Interview Questions for Joytoken’s CEO Andrew MacDonald, by Cryptocentral.io
1. Hi Andrew, could you briefly talk about your professional background and the core team at Joytoken?
Our team consists of 3 eGaming veterans, 1 Venture Capitalist and 15 developers. This project is lead by me – I’ve over 20 years of retail and online gaming experience for companies such as bet365, BWin, PartyGaming, Rank across product verticals of Bingo, Casino, Poker, Games and Vegas. The CMO, Mike Leys, a seasoned marketer with 30 years of experience and over 15 years in eGaming working for the likes of Mr Green and PokerStars. The CTO Steve Giordano Imbrol, with strong skills relating to data, analysis, development and BI. He’s worked at firms such as Pokerstars and PKR. Ultimately, we’re passionate about gaming, we love it and believe that it’s a source of entertainment that appeals to a wide variety of consumers. We have strong operational, Marketing and BI backgrounds that are key to the success of this venture.
2. How big is the online gaming and gambling industry and what do you think are the shortfalls in the space currently?
It’s HUGE! It’s an ever growing multi-billion dollar industry that appeals to a diverse array of consumers – each with their own needs and wants. The eGaming industry is an entertainment space and is often misunderstood by those that haven’t taken a look or had a play. We believe that there’s room for more engagement and more growth through new innovations. Currently games are developed by large firms by a small ‘elite’ few with a fixed idea that don’t often think outside the box. This is where JoyToken is different – we’re not giving the direction for the development of the content. This is where new opportunities are to be had!
3. When was Joytoken established and how has the demo platform faired?
The JoyToken project was conceived in May 2017 whilst working on our sister company PlayCosmo.com, where our management team started asking fundamental questions about what makes a Casino unique and what do players want. From this we engaged our development team and got to work on building a demo of the system. The demo took some time to be ready for public view, but we have managed it – though it is more technically focused at this point. The demo is a proof of concept and that we have the technology that works. Over the coming months we’ll be tweaking the UX to ensure that any player will be able to use the tool with ease.
4. Can you briefly explain the decentralized Joytoken model and how will it help the online gaming and gambling space in its current form?
Joytoken is a radical new idea that will shake up the eGaming space. The project is more than a cryptocurrency, it’s a new approach to bringing new, innovative and exciting content to market by enabling independent developers. We have created an API that, once integrated into games of independent developers, will allow players to audit their play on our games by recording all details of each transaction within a smart contract. By allowing developers to create their own content and integrate our API, we’re going to help get their content through all regulatory, compliance and legal checks then take their content to market. This should carve a new niche in eGaming and could attract a new generation of players with new concepts and content ideas. We’re going to shake things up a bit – and it’s well needed in the industry. Our aim is to build a large portfolio of games fun. JoyToken is about Joy – it’s all fun!
5. On the technical side of things, could you briefly talk about the Random Number Generator feature for creating trust with users?
The RNG setups will be game specific, so trying to go to technical detail on this may prove complicated in this interview, however the API is the key for creating a trust free environment. Essentially all player transactions are logged on a smart contract and this can be reviewed and checked any the player at any time. They can play with complete confidence in knowing that everything can be verified – immediately and without dispute. We have a working demo of this on JoyToken.io, although it’s in beta and more geared for the technically minded. We’ll be working on the UX for players in the coming months to make it easy for them.
6. How important was it to have a native token on your platform? What all functions will the token perform?
This is one of the keys to JoyToken – only the developers must use it: it’s the way they buy into our system and then receive their revenues. Players can use the JoyToken where local laws permit, else use their local fiat currency. This is an area where we stand out from other eGaming ICOs – we’re not restricting our player base. We know that any currency used by the players means more revenue and more revenue means more demand for the JoyToken to pay the developers. It’s a simple cycle and economy, but one that we believe can be stable, yet maintain a consistent level of growth.
7. Are you guys concerned about the scaling issues Ethereum is facing? Do you think these will get sorted out by the time Joytoken launches its full services? Have you considered the option of moving to another platform such as EOS in the future?
We always keep our eyes open with regards to the nature of this technology. That being said we are currently content with Etherium at this point. Our technical team has been working on ways to handle the limitations of Etherium and thus far we have solved some of the key hurdles that would cause problems for players and inhibit uptake in the eGaming industry. In the future, we may have to consider change, but not at this time and we are confident that we’re going to make a positive impact.
ICO related Questions
8. What will the funds raised from the token sale be used for?
Infrastructure, Marketing and Development are the key areas, amongst others. We have a working system, we are raising the funds to enable us to get ourselves to market quickly and make an impact. We’ll be marketing to new developers to engage them to build new content as well as selling the games to players by building awareness campaigns and having the operators push our games in prominent places on their site. The infrastructure and development costs will be driven by us scaling the business as quickly as possible. For every indy developer that produces a game, we’ll need software engineers that specialise in eGaming to verify the code to ensure the games are up to the regulatory, legal and compliance standards for each marketplace. The more capital raised, the quicker we’ll have our games out there generating revenues!
9. When does the crowd sale start?
The presales are live now – and will be until March 19th. If you’re an early adopter you’ll need $30k USD and we’ll give you a 50% discount on each token. From March 20th, we’ll have our general sale where everyone can get involved. Purchases will start at $100 USD and we’ll even give you a discount if you manage to get in there early too! Check out www.joytoken.io to see what discounts are to be had – come and take advantage!
10. Is there a registration process (KYC) for participating in the crowd sale?
Yes there is. The requirements for KYC all depends on how much you are trying to purchase. These details are available on the website joytoken.io. Don’t worry! KYC is a straight forward process at all levels and doesn’t typically take too long to complete.
11. Are there any bonuses available during the crowd sale?
Yes there are! Get in on the presale and save 50%, but from March 20th we’ll be offering some attractive discounts for those that come along and get in early. The sale will run until April 19th – but if you leave it to the last minute you’ll miss out on some great offers. On March 20th, we’ll give you 30% off – but we are limiting the amount of coins at that rate and you only have 6 days to take advantage! Full details are on JoyToken.io – we have plenty of offers during the sale – don’t miss out!
12. What is hard cap for the crowd sale and what is the total token supply?
We have a hard cap of $46.3M USD and a supply of 700,000,000 JoyTokens.
13. Will the Joy tokens be tradable on exchanges and which ones?
Yes they will. These will be announced soon, so please register for updates and follow us on Social Media or Telegram.
Interview Questions by GS Bhullar, Chief Editor, Cryptocentral.io GS Bhullar graduated in Bachelors of Commerce from University of Toronto, and completed the MBA program in Business Development from Clarkson University, New York State. He is an entrepenuer with successful businesses in Real Estate and Hospitality sectors. He discovered Bitcoin and cryptocurrencies in 2013, and is always looking to learn about new technologies and developments within the space.
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