasonable. Invest moderately if you wish, but beware the risks.