Don't Get Left Behind: The Future of Web 3 Gaming | Majd Hailat & Tanner Matthews DSH #537

Speaker 1 Because you don't create a sustainable ecosystem.

Speaker 1 And our big thing in the games that we like to work with, our games that we believe will create a sustainable ecosystem where people will come back and come back and keep that money within that.

Speaker 1 And then that pie will just instantly continue to grow.

Speaker 2 And essentially, the premise of a sustainable ecosystem in a video game is simply that players

Speaker 2 want to buy the assets to use them in the game, not to eventually sell them and make a profit.

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Speaker 1 All right, guys, from Toronto, Canada, we got Mej and Tanner here, founders of Altura. Thanks for coming on, guys.
Thanks for having us.

Speaker 1 Yes, let people know what Altura is about.

Speaker 2 Yeah, absolutely. So Altura makes it easy to build Web3 games.

Speaker 2 We provide a suite of tools and infrastructure that allow game developers, whether small indie game developers or massive AAA studios, to integrate blockchain-backed assets into their games.

Speaker 2 So, game development and crypto development are inherently very different.

Speaker 2 And

Speaker 2 we save these game developers and studios so much time and resources by providing the infrastructure that they need to seamlessly enter the Web3 space.

Speaker 1 Nice. How do you guys feel about the current state of the gaming market? I just saw an article about how some AAA games are struggling to profit.
Have you seen anything like that?

Speaker 2 So,

Speaker 2 I mean, this is another amazing use case for crypto. I believe crypto offers a lot of monetization options and streams for these games to make money.

Speaker 2 But I have not

Speaker 2 seen

Speaker 2 issues about AAA Studios having trouble monetizing.

Speaker 1 I think all of it might come when you look at just the way that they're making money right now with a lot of the microtransaction situation in the Web 2 space, because that doesn't offer any value to the end user or the person who's actually playing that game.

Speaker 1 For example, EA Sports is really bad for it, where you go in and everything is a purchasable thing, whether it's a deck of cards or whatever, to play like Madden or whatever it is.

Speaker 1 So, when you don't actually offer the value of that person to own that asset, over time, people are going to get more annoyed with it, which may like cause people to revolt and like not be purchasing the in-game assets at the same rate of transactions that they might have had previously, which again opens up great avenues for Web3 and what that offers because you're offering ownership and the ability.

Speaker 1 Now, if I purchase a deck or whatever, a pack, and then I get in that deck for Madden, let's say I get like a super rare, like Patrick Mahomes.

Speaker 1 Now I actually own that Patrick Mahomes and I can trade it to someone else and profit off that versus just having it in the game and it being absolutely useless outside of that

Speaker 1 actual game.

Speaker 2 But to go back to the state of the gaming industry, a lot of people don't know this, but the gaming industry is one of the largest industries in the world.

Speaker 2 So it's actually larger than the music and movies industries combined.

Speaker 1 Dang. It's like double.
It's crazy.

Speaker 2 It's double, yeah. So it's worth about $210 billion.

Speaker 2 So the gaming industry is absolutely massive and there's so much room for growth. It's one of the few industries that really catches on early technology trends and really embraces them.
So

Speaker 2 it's always on the cutting edge of processing power, always on the cutting edge of graphics power, always on the cutting edge of AI, VR.

Speaker 2 And we believe that blockchain is no exception to this and that it's going to eventually make its way into the gaming industry in a way that makes a lot of sense.

Speaker 1 I'd be curious of what a pie chart will look like of that gaming, $210 billion industry. Fortnite has to be a lot of that, right?

Speaker 2 I don't know exactly the makeup, but a lot of it is microtransactions.

Speaker 1 A lot of it's microtransactions.

