What is Altura? All You Need to Know About ALU

Altura (ALU) is a blockchain project that enables the creation, trade, and integration of smart NFTs into games and applications.

The gaming industry has evolved, with microtransactions emerging as a significant revenue stream, transforming how games are monetized. This shift towards in-game purchases has sparked debates about digital ownership and the tangible value of virtual assets. Traditional models, where gamers spend on non-transferable, studio-controlled items, highlight the limitations of current systems. These challenges underscore the necessity for a new approach that empowers players with true ownership and transferability of digital assets. Altura (ALU) addresses this need by leveraging blockchain technology to redefine digital ownership and asset utility in gaming.

What is Altura (ALU)?

Founded in 2021 by Majd Hailat, a University of Toronto computer engineering student passionate about coding since high school, Altura quickly made a name for itself in the Web3 gaming industry. Hailat, who has over five years of programming experience, initially embarked on the Altura journey solo, driven by a vision to integrate blockchain technology into the gaming world, offering true digital ownership and value to gamers’ assets. Recognizing the need for a blend of technical and business acumen, Hailat brought on Tanner Matthews, a Canadian CPA with a rich background in audit and strategic consulting from Deloitte, as a co-founder in early 2023.

The company distinguished itself by becoming a Unity-verified solution and pioneering the introduction of Smart NFTs, marking a first in the industry. This innovation underscored Altura’s commitment to leading the evolution of gaming infrastructure, offering developers a versatile platform for game development and asset monetization through multi-chain support.

An important milestone in Altura’s history occurred on August 4, 2023, with a major update to its NFT marketplace. This upgrade enhanced functionality and interactivity for users and developers, solidifying Altura’s role in the Web3 gaming space. Through these developments, Altura continues striving towards becoming synonymous with Web3 gaming, leveraging blockchain to empower developers and provide gamers with real ownership and transferability of digital assets.

How Does Altura Work? Minting of NFTs and Marketplace

Altura streamlines the creation, update, and transfer of NFTs in gaming, making these processes accessible even without deep technical knowledge. By providing API and SDKs, Altura demystifies the integration of NFTs into games, offering developers tools to mint, manage, and secure their digital assets. This includes built-in authentication to ensure the security and trustworthiness of the NFT economy within games, simplifying user enrollment and enhancing the overall player experience.

Following the ERC1155 standard for NFTs, Altura supports many blockchains, including BSC, Polygon, Ethereum, Optimism, Arbitrum, Avalanche, and Fantom. This multi-chain support, coupled with a straightforward minting process, allows developers to choose the most suitable network for their needs. Altura’s minting options are diverse, from individual NFTs and collections to bulk NFTs and loot boxes, catering to different developer strategies and game designs. The platform encourages organizing NFTs into collections based on item types, enhancing discoverability and player engagement within the marketplace.

Key to Altura’s minting process is the concept of “lazy minting,” which allows creators to mint NFTs without incurring upfront gas fees, offering a more economical and flexible approach to NFT creation. This method supports various sales models, including whitelists and tiered sales, further expanding the developers’ toolkit for engaging with their audience. Altura also emphasizes the importance of linking minted NFTs to specific projects, enabling seamless integration and interaction with games through Altura’s APIs and SDKs.

Source: docs.alturanft.com

Marketplace

Altura’s marketplace empowers game developers and creators by offering a platform where they can launch their own branded NFT marketplaces without sacrificing their games’ unique player experience or visual ethos. This white-label solution simplifies entering the NFT space, enabling creators to quickly set up and manage a marketplace tailored to their project’s needs. The platform supports a seamless integration process, from wallet connection to project and collection creation, ensuring a user-friendly experience for developers. With support for multiple blockchains and a robust seaport contract for secure and efficient transactions, Altura’s marketplace is designed to accommodate a wide range of gaming projects.

Key features include an order-book system for ERC1155 NFTs, allowing multiple listings, and an offers system that enables buyers to make specific price offers, enhancing the flexibility and interaction between buyers and sellers. Altura supports native chain coins and stablecoins, adding versatility to transactions. The marketplace has user engagement tools like a notification system, likes, views, and customizable profiles, making it a dynamic platform for users to interact. Developers benefit from detailed NFT pages, offering comprehensive information on each asset, including history, properties, and unlockable content.

Altura’s marketplace not only serves as a bridge connecting gamers with unique NFTs but also acts as a launchpad for developers to monetize their creations effectively. With a 4% transaction fee, developers can list their games, receive royalties, and gain exposure to an audience of 50,000 players, increasing their project’s profile and reach. The platform’s user-friendly tools and comprehensive support system simplify the building and launching of a custom NFT marketplace, making Altura a valuable ally in the evolving landscape of Web3 gaming. This strategic approach to marketplace integration underscores Altura’s commitment to unlocking the monetization potential of digital assets within the gaming community.

