JoyToken recently took a big step in developing its platform and demonstrating the project’s worth to its target market. The startup released a demo to show off their current abilities and prove in practice, how smart contracts can be used to execute game outcomes. Specifically, it was a demo slot game designed for the sole purpose of offering a sneak peak at smart contract functionality.
Through the platform’s native token JOY, those who develop digital casino games will be given the ability to be rewarded in cryptocurrency whenever their games are being played. This is a preferable situation for developers, because as things currently stand, they only get paid once and that’s when the game is initially purchased by a casino operator.
JoyToken CEO, Andrew MacDonald, commented on the JoyToken platform saying that it is a tool for developers to, first and foremost, facilitate the process of creating more games. Something he thinks the incentivized model will help to do as well is dealing with all legal matters.
“Our goal is to support developers in doing what they do best, that is, create new games. We abide by all local market gambling regulations, so developers can be assured that games released on our platform have legal access to all jurisdictions.”
For one reason or another, the JoyToken’s team believes that the online gambling industry has seen a significant hit to its reputation as of late. They cite a lack of transparency and the emergence of scams that are seemingly infiltrating the market.
However, the team believes that the majority of casinos are reputable and, with the help of JoyToken, they can prove it by using the platform’s smart contract-based protocol. Being a public blockchain, JoyToken can be viewed by anyone, including both players and developers.
The demo showcase is just one way that the startup has progressed in the development of its platform. Very recently, the project has released an API for developers giving people a feel for how the ecosystem would operate in the future, after its full launch.
According to the team’s press release on the subject, the API protocol enables game developers to build games powered by JoyToken’s frictionless cryptocurrency and immutable smart contracts. Developers will now be able to leverage blockchain technology and smart contracts to create and distribute winnings and Random Numbers Generator (RNG) values on an auditable platform.
Additionally, JoyToken is currently holding a presale Token Generation Event (TGE), which kicked off on 1st December, 2018 and will end on February 13th. The event will enable the public acquire JoyTokens at $0.20 with a 50% bonus on every contribution made. JoyToken has minted a total token supply of 700,000,000 JOY for its public sale event to be distributed.