Altura (ALU) is the native token of the Altura NFT marketplace and smart contract platform. Launched in 2021, Altura provides tools and infrastructure for creators, brands, and developers to easily mint, sell, and leverage NFTs on the Cardano blockchain. The ALU token facilitates transactions, governance, and rewards within this ecosystem.
In this guide, we’ll explore the utility, technology, and outlook for the Altura cryptocurrency.
Overview of Altura Platform
The Altura platform utilizes Cardano to create an efficient NFT marketplace and ecosystem with lower carbon footprint. Key features include:
- Multi-chain NFT Marketplace – Trade and auction NFTs built on Cardano, Ethereum and other chains.
- Liquidity Pools – Earn yields for providing liquidity on NFT/token trading pairs.
- Token Launchpad – Projects can raise capital via IDO model.
- Royalties Engine – Customizable smart contract royalties for each NFT resale.
The platform provides easy NFT creation, minting and blockchain deployment without coding.
Utility and Function of ALU Token
As Altura’s native token, ALU has several key utility functions:
- Pay platform fees for transactions like minting and trading NFTs.
- Stake ALU to boost IDO participation eligibility and earn yields.
- Community governance of the Altura platform through voting.
- Incentives and rewards for active users and liquidity providers.
- Payment currency accepted for NFT purchases.
This utility aims to create sustainable demand for ALU.
ALU Token Distribution and Supply
The max supply of ALU is 1 billion tokens. The initial circulating supply was 258 million ALU, allocated through public sales events and liquidity bootstrapping.
New ALU enters circulation through staking rewards and community incentives. The founders’ share is locked for 1 year. This prevents excessive initial dumping and aligns incentives.
Growth Potential and Roadmap
Altura has strong interest from major brands for launching branded NFTs. It also provides Cardano native NFT capabilities earlier than competitors. These strengths could drive adoption.
Planned developments include multi-chain bridges, DEX and AMM integrations, fractionalized NFTs, and optimized UX for creators minting in volume. More use cases would further increase ALU utility.
Today Altura offers a robust gateway into NFTs on Cardano with user-friendly tools for creators and brands. As this ecosystem evolves, ALU has potential to emerge as a leading utility token for the Cardano NFT vertical. The combination of staking rewards, platform fees, and growth potential provide solid fundamentals.