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What is Joystream (JOY)?

Joystream basic info

Name:Joystream
Ticker:
Introduction:

What Is Joystream?

Joystream is a decentralized platform designed for streaming and sharing video content. Governed by a Decentralized Autonomous Organization (DAO), it stands in stark contrast to mainstream centralized platforms. Joystream prioritizes content creators, videomakers, creatives, and consumers, ensuring they remain at the forefront of the platform's operations. The platform's core benefits include a fairer reward distribution system, resistance to censorship, and more. With the digital age evolving rapidly, Joystream emerges as a beacon of innovation, leveraging powerful blockchain">blockchain technology to revolutionize content distribution in a decentralized manner.

Joystream operates on a proof-of-stake blockchain, custom-built specifically for video platform protocols. This unique design ensures that the platform focuses solely on its primary task without the distractions of generalized smart contracting functionalities. With native upgradeability features, the platform can seamlessly implement changes in business logic without resorting to hard forks, ensuring the community remains unified and focused.

Resources

Whitepaper: https://www.joystream.org/lightpaper.pdf

Official Website: https://www.joystream.org

How Does Joystream Work?

Joystream is designed to address the challenges faced by traditional content distribution platforms, such as centralized control, ambiguous monetization strategies, and content restrictions. The platform offers two primary decentralized applications (dApps) for its users: Gleev and Pioneer.

- Gleev operates as a video platform, reminiscent of familiar Web2 platforms but with enhanced monetization options. Content creators can benefit from two primary monetization strategies: Video NFTs and Creator Tokens. Video NFTs allow videomakers to list their content for sale, with potential royalties from secondary market sales. These NFTs can be auctioned in various formats, including English auctions, open auctions, and immediate buy-now auctions. On the other hand, Creator Tokens offer a unique way for creators to engage their community. By issuing their tokens, creators can incentivize their most passionate followers, offering rewards for activities like watching videos or sharing content. These tokens can also grant access to bonus content, early releases, and other exclusive features.

- Pioneer, the governance app, empowers Joystream users to fully harness the capabilities of a DAO. It provides features like an on-chain forum, a comprehensive proposal system, and a structured working groups system. The Joystream DAO itself is a collaborative entity, with various roles such as council members, working groups, and bounty hunters, all working together to shape the future of the platform.

What Is JOY Token?

JOY is the native token of Joystream. Unlike many cryptocurrencies with a fixed supply cap, JOY operates on a mint-and-burn mechanism, supporting the platform's diverse functionalities and value dynamics. New JOY tokens are minted to compensate validators, stakers, council members, and working group leaders. Additionally, creators receive payments in minted JOY, and the council can issue tokens to support applications or fund public goods.

Conversely, burning JOY tokens removes them from circulation. Activities such as transaction fees, purchasing NFTs, or participating in token sales result in a portion of tokens being burned. As applications within the ecosystem grow and monetize, they are required to burn tokens to compensate for the resources their users consume.

The value trajectory of the JOY token is determined by the interplay between minting (representing operational costs) and burning (indicating value capture). In essence, the JOY token serves as a gateway to the platform's blockchain functionalities, with its value influenced by the balance between cost minting and value capture burning, fostering a system that emphasizes sustainability and user-centric growth.

What Determines Joystream's Price?

In the dynamic world of cryptocurrency, several factors influence the price of tokens like Joystream. Primarily, the classic economic principle of supply and demand plays a pivotal role. As cryptocurrency adoption grows, especially with platforms like Joystream gaining traction, the demand for the token can surge, potentially driving its price upwards. Conversely, if the supply of the token increases without a corresponding rise in demand, the price might experience a dip. Cryptocurrency charts and cryptocurrency analysis further provide insights into these price movements, helping investors make informed decisions.

Recent developments and the latest news surrounding Joystream can also significantly impact its price. For instance, positive news about Joystream's latest developments or endorsements from influential figures in the crypto space can lead to increased investor interest, pushing the price higher. On the other hand, cryptocurrency risks, such as security concerns or potential cryptocurrency regulation, can introduce market volatility, leading to price fluctuations. Cryptocurrency price predictions, based on comprehensive analyses, often consider these factors to forecast potential price movements, aiding investors in identifying the best crypto investment for 2023 and beyond. For those looking to trade Joystream, leading exchanges such as Bitget offer a reliable platform to buy the cryptocurrency, ensuring a seamless trading experience amidst the ever-evolving crypto landscape.

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Current price:
All-time high:$0.06033
All-time low:$0.002011

JOY supply and tokenomics

Circulating supply:1,063,659,840 JOY
Total supply:1,089,703,164 JOY
Max supply:0 JOY
Market cap:$6.19M
Fully diluted market cap:$6.34M

Links

Buy Joystream for $1Buy JOY now

What is the development prospect and future value of JOY?

The market value of JOY currently stands at $6.19M, and its market ranking is #1362. The value of JOY is not widely recognized by the market. When the bull market comes, the market value of JOY may have great growth potential.

As a new type of currency with innovative technology and unique use cases, JOY has broad market potential and significant room for development. The distinctiveness and appeal of JOY may attract the interest of specific groups, thereby driving up its market value.

What will the price of JOY be in 2025?
Based on JOY's historical price performance prediction model, the price of JOY is projected to reach $0.01259 in 2025.
What will the price of JOY be in 2030?
In 2030, the JOY price is expected to change by -7.00%. By the end of 2030, the JOY price is projected to reach $0.02368, with a cumulative ROI of +303.76%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of JOY and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is JOY worth investing or holding? How to buy JOY from a crypto exchange?

If you want to buy JOY, the following information may be helpful for your investment decisions:
In the last 7 days, the price of JOY has fallen by -16.03%, leading to negative returns for most JOY investors. The market is currently pessimistic about the price trend of JOY.
It is important to note that the current price of JOY has retreated by -90.36% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether JOY is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in JOY or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of JOY, if you want to buy or sell JOY, you can consider Bitget for your trading needs. The best place to buy JOY is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in Joystream has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Joystream. Here's a step-by-step guide on how to buy Joystream on Bitget.

How to get Joystream through other methods?

Using cash to buy Joystream is not the only way to obtain Joystream. If you have the time to spare, you can get Joystream for free.
Learn how to earn Joystream for free through the Learn2Earn promotion.
Earn free Joystream by inviting friends to join Bitget's Assist2Earn promotion.
Receive free Joystream airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to Joystream through Bitget Convert, Bitget Swap, or spot trading.

What is Joystream used for and how to use Joystream?

The use case of Joystream may expand as the crypto market and the project itself develop. Currently, you can use JOY to achieve the following goals:
Arbitrage by trading JOY: Since JOY is a frequently traded cryptocurrency, the price of JOY is always fluctuating. Earn more JOY by buying low and selling high on the exchange. Bitget spot market provides a variety of JOY trading pairs to fully meet your needs.
Earn by staking JOY: You can also generate income through financial management methods such as staking JOY or lending JOY. Bitget Earn offers a variety of financial products designed to help you earn more income from your JOY.
Send or pay JOY: If you want to give JOY to your friends, a charity, or a fundraiser, or you want to pay someone with JOY, you can quickly and easily send JOY to the recipient through their payment address.
You can also go to the official website of the Joystream project to learn more about the use cases of JOY. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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