Speaker 1 i'm pretty sure um like in the research that we did just like when we were doing like our tan or whatever for like investment purposes i think the average um for a lot of these large gaming studios is between like 40 and 60 percent microtransactions wow so it's a lot because if you think about people don't go to the store and like buy video games the same way that they used to everything's online so like you get the the game like virtually through like whatever store it is and then the way for them to like continue to make money because they're not making the same amount off the disk price is to have those microtransactions and move the move it away and then you have the free-to-play games like the fortnights and everything where the only way they are making money is off of like the selling of skins or whatever it is so that's what removes the the onus of everything onto that that end of that that makes sense because i've spent thousands on skins and thousands on in-app purchases like clash of clans clash royale yeah and the games are free you ever play counter-strike i didn't but the skins go for a lot i heard huge counter-strike guy that's it tell them you were nice yeah um i used to i have over three thousand hours holy yeah i was a big counter-strike player uh and i yeah i used to buy in-game items, skins.

Speaker 2 I think I spent like $5,000. Not a whole lot.
Pretty much all the money I made in high school.

Speaker 2 And that, you know, seeing items being traded for tens of thousands, sometimes hundreds of thousands of dollars in a virtual game really kind of engraved into my head that you can fully have digital scalable economies of real value in these digital worlds.

Speaker 2 And this is a concept that I believe can very much be extrapolated to a lot of digital experiences.

Speaker 1 It's a large part of the inspiration for Altura as well. Yeah, that makes sense.
Whenever I play Fortnite, it literally says you can't sell your skins in the waiting lobby.

Speaker 1 And people, there's sites to buy them, but it's like great, great market, black market or whatever. Exactly, yeah.
So they're not getting any of that money, which is crazy to me.

Speaker 1 I wonder why they don't want that. Yeah.

Speaker 2 To add on to that,

Speaker 2 when, you know, as we said, like the gaming industry is worth $200 billion and so much of that's from microtransactions, that money is sort of just the money that players are initially spending to buy those assets.

Speaker 2 And what we know is that free markets expand the

Speaker 2 kind of market capitalization. It will expand the market of in-game items to such a large extent.

Speaker 2 Once you allow players to freely trade these assets, people are much more willing to invest larger sums of money because they know that this item will retain its value to some degree.

Speaker 2 Just like people are more willing to buy watches, expensive watches, because they know that they can sell it on the secondary market.

Speaker 2 So it inevitably kind of opens up floodgates for more capital to flow

Speaker 2 into the space. So I think that by opening the world of Web3 to the gaming industry, or the other way around, opening the gaming industry to the world of Web3,

Speaker 2 that valuation, 200 billion, I think the gaming industry could be worth a lot more than what it is today.

Speaker 1 Yeah. Any Web3 games you guys have your eyes on? A lot of the ones that are working with us,

Speaker 1 shout out to a few of them.

Speaker 1 Like we have a game called Oxyo Origins, which just launched their private beta, and that went really well, and they sold out their collection for that, which is like private beta keys, um which we had to like get a key in order to play the game uh a few other space misfits uh nine lives

Speaker 1 um wag me games all these games utilize our tools um a lot of them use our entire suite of tools or just like our white label marketplace our apis sdks our minting platform and it's really cool to see what these games are doing and they're getting so much better because even since like a year ago to today you had games that like a year ago it's like a lot of it was still concept based it's like hey we're selling these collections we're using to kind of fund the operational side of the business and be able to get through the development and all the in-game mechanics.

Speaker 1 And now seeing these games actually go live and being able to play them. And they're all like launching their own tokens and doing things and getting to that point where it's like they're.

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Speaker 1 Creating sustainable ecosystems. It's exciting because like a lot of the times what you've seen, kind of, what was popular in like last bowl run, or like, with the

Speaker 1 first wave, I think the first wave of kind of games was that like play to earn where

Speaker 1 you go in, you make whatever you make, and then you take that money directly out of your game. No, it's not sustainable, which is not sustainable at all.
Because Axie crashed, right?

Speaker 1 Yeah, that was the game that was on the tip of my tongue when I think of it. But it's like, because you don't create a sustainable ecosystem.

Speaker 1 And our big thing in the games that we like to work with are games that we believe will create a sustainable ecosystem where people will come back and come back and keep that money within that.

Speaker 1 And then that pie will just instantly continue to grow.

Speaker 2 And essentially, the premise of a sustainable ecosystem in a video game is simply that players

Speaker 2 want to buy the assets to use them in the game, not to eventually sell them and make a profit.

