Listing in a well recognized exchange will actually make it more visible and the visibility will in turn increase its liquidity. If Niyvi creates a token that will only be used in the casino, it’ll only limit its use there and will not give it the large audience it will need for its use case. I believe they’re creating something big and valuable that will last for the long time and not just for a short time period as the case of others who have tried same thing in the past.
Listing on big exchanges is like a honeypot to attract people to your project and buy your token. Effects from exchange listing don't last for a long time, and after some days or several weeks, price will be pulled back to what it is according to its value.
To grow up your project and your token, two big things are its use cases and utility, then community need to be big and strong, so that there is enough intrinsic value of your project and a representative token, as well as enough strong support from community. All these contributors can help a project token to gain actual value and the market will react accordingly to the token value. It's more sustainable for a project token price in long term, but not many projects succeed to do this.