Altura

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Discover Altura's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Altura?

Altura (ALU) is a blockchain project that enables the creation, trade, and integration of smart NFTs into games and applications. It aims to redefine digital ownership and asset utility in gaming by providing true ownership and transferability of digital assets. The ALU token offers reduced transaction fees on the Altura marketplace and is planned to have additional utility through community tiers and governance.

How is Altura used?

Altura (ALU) is the native cryptocurrency of the Altura platform, a gaming-focused smart contract platform that enables developers to mint, distribute, and transact Smart NFTs as in-game items. The ALU token is used for several purposes within the platform:

  1. Fees: Developers use ALU to pay fees on the Altura platform.
  2. Smart NFT Creation and Upgrades: ALU is required to create and upgrade Smart NFTs, which are dynamic Non-Fungible Tokens that can vary depending on circumstances.
  3. Governance: The token is used for governance purposes, allowing holders to participate in decision-making processes.
  4. Service Fees: ALU is used to pay service fees on the platform.
  5. Trading: The token is used for trading NFTs in the open marketplace provided by Altura.

How do I store Altura?

To store Altura (ALU) tokens, you have two primary options:

  1. Store on an Exchange: Holding your Altura tokens on an exchange provides convenient access to various investment products and features, such as spot and futures trading, staking, and lending. The exchange will securely manage your funds, but ensure you choose an exchange with strict security measures in place.

  2. Non-Custodial Wallets: For enhanced security and control, you can store your Altura tokens in a non-custodial wallet. This grants you complete control over your private keys, but you must securely store these keys to avoid losing access to your tokens. You can use hardware wallets, Web3 wallets, or paper wallets.

Each method has its pros and cons, so consider your needs and preferences when deciding how to store your Altura tokens.

How to buy Altura?

To buy Altura (ALU) tokens, follow these steps:

  1. Choose a Reliable Exchange: Select a trustworthy and reputable cryptocurrency exchange that supports Altura (ALU) purchases. Popular options include Gate.io, KuCoin, MEXC, and Binance.

  2. Create an Account: Register on the chosen exchange by providing the required personal information and setting a secure password. Enable two-factor authentication (2FA) for added security.

  3. Verify Your Identity: Complete Know-Your-Customer (KYC) verification, which may require providing additional personal and identification documents. This step is necessary to access more features and services on the platform.

  1. Add a Payment Method: Set up a payment method such as a credit/debit card, bank account, or other supported options. The specific information required may vary depending on your bank's security requirements.

  2. Buy Altura (ALU): Use your added payment method to purchase Altura (ALU) directly with fiat currency if supported. Alternatively, you can buy a popular cryptocurrency like USDT and then exchange it for Altura (ALU).

  3. Set Up a Wallet (Optional): If you prefer to buy Altura (ALU) through a crypto wallet, download a reliable wallet app, create a new wallet address, and ensure you have the seed phrase securely stored. You can then purchase Altura (ALU) using a supported payment method within the wallet.

  1. Trade or Hold: Once you have purchased Altura (ALU), you can hold it in your exchange account or wallet, or trade it for other cryptocurrencies.

Remember to research and compare fees, security features, and supported currencies before choosing an exchange, and always be cautious of market risks and price volatility.

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History of Altura

Altura (ALU) is a blockchain project that focuses on the creation, trade, and integration of Smart NFTs into games and applications. Founded in 2021 by Majd Hailat, a computer engineering student from the University of Toronto, Altura aimed to integrate blockchain technology into the gaming world, providing true digital ownership and value to gamers’ assets.

Initially, Hailat worked on the project solo, leveraging his five years of programming experience. However, recognizing the need for both technical and business expertise, he brought on Tanner Matthews, a Canadian CPA with a background in audit and strategic consulting from Deloitte, as a co-founder in early 2023.

Altura quickly gained recognition in the Web3 gaming industry, particularly for its innovative introduction of Smart NFTs. These dynamic and interactive NFTs marked a significant milestone in the industry, showcasing Altura’s commitment to evolving gaming infrastructure.

A major update to Altura’s NFT marketplace occurred on August 4, 2023, enhancing functionality and interactivity for users and developers. This update solidified Altura’s role in the Web3 gaming space, furthering its goal of becoming synonymous with Web3 gaming by empowering developers and providing gamers with real ownership and transferability of digital assets.