Speaker 2 And that requires people wanting to actually play the game, be immersed in the game, and want to buy assets. Why do we buy items for Fortnite for Counter-Strike?

Speaker 2 It's because we want to actually use the items, not because we think that we can click a few buttons on a mouse for an hour and maybe sell those items for more money. Absolutely.

Speaker 2 So that's kind of the type of games that we're going after.

Speaker 2 And essentially, we believe that blockchain is the best framework, technical framework, to build these free market digital, digital free markets for video games.

Speaker 1 Yeah. Have you heard of Big Time? I invested in that one.
Big Time? Yeah, I have. I think we've talked to them.
Oh, yeah. A few times.
Yeah. I know,

Speaker 1 in conversation with them. Yeah, that was a fun one.
I put 100K in and it's held up, which is surprising for this market.

Speaker 1 Honestly, I think in both of our opinions, gaming is probably the one use case for NFTs that actually makes sense because of the use of assets in actual video games where, like, you have

Speaker 1 in the first run, you have like pictures of digital apes and all these things that did really well, but it's like, what's the actual use case for that outside of like a social club or whatever it is or whatever they're using for?

Speaker 1 And you're seeing that that's not becoming as sustainable as people might have thought. But gaming is something where these assets are sustainable and they have long-term use.
Agreed. Yeah.

Speaker 1 Board apes. Last time I checked the price, it was like 15 ETH.
Yeah. Crazy.
They used to be half a million almost. Yeah.
It's crazy to see how that stuff falls. Yeah.

Speaker 1 I knew a lot of them would. I didn't think Board Ape would, though.
I agree.

Speaker 2 I thought it would be a remain a blue chip.

Speaker 1 Yeah. Because I got a mutant and I could have sold it for 80 grand and now it's worth like five.
Yeah. I think the acquisition really kind of shook up the community.
Which acquisition?

Speaker 2 I think they were acquired recently.

Speaker 1 Oh, they were? Yeah. I'm not 100% sure.
I'd be speaking out of my

Speaker 1 can I swear? Yeah. Okay.
I just wanted to say I'm not going to go further because I don't remember the exact details.

Speaker 1 Interesting. Well, acquisitions are a tough thing to mimic that culture sometimes.

Speaker 1 I mean, look at similar lines, but like FaZe Clan and stuff like that. Yeah.

Speaker 1 Where it's like they get acquired or they go went public and it's like completely changed the aura of what they were and now they're going back to ground zero and like Facebanks is now the CEO again.

Speaker 1 Yeah. It's like everything is changing and going back.
Yeah. You fired everybody? Yeah, you fired the entire, basically the entire team.
That's just 13 left, I think. Yeah, 13.
Nuts.

Speaker 1 How do you guys feel about the crypto market? Does your company rely on that being at a good price?

Speaker 2 Yes and no.

Speaker 2 Fundamentally no.

Speaker 2 We're building software and our goal is to scale that software, sell that software. But on the other hand, a large part of Altura is the community aspect of it.
So one of the biggest kind of

Speaker 2 value angle that we offer to these game developers is a social community.

Speaker 2 Basically a large community of Web3 passionate, Web3 gaming enthusiastic people that we can use to sort of

Speaker 2 drive attention to these game developers.

Speaker 2 We do have quite a large presence in the crypto space.

Speaker 2 We are one of the largest Web3 infrastructure companies, and that allows us to really kind of provide these game developers with some sort of initial attention, initial traction.

Speaker 2 So I would say that community strength definitely kind of comes and goes with the strength of the crypto industry.

Speaker 2 But our community is very much...

Speaker 2 knows what we're doing, knows that we're sustainable, knows that we're here for the long term. And so we're not really too worried about the sways of the crypto market.

Speaker 1 Yeah, it's kind of the luck of us having having launched a token last bull run and it getting as big as it did. I think at its peak, it hit close to $500 million marketing cap.
Oh, crap.

Speaker 1 Yeah, last bull run. That's crazy.

