What Is Altura (ALU)?
Trading under ALU, Altura is a smart contract platform. The platform allows game developers to mint, distribute, and transact smart non-fungible tokens (NFTs) represented in game items. Altura provides an infrastructure for the future of in-game items and digital assets.
Smart NFTs have dynamic properties. Such properties can be changed with certain conditions. Smart NFTs are the next step to make decentralized in-game content and offer opportunities that are not available with traditional NFTs.
The project aims to create an open and accessible user interface for creating smart NFTs. Also, according to the whitepaper, the project seeks to create an open marketplace for transacting NFTs on the blockchain network. One of the current problems users face is the lack of ownership. Gamers do not truly own their in-game items. Also, they do not have the option and freedom to send, receive, and trade such items. The reason is the game developers' centralization and control of in-game items. Shutting, manipulating, and even deleting items by such developers do not give gamers the true feeling of owning the items.
Further, such video games do not allow their in-game items to be traded. To overcome this, many shady high-fee marketplaces are created. This intends to trade or transfer the entire account’s ownership of an in-game item from one gamer to another. In addition to it, many games want their gamers to trade their in-game items. But they are left behind from making a marketplace system and entire inventory because of time-consuming factors and difficulty. The Altura project aims to solve such problems in games with the help of cryptocurrencies.
Cryptocurrencies allow gamers to have actual ownership of their digital items and collectibles. This gives the in-game items their true value and gamers a real incentive to acquire in-game items. The project also provides an opportunity for game developers to earn more revenue from their new products.
Moreover, the platform seeks to provide an easy-to-use interface to mint new NFTs for creators. The platform works on the Binance blockchain network. Binance Smart Chain is a decentralized digital asset exchange based on a high-performance engine. The platform also provides for loot boxes. Loot boxes are a source of revenue for many game developers. This helps players to unlock random in-game items. These loot boxes are also a kind of NFT that can be further traded.
Further, the platform also provides a marketplace where NFTs can be traded. Altura’s platform allows anyone to list their NFTs for any price and auction them. However, users can only see NFTs made by verified game developers. The platform also provides various tools for developers to mint, access, and transfer NFTs within video games.
Altura is the native token of the Altura platform. The ticker name of Altura is ALU. The token is used to buy and sell NFTs. Also, the game developers get the commission from such transactions in the form of ALU. Thus, the token is a transaction token and a governance token.
History of Altura (ALU)
The platform was launched in the second quarter of 2021. The founding team includes Majd Hailat and Maxim Sindall. Hailat is the lead developer and a young entrepreneur who has hosted various YouTube channels. He has been investing in the crypto space since 2019. Sindall developed an educational program called Understanding Computing, where he helped students understand blockchain.
The maximum total supply of the ALU token is 1,000,000,000 ALU.
How Are New Altura (ALU) Tokens Created?
Whenever a transaction happens on the platform, the game developers use it to get a cut. Users can also earn tokens by trading their in-game items. Also, they can sell their loot boxes. So, whenever a developer mints an NFT, they specify their fee every time that NFT gets transacted in the future. This provides an ever-lasting passive income for the developer.
