Joystream PriceJOYInactive

What is Joystream (JOY)?

Joystream (JOY) is a decentralized video platform protocol that brings the principles of blockchain technology to video publishing. Much like email standardized digital mail and Bitcoin redefined money, Joystream aims to do the same for video. All profiles, videos, and social interactions are stored on a dedicated high-throughput public blockchain, giving users a transparent and secure environment for content distribution and monetization. The platform is governed by a user-controlled Decentralized Autonomous Organization (DAO) that funds creators and builders while operating the storage and content delivery infrastructure. The native token, JOY, facilitates transactions and enables holders to participate in governance decisions. Joystream's mainnet launched on 2022-12-09 at block 11,836,729; the asset was listed on CoinMarketCap earlier, on 2020-09-01. Its total supply is approximately 1.13 billion JOY, with a circulating supply of roughly 1.11 billion, representing about 98% of the total supply. The project is built on the Substrate blockchain framework and has an application called Atlas that provides a familiar video platform interface on top of the Joystream blockchain.

Key Specifications & Tokenomics

• Name: Joystream
• Ticker / Symbol: JOY
• Consensus: Substrate-based dedicated chain (validators secure the network and produce blocks)
• Smart Contracts: Ethereum contract: 0xb8f5c0adc04ebbf0f40866c48959578aa9d86f8a
• Token Contract (Base): 0x8761155c814c807cd3ccd15b256d69d3c10f198c
• Category: Communications & Social Media, Base Ecosystem, Substrate
• Launch Date: 2022-12-09
• Block Number at Launch: 11,836,729
• Total Supply: 1.13B JOY
• Circulating Supply: 1.11B JOY
• Circulating Supply as % of Total: 98%
• Max Supply: No supply cap (initial total supply was 1,000,000,000 JOY; supply expands with issuance).
• Base Unit: Hapi (10,000,000,000 Hapi per JOY); Decimals: 10
• Block Explorer: basescan.org, joystream.subscan.io
• Official Website: https://www.joystream.org/

Who created Joystream?

Joystream was founded by Bedeho Mender and Mokhtar Naamani. Bedeho Mender serves as the CEO, guiding the project's vision and execution, while Mokhtar Naamani is a co-founder. The team behind Joystream comprises engineers, designers, and marketing experts dedicated to developing a video platform for the future. Their collective efforts aim to create an improved, decentralized video platform that offers a fresh approach to content creation, distribution, and consumption. The collaborative effort behind Joystream ensures a robust and independent platform for video content creators and consumers. According to the project, the community, technology and products were built over more than three years and 13 test networks. Joystream has raised about $5.85M from investors including Digital Currency Group, Alliance DAO and D1 Ventures (per Tracxn company profile).

How does Joystream work?

Joystream operates on a dedicated high-throughput public blockchain built on the Substrate framework. All user profiles, videos, and social interactions are stored on this blockchain, ensuring transparency and security. A user-controlled DAO governs the platform, funding creators and builders while managing the storage and content delivery infrastructure. Developer APIs allow developers to build new applications on Joystream's open network effect and infrastructure, with open APIs documented in the Joystream handbook. The platform includes a flagship application called Atlas, which provides a familiar video platform interface. Through Atlas, users can upload videos to their channels, build subscriber counts, sell videos as NFTs, and even create their own creator token for their channel. Creator tokens function similarly to shares of a company, allowing token holders to earn a share of revenue generated, get early access to videos, and access other benefits controlled by the creator. This system enables creators to capitalize on their channel and popularity while offering fans a way to invest in and support their favourite creators.

What makes Joystream unique and valuable?

Joystream distinguishes itself by providing a decentralized alternative to traditional video platforms. Unlike closed incumbents where everyone is stuck with a single experience controlled by one company, Joystream empowers developers to experiment with new features, algorithms, and policies. Creators can build their audience and business on a solid foundation, selling video NFTs to capture more value from their greatest fans and issuing dedicated revenue share creator tokens to finance creative projects. The platform's curation model enhances content discovery, ensuring users can easily find and engage with high-quality videos. Developers benefit from Joystream's open network effect and reliable APIs, enabling them to build new applications on a robust and transparent infrastructure. The user-controlled DAO allows for a more democratic and community-driven approach to platform governance, ensuring that the platform evolves according to the needs of its users rather than a centralized authority. Joystream also offers an AI-driven automatic video translation feature that generates real-time subtitles and language support, helping creators reach a global audience.

What is Joystream used for?

The native token JOY facilitates transactions on the Joystream network and enables token holders to participate in governance decisions. JOY is used to fund creators and builders through the DAO, operate the storage and content delivery infrastructure, and support the overall functioning of the decentralized video platform. JOY is also used as the currency in all dApps built on Joystream. Creators can issue dedicated revenue share creator tokens to finance their creative projects, with token holders earning a share of the revenue generated and receiving benefits such as early access to videos. Video NFTs allow creators to sell their content to their greatest fans, capturing more value from their work. The platform's APIs enable developers to build new applications on Joystream's open network effect and infrastructure, expanding the ecosystem and providing diverse experiences for creators and consumers.

How Is the Joystream ecosystem developing?

The Joystream ecosystem is anchored by Atlas, the flagship application that provides a video platform interface built on the Joystream blockchain, where users can upload videos, build subscriber counts, sell videos as NFTs, and create their own creator tokens. Beyond Atlas, the ecosystem includes Gleev, a Web3 video application, and Pioneer, the DAO governance portal used for on-chain governance. Creator tokens allow creators to capitalize on their channel and popularity, with token holders earning a share of revenue, getting early access to videos, and accessing other benefits controlled by the creator. Video NFTs enable creators to capture more value from their greatest fans. The user-controlled DAO funds creators and builders and operates the storage and content delivery infrastructure. Developer APIs allow developers to build new applications on Joystream's open network effect and infrastructure, with open APIs documented in the Joystream handbook. The platform's curation model further enhances content discovery, ensuring that users can easily find and engage with high-quality videos. Joystream is listed on various price tracking platforms and has an active community across social media channels.

How to mine Joystream?

Joystream is a Substrate-based proof-of-stake network: validators stake JOY to secure the chain and produce blocks, and are rewarded from token issuance and network fees. Node operators should follow the official Joystream handbook for validation, staking and node-operation requirements. The JOY token is the native token of the network, used for transactions and governance. The platform's DAO governs the network, and token holders can participate in decisions about the platform's development and operation.

How to keep your Joystream Coin safe?

Keeping your JOY tokens safe requires following standard cryptocurrency security practices. JOY exists natively on the Joystream Substrate chain and is also deployed as a token on Base (0x8761155c814c807cd3ccd15b256d69d3c10f198c) and on Ethereum (0xb8f5c0adc04ebbf0f40866c48959578aa9d86f8a); use wallets that support the relevant network and always verify the contract address. Be cautious of phishing attempts and unofficial links. Store your private keys and seed phrases securely offline, and never share them with anyone. For long-term holdings, consider using hardware wallets that support the relevant networks. Enable two-factor authentication on any exchange accounts you use, and regularly review your security settings. Stay informed about official Joystream communications through their website and verified social media channels to avoid scams and misinformation.

Risks and uncertainties

JOY's price can be volatile and may be affected by market sentiment, liquidity and broader crypto market conditions. Regulatory treatment of tokens and decentralized platforms varies by jurisdiction and may change. Technical risks include smart contract vulnerabilities, network upgrades and the reliance on third-party wallets and bridges. The points above are informational and should not be read as predictions or recommendations.