Speaker 1 Now we're building our way back up and going through and starting from the bottom, making sure that everything from like a compliance standpoint, we're on the right side of everything.

Speaker 1 Like we don't want to run into issues. Like we try to do everything by the book as much as possible.

Speaker 1 And that's something that I think is going to help us be sustainable as we move into the long term because we're, we are like a SaaS company that does have software and we're selling that software and we also have a token, but we're doing it the right way and not like the sketchy way.

Speaker 1 Yeah, yeah. And that's like a big thing that that we step on with our token.
Like Aloo is the token. Yeah.
Yeah. Tokens are tough in the U.S.
It's really

Speaker 1 not easy. They went after every U.S.
exchange except one. Yeah, Coinbase.
They went after Coinbase, actually. Who didn't they go after? I don't know.

Speaker 1 He was at my networking event last week, but he said his exchange was the only one out of the four here. Oh,

Speaker 1 was it Gemini? Maybe it was. No, Gemini, they've gone after.

Speaker 1 If I said the name, you wouldn't even know it. It's like a small exchange.
Oh, okay. Yeah.
But U.S. just doesn't like crypto, man.
I don't know what it is.

Speaker 1 It's because it it's threatening. Yeah, it's threatening to their ecosystem and their the way that they make money because it's outside of whatever their social media is banking is.

Speaker 1 Is Canada like that? What's Canada's take on crypto? It's the same s.

Speaker 1 It's like Ontario's really bad. Like, we're probably as similar to the U.S.
when it comes to exchanges being born.

Speaker 1 It might be even a little bit worse. Like, other provinces are not as bad, like, Calgary, or sorry, Alberta.

Speaker 1 And other provinces aren't as serious. They can still use a lot of the exchanges in those provinces, but Ontario specifically, where we live, is pretty hardcore on it.

Speaker 1 So it's not federal, it's controlled by provinces in Canada? Yeah, there are federal laws, but then each province kind of has its own specific rules. Kind of similar to states.
Yeah, yeah.

Speaker 1 That makes sense. Wow.
That's tough. Yeah, I remember when we had our NFT, we had to launch the coin in, like, I forget the island cayman or something, something like that, just to be compliant.
Yeah.

Speaker 1 I didn't want to risk it in the U.S. Yeah, yeah, don't, don't.
Don't do it. End up like SBF out here.
Yeah, yeah, don't do that. I mean, you're halfway there.
You got a little bit of curly hair.

Speaker 1 Yeah, yeah. Oh, man.
But you guys survived that Web3 boom because I feel like everyone was getting involved in web three.

Speaker 1 Yeah, it was honestly credit to like maj and like the team is capital management the biggest thing that's helped Altera and our token like a loose survive has just been our ability to like properly manage cash because so many people when the bear started happening they didn't stop spending at a rate in which was conducive to the money they're making in that moment and they didn't foresee like how the future is going to continue to move forward yep and i think Mej, the Altera team, that eventually when I came on, like, we did a very good job of seeing where the market was and scaling operations to what was needed in that moment for sure we took time to build and add on to that um i believe the entire team at altura especially the the founders we are incredibly uh passionate and have a lot of belief in in what we're building uh and so we found that a lot of companies kind of died out because of lack of morale right uh lack of passion i mean founders that build a company uh for the sake of kind of riding the crypto wave uh when the bear market comes and there's no sort of uh light at the end of the tunnel for when the market's going to recover that's usually when they're going to throw in the towel.

Speaker 2 But since we really deeply believe in our vision and our mission and what we're doing,

Speaker 2 the bear market didn't really

Speaker 2 kind of weigh us down as much as

Speaker 2 a lot of companies, other companies.

Speaker 1 Yeah, lack of funds too. Companies ran out of money, like you said, because of the spending.
And we got to fall back on the fact that we have an actual product.

Speaker 1 Like a lot of these crypto companies, they don't actually have a product. It's just like, they're like a meme token, essentially.
Even if they pretend not to be, they still kind of are.

Speaker 1 Most tokens are just yeah, and we got to fall back on the fact that we still had gaming partners and people building on that side and like using our tools.

