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Altura NFT Revolutionizes Gaming Industry Through Blockchain Technology
Altura NFT revolutionizes the in-gaming industry as it changes how game creators and gamers think about it, an approach that could change the manner in which one experiences gaming.
The last decade has seen unprecedented growth in the gaming business. The total value of the sector is predicted to exceed $300 billion, according to Accenture.
An estimated 500 million gamers entered the industry in the last three years, which catapulted the interest of investors to back startups and firms that are modifying the gaming industry.
Gaming businesses revert from being product-centric platforms and move towards experience-oriented platforms due to the inception of new gaming platforms and growing populations, explained Seth Schuler, Accenture’s Software & Platforms industry group, based on the aggressive stance of gaming in the entertainment industry.
With the evolving requirements of new gamers and the dominant role of gaming loyalists, the gaming sector must equilibrate the requisites of the former with online interactions and the expectations of the latter of whom are the industry’s most loyal customers.
The gaming community is not only expanding, but its players are also changing its taste when it comes to what they want. Before, gaming was intended for leisure purposes. Currently, it has become a source of funds, which influenced the boom of specialised sectors such as Esports and the live-streaming of video games. This financial aspect has prompted gamers to be more enthused with their virtual experiences, and companies can no longer do away with their expectations.
Giants in the game industry have learned the business the hard way. One of these is EA games, where players were enraged in 2017 because they used loot boxes in various titles. As a result, EA Games no longer allow in-game purchases.
The repercussions received by EA games because of their actions were not unique to the said game creator. The past decade has seen worldwide gamers who communicated their discontent with the increased frequency of loot boxes and other in-app purchases in their favourite games.
Video games have practised randomness for a long period already. However, it has been proven to be an unwanted strategy when players are charged. This is disturbing because gamers who purchase in-game assets directly or through loot boxes do not own their purchases. It is better to say that the games “rent” assets rather than buy or earn them since creators can change the assets, discontinue support for the game, or ban players.
To modify this situation, Altura NFT is venturing to provide gamers real ownership of their in-game assets through blockchain technology. The firm believes that if developers were to create non-fungible tokens (NFTs), this would transform how developers and clients interact, which would result in digital goods purchased having real value.
Altura seeks to provide simple methods for minting non-fungible tokens to serve as in-game objects. This will make players enjoy the game better. In addition, it seems to create Smart NFTs, which are dynamic NFTs that could be changed in acknowledgement to real-world situations, function-call-based conditions, or time-based circumstances.
An open-source project, Altura NFT has simple APIs that develops a highly transparent protocol that will allow NFT production with a high granularity level. A possible scenario would be that developers might create a transaction tax that holders would pay for ownership, making a new revenue source.
Real Money Trading (RMT) is a big no-no to game makers because these developers think it provides hackers and gamers with that opportunity to engage negatively. However, this influenced the creation of illegal marketplaces and the sale of accounts.
Altura NFT uses a strategy that removes the need for illegal marketplaces by providing developers with the transparency that blockchain technology offers, thus wiping out the need for such illegal markets.
Creators and players own assets as a result of this interaction. Developers can decide on how games can utilise assets, while players can trade with these assets via platforms like Bitcoin Revolution. Gamers do not have to worry about loot boxes and depend on the developer’s word since Altura NFT takes care of the algorithm.
Altura NFT has gained attraction from investors and has profited from it, as depicted by the value of its ALU cryptocurrency, which surged by more than 500 per cent in less than 30 days.