After the end of the Denex project in March, we went back to the drawing board, talking to NFT creators and investors while building and testing new tech.
Now, we are excited to announce our project: JOYST.
JOYST is the Shopify for NFTs, giving businesses and creators the ability to build their own websites and integrate smart contracts into those websites quickly and easily.
At the moment, creators exclusively sell NFTs through eBay-like centralized platforms, which controls how the NFTs are distributed and traded. JOYST puts control in the hands of the creator by allowing them to dictate how their website is designed, what the sales experience looks and feels like, and how they grow their community through their own channel. Additionally, JOYST strives to become a complete DAO, giving the community control over how the protocol is designed and develops.
Why Joyst?
Just a few months ago, a completely decentralized NFT exchange was a novel idea. Since then, the NFT space has experienced massive growth and multiple competitors have emerged.
Because of this, we had lengthy conversations with NFT creators, collectors, and investors to gather feedback on our ideas, and learned more about their needs and insights on the direction of the space. Based on these conversations, we came to understand a couple of things about the NFT Creator community:
- Individuals are highly sensitive to decentralization
- This is driven by a desire for control over the means of production, distribution, and experience of their work
- This is also driven by a desire to move away from the traditional practices of the physical world
- Brand, community, and trust are all critical to the success of a creator
From these insights we decided to focus on building tools which give creators more control over their work, and the means of production and distribution.
Since those conversations, we have begun developing the platform, and are rapidly approaching a finalized beta. We are also working on building our governance framework including the snapshot process and governance portal.
This announcement represents the beginning of the JOYST community, and more updates on how to participate will be coming soon!
Be sure to follow our Twitter, Telegram, and Discord for more announcements.
The JOYST team