Speaker 1 So even if like the token wasn't growing at the rate that we wanted it to or wasn't like continuing to like move forward with us, we still were like signing games.

Speaker 1 Otherwise, like we have over 200 signed games or 50 games like currently building like right in this moment and about to go live. So it's exciting.

Speaker 1 I surprised to be able to fall back onto that kind of stuff. Easily.
Most tokens are straight air. Yeah.
I mean, if you think about it, they don't have anything.

Speaker 1 So the fact that you guys have these in-person partnerships with real companies, that's huge.

Speaker 1 For sure. Would you say we're like in a bear still right now, or is it considered a bull or something in between?

Speaker 2 I think we're coming out of a bear, especially with the interest rates coming down.

Speaker 2 Global economy seems to kind of

Speaker 2 be starting up again. I think we're about to enter a bull market.

Speaker 1 I hope so, man. We had a small, like there was like a small bull market.
People got like super excited in like, whatever, it was like December until like recently. The Seoul meme plan.

Speaker 1 Yeah, all that stuff even like bitcoin went from a 28k

Speaker 1 yeah to like hit a new all-time high whatever it was 69 point something k did it touch 70k i don't think so i think it did i think it went to 71 right yeah i think it passed 70.

Speaker 2 yeah but 69 was last year's ath okay so what's that like last

Speaker 1 it went whatever it passed the last whatever it was so like we hit that but then obviously there's always going to be like small pullbacks you need to have market corrections or it's unhealthy and we didn't have a market correction for so long and like the exit of this bear run into this bowl like to not have any correction it just continued to go up like that's not sustainable absolutely so like a little bit of a pullback now and then i think you kind of pull back it's like an elastic and then everything will push forward yeah i hope so how long you guys been in crypto four years okay uh 20 you know late 2018.

Speaker 1 so you got in at 20k uh yeah i mean i i was there when bitcoin reached the 3.8k during the covet oh wow and you got in at that part price point uh i would kind of dollar cost average purchase bitcoin over the last like two three years nice i only started working in crypto i guess just over a year ago now i come from like a traditional background i worked at deloitte for four years.

Speaker 1 Damn. That's a big change.

Speaker 1 I worked in audit and strategic consulting in London. Wow.
And then he found me and poached me. And then I came over and we kind of have been business partners ever since.
Nice.

Speaker 1 Having that background in the crypto space is pretty rare, I feel like.

Speaker 1 That's why I like compliance. Because I worked in audit, dude.
The amount of, especially because I worked in audit when cannabis companies got really big. And like the amount of

Speaker 1 that I've seen from auditing cannabis companies and the amount of companies have committed like pretty serious frauds and like finding that fraud and then having to like report that.

Speaker 1 it's scary and like it scares me endlessly so like i'm on i'm on him i'm on everyone about compliance and making sure that we don't get like kicked out of us good to have someone like that in the crypto space yeah really really smart hire man

Speaker 1 so in the cannabis space what were you finding like it was a lot of like i remember auditing a company that uh i was speaking with their cfo and there was like a five hundred thousand dollar purchase and i was like what is this and like his explanation was Our founder, he just like sees things and then he buys them, but he doesn't leave any paper behind it.

Speaker 1 He just does it. And I'm like, well, that's not a very strong autoresponse.

Speaker 1 And then I remember being like, I'm telling my partner at the time, I was like, this is sketchy. Like, we should look into this.
And then I think it was six months later, they got booked. No way.

Speaker 1 They got arrested. Like, I don't know if he got arrested.
I think the founder did get arrested. I can't say names.
Obviously, I'm under like certain laws.

Speaker 1 I can talk about the events, but I can't talk about the company. But they definitely, I'm pretty sure the main guy got...

Speaker 1 Got booked. And that's probably common in the cannabis space because they have the black market deals on the back end.
Yeah, it was, it was, they were sketchy. Yeah.
And like, I knew them too.

Speaker 1 Like, they, I've seen their products, especially when I lived in Vancouver. Yeah.
Like, everywhere. So.
Oh, is weed legal there? Yeah. Oh, weeds legal of Canada.
Oh, I didn't know that. Yeah.
Okay.