Source: app.alturanft

Altura Use Cases

Altura leverages blockchain technology to redefine the gaming industry, offering innovative solutions that bridge the gap between digital assets and real-world utility. At the heart of its ecosystem, Altura provides tangible use cases that enhance both the developer and gamer experiences:

• In-Game Item Ownership and Trade: Players can truly own, sell, or trade their in-game items as NFTs on the Altura platform, offering a real sense of ownership and the potential for assets to appreciate.
• Customizable and Branded Marketplaces: Developers can create white-label NFT marketplaces tailored to their game’s unique ethos, facilitating direct engagement with their community and opening new revenue streams.
• Smart NFTs for Dynamic Gaming Experiences: Altura introduces Smart NFTs that can change based on in-game events or achievements, adding a layer of interactivity and depth to the gaming experience that traditional assets cannot provide.

Altura’s approach to integrating Web3 technologies into gaming paves the way for a more immersive and equitable digital ecosystem. By empowering gamers with true ownership of their digital assets and providing developers with tools to innovate, Altura stands at the forefront of revolutionizing how games are played, experienced, and monetized.

What is the ALU Coin?

ALU is Altura’s native cryptocurrency, used for transactions and governance within its ecosystem. Its total supply counts 990,000,000 units, of which 719,755,021 are currently in circulation (March 2024).

As a utility token, ALU offers users a reduced transaction fee on the Altura marketplace. Purchases made using ALU attract a 2.5% fee compared to the standard 4% charged for transactions made with other currencies. This incentivizes the use of ALU within the platform, providing a tangible benefit to its holders.

Looking forward, Altura has outlined plans to expand ALU’s utility further. By Q2 2023, introducing community tiers—Bronze, Silver, and Gold—based on token holdings is anticipated to foster a more engaged and rewarded community. The specifics of these tiers and the benefits they confer will be detailed as the rollout approaches. Further enhancements to ALU’s utility are planned for Q4 2024, with announcements to be made nearer the time.

This strategic approach to tokenomics and utility underscores Altura’s commitment to growing the ALU ecosystem and providing value to its users. While ALU facilitates reduced fees and promises future benefits through community tiers, it’s important to note that Altura does not position ALU as an investment vehicle nor guarantee any financial returns to holders. The focus remains on leveraging ALU to enhance user experience and engagement within the Altura platform.

Altura Main Features

Altura is revolutionizing how we think about gaming and digital assets by providing features designed to enhance security, interactivity, and ease of use for developers and players. From secure transaction systems to dynamic, programmable NFTs, Altura sets a new standard in the Web3 gaming ecosystem.

Altura Guard System

Altura introduces a groundbreaking approach to in-game transactions and wallet connectivity with its Altura Guard system. This proprietary technology allows players to log in and sign transactions seamlessly within games using their existing wallets, enhancing the security and overall user experience. The evolution to Altura Guard II further simplifies the process, integrating social login features and a wallet-agnostic approach, ensuring users can engage in Web3 gaming with ease and confidence. Through innovative use of OpenLogin and Web3Auth technologies, Altura Guard II offers a secure, non-custodial login system that supports any EVM chain, elevating the standard for gaming practices.

Smart NFTs

Altura’s Smart NFTs revolutionize the concept of NFTs by making them dynamic and interactive. Unlike traditional NFTs, Smart NFTs can change properties, images, and more after minting, offering developers the tools to create evolving gameplay experiences. Through Altura’s API or JavaScript SDK, developers can easily update NFT properties in real-time, making digital assets more than static collectibles.

Source: alturanft.com

Developer Tools (API and SDKs)

Its comprehensive API and SDKs enable the creation, update, and transfer of NFTs in games without deep technical expertise or significant investment. These tools, coupled with Altura’s built-in authentication mechanisms and marketplace solutions, provide a robust infrastructure for developers to secure their NFT economy, simplify player enrollment, and explore new monetization channels through custom or white-label marketplaces.

Is ALU a Good Investment?

Altura was established to innovate within the Web3 gaming sphere, introducing ALU as a utility token to facilitate transactions and interactions on its platform. While ALU currently has limited utilities, its primary role is to enrich the gaming experience and support the ecosystem’s growth. It’s crucial to understand that purchasing ALU tokens does not equate to investing in Altura. As outlined in their whitepaper, ALU is not a security or investment instrument but a utility token designed for platform engagement, emphasizing the importance of viewing ALU within its intended use case in the evolving Web3 domain.

How to Own ALU?

To own ALU, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then, you are ready to go through the steps to buy ALU.

News on Altura

According to what was reported on the official Altura blog dated 20 January 2024, Altura has partnered with HOME Verse and Singularity to launch the 9Lives Arena Marketplace. This collaboration introduces a seamless trading experience, enabling credit card payments for NFT purchases. Utilizing Altura’s wallet connection and smart NFT technologies, along with Singularity’s instant payment solution, the partnership aims to enhance the Web3 gaming experience. The marketplace signifies a significant step towards accessible and strategic gaming, marking a notable development in integrating blockchain technology into the gaming industry.

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