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How Altura works

Altura (ALU) is a blockchain project that aims to revolutionize the world of Non-Fungible Tokens (NFTs) by introducing smart NFTs. These smart NFTs are designed to have dynamic properties that can change based on certain conditions, making them more versatile and useful than traditional NFTs. The project focuses on the gaming industry, enabling game developers to connect with gaming communities worldwide and promote their games through a marketplace where they can mint, distribute, and transact these smart NFTs.

The native utility token, ALU, is used for transactions on the Altura NFT marketplace and for governance, determining the direction of the platform. It is supported on the Binance Smart Chain and can be purchased on Pancake Swap with Binance tokens. The token's utility provides users with the means to transact on the platform, whether buying or selling, similar to other in-game currencies like Robux from Roblox.

Developers can benefit from receiving ALU commissions for their in-game items, and the token is also used to pay for gas fees when transacting. The project aims to create an easy-to-use interface and API for creating smart NFTs, an open marketplace for transacting NFTs, and truly random smart lot boxes to the blockchain.

In essence, Altura (ALU) is a blockchain project that leverages smart NFTs to enhance the gaming experience and provide a new level of interaction between game developers and players.

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Altura's strengths

Altura (ALU) has several strengths that make it an attractive investment opportunity:

  1. Unique Use Case: Altura is a blockchain-based platform that enables the creation, trade, and integration of smart NFTs, particularly in the gaming industry. This unique focus on NFTs and gaming sets it apart from other cryptocurrencies, providing a tangible use case that can drive adoption and growth.

  2. Reduced Transaction Fees: 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, incentivizing the use of ALU within the platform.

  3. Community Engagement: Altura has outlined plans to introduce community tiers based on token holdings, which will foster a more engaged and rewarded community. This strategic approach to tokenomics and utility underscores Altura’s commitment to growing the ALU ecosystem and providing value to its users.

  1. Security and Ease of Use: 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.

  2. Potential for Growth: With a relatively small market cap and a large number of holders, Altura has significant room for growth if it gains momentum. The potential for listing on larger exchanges and the growth of the Binance Smart Chain gaming ecosystem also contribute to its growth prospects.

These strengths, combined with its unique use case and focus on enhancing user experience, make Altura (ALU) an attractive investment opportunity in the cryptocurrency space.

Altura's risks

Altura (ALU) carries significant financial risks due to its high volatility as a cryptocurrency. According to InvestorsObserver, Altura has a high risk score, indicating that it is a relatively high-risk investment. This score is based on a proprietary system that calculates the amount of money required to move the price over a 24-hour period, considering changes in volume and market capitalization. This analysis suggests that Altura's price can potentially be easily manipulated by limited trading activity, making it a high-risk investment.

Additionally, Altura's price can fluctuate significantly over short periods. For instance, it has been reported to have lost 20.51% in a single day, demonstrating its susceptibility to market fluctuations. Furthermore, some sources have noted that investing in Altura, like any cryptocurrency, carries significant risks due to extreme volatility.

These risks underscore the importance of thorough research and careful consideration before investing in Altura or any other cryptocurrency.

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Did Altura raise funds?

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Altura’s team

  • Majd Hailat: Founder and CEO of Altura, experienced in the gaming industry and blockchain, with a history of designing fast and simple applications and hosting the Eager Money YouTube channel.
  • Maxim: Co-founder of Altura, experienced in the gaming industry and blockchain, with a background in administration and investing in cryptocurrency.
  • Martin: CEO of Cryptomeda, supporting Altura's vision for the NFT sector.
  • Vishal: From Chaincade, appreciating Altura's unique platform for efficient game development.
  • Joe Black: From Metalands, highlighting the potential of Smart NFTs for robust and open NFT systems.
  • Khaled Salem: CTO of WAGMI Games, collaborating with Altura for a seamless and user-centric marketplace.
  • Ralph Laemmche: CEO of 9Lives, recommending Altura for custom marketplace and NFT integration.
  • Sam Grilli: COO of Kingdom Karnage, utilizing Altura's API for real-time NFT upgrades.
  • Shipon Chowdhury: CEO of MetaXSeed Games, partnering with Altura for innovative solutions in web3 gaming.
  • Zombie Guillotine: From AME Studios, integrating Web3 into their game using Altura's platform.
  • Oleg: From Artyfact, integrating Altura as the first NFT marketplace in the Artyfact Metaverse.

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