Speaker 1 It was made legal, I think, 2016. JT did it.
Something like that. The only good thing JT's ever done.

Speaker 1 Oh, Trudeau? Yeah. Is he still running? Yeah, he's still there.
So, how long do terms last there? As long as they keep getting elected. Really? Yeah, there's no length of time that they can't.

Speaker 1 I think.

Speaker 2 Trudeau. So how long is one term?

Speaker 1 One term's it depends. So you can have a majority government or you can have a minority government.
Yeah.

Speaker 1 So majority is four years minority is two and then you have a re-election but with the recent election so just in trudeau you got a majority and then he got um he got a minority but they had did a coalition government which essentially is like the ndp and them like work together to create a coalition so it's like run longer and then it like ran through

Speaker 1 i can't remember if there's an election in between if these won three or if these won two but i just don't understand how he keeps winning because i've never heard a canadian talk positively about him

Speaker 1 I think we've reached a point in like the social sphere of Canada where I think things are going to change and things are going to be different because it's been pushed so far in one direction that things are going to start going the other direction.

Speaker 1 But like, we'll see. I hope the new guy that comes in, if there's a new person, like they are crypto friendly, more crypto friendly, which will be good for us.
But it's all said to be seen.

Speaker 1 Everyone says they're going to do one thing and then it does another thing because

Speaker 1 everyone has an agenda. Well, they probably have some insane people in there here telling them not to legalize crypto stuff.
Yeah, yeah, yeah.

Speaker 1 There's a lot of money on the table there.

Speaker 1 Going back to NFTs, though, what's your take on these smart NFTs and what exactly are those?

Speaker 2 So

Speaker 2 Altura invented the term smart NFTs. Essentially, it's the ability for NFTs to update seamlessly, for free, and instantaneously.

Speaker 2 So if you think of traditional NFTs like the Board Apes, the image is more or less static, it doesn't change. But for the sake of gaming, that can't be the case.

Speaker 2 So in the gaming world, items need to be dynamic, items need to change.

Speaker 2 For example, you have a car and you go to a

Speaker 2 mechanic in the in the game like Grand Theft Auto, you get upgrades for that car, you you expect the actual asset to change.

Speaker 2 Or for another example, it's Counter-Strike. There's

Speaker 2 like a kill counter on the gun. So every time you get another kill, that counter kind of increments and that's built into the item itself.

Speaker 2 So smart NFTs is the ability for developers to push updates to these NFTs via our API.

Speaker 2 And everything's kind of recorded. So it's still all very it's still very decentralized.
But it allows for a lot more dynamicism with these assets.

Speaker 1 Got it. How do you guys feel about NFT royalties?

Speaker 1 It's important for us.

Speaker 1 And that's a big thing with our marketplace and our white level marketplace is that what we've seen happen with Blur and then OpenSea, like moving away from the model of being able to basically monetize on the secondary sales of your assets, like we don't believe in that.

Speaker 1 So it's big for us to allow our partners to be able to choose what their royalty fee is up to a certain percentage, whatever it is,

Speaker 1 on the assets that they sell either on our white level marketplace or on our general marketplace. It's these people,

Speaker 1 these are the ways that they're making money a lot of the time. And to be taking away that is kind of criminal, in my opinion.

Speaker 1 And it's not fair to the people that are actually producing that art or producing that asset for that game.

Speaker 1 Like they should be able to get their piece, all right, be something like reasonable, but they should be able to do that.

Speaker 1 And if they can't do that, then it creates a very unattractive industry for these people because we want to push this forward and we want to be able to do that.

Speaker 1 And if it's going to, you're going to create long-term value off of an asset, why should you not be able to make your small piece off that as it continues to grow? Right.

Speaker 2 Given the nature of the industry, there's no way to completely prevent royalty-free marketplaces and like royalty-free transactions.

Speaker 2 So what we believe at Altura is that the cost, the royalty fee, is the cost of convenience. And the way we kind of approach that is

Speaker 2 users are always going to be able to trade these assets on royalty-free marketplaces,

Speaker 2 given that they're on the blockchain and they can be integrated into the marketplace.

Speaker 2 And we don't believe in trying to stop that. We believe that these are truly free digital assets that players can do whatever they want with.

Speaker 2 But the way that we want to continue to bring these royalties to the developers is by providing white label marketplaces for the developers and then in-game transactions of these items.

Speaker 2 So if a player wants to sell their item and it's a lot more convenient for them to open up a menu in the game and swap that item, that royalty is going to be enforced there.

Speaker 2 And the player might be more willing to pay that because it's right built into the user experience, built into the game, rather than going onto another marketplace, connecting their wallet, especially if the game is on the console, on the phone, on the actual desktop.

Speaker 2 And so this makes it such that it's it's a very fair way to kind of like we're the royalty is now the cost of convenience and the cost of ease of use and the cost of maintaining user experience and user flow.

Speaker 2 So that's kind of how we plan to solve it. And this is an approach that we see is actually working very well.

Speaker 1 Nice. What's the plan on scaling this thing? I know you got Project Jupiter Grant Fund.
You guys got some stuff going on there.

Speaker 1 Yeah, I guess first thing to talk about, probably the Grant Fund, this is probably the thing we're most...

Speaker 1 excited about that in Project Jupiter, but the grant fund's cool because what we're doing is we're actually starting a $1 million gaming grant fund that is going to be voted on by the community.

Speaker 1 So each month, we're going to have 50K that we're giving away to a game that applies.

Speaker 1 So games will be able to apply, basically say what their game is, how they're going to use Altura, what the purpose of this money is, blah, blah, blah, go down the line.

Speaker 1 And then they'll go into like a voting situation.

Speaker 1 And then basically for if you own like our token, Alu, one Alu equals one vote, and you'll be able to vote on the game that you think deserves to get that gaming grant from. for that month.
Got it.

Speaker 1 And then they'll be able to have that money and we'll track and see how that game is doing, how they're using Altura, and use that to kind of continue to further the gaming experience and the gaming improvement of these games over a long term.

Speaker 1 Nice. And then Project Jupiter is its own piece entirely.
Classified. I don't think we should talk about classified.
Classified? It is classified. It depends.

Speaker 1 I think with the rollout time, I don't know if we have enough lead time. We want to make sure that it launches at this correct time.

Speaker 1 Project Jupiter is something that we think is going to reimagine

Speaker 1 how people play Web3 games entirely. Wow.
We're very excited about it. So it might incorporate some VR?

Speaker 2 No.

Speaker 1 No.

Speaker 1 It's more so on the transacting side of things and creating the user experience that, like we said, creates convenience and creates an environment that you don't feel like you're being taken out of the gaming experience, which is kind of what's happening with a lot of these games

Speaker 1 right now.

Speaker 1 In order to play the game, in order to make a transaction, you're taken to a separate browser, you're doing things, and you're not actually completely immersed in that experience.

Speaker 1 And that's something that we want to make sure that we're

Speaker 2 one of our biggest goals with Altura is to remove as much friction as possible while maintaining the ethos of blockchain and crypto, both on the user side and the developer side.

Speaker 2 So we very much believe that blockchain is the best technological framework to build global, scalable, digital, free markets.

Speaker 2 But given that it's such a new technology, there's so much friction in the space.

Speaker 2 And for us to really kind of take Web3 gaming to the mainstream, we need to eliminate a lot of that friction. So our goal is, you know, Web3 gaming is not going to be a thing.
It's going to be gaming.

Speaker 2 And a lot of sick games are going to have digital, crypto-digital assets.

Speaker 1 Yeah, because that's what's going to make it successful. At the end of the day,

Speaker 1 although like Web3 gaming is a narrative right now, or crypto gaming, however you want to look at it, at the end of the day, it's no different than the initial like what was microtransactions back in like 2000, I think it was 2006 or 2007 when the first microtransaction happened.

Speaker 1 In the game, I think it was for like some sort of armor or whatever, and people hated it. They were like, what is this?

Speaker 1 And then by like 2010, the boom of like mobile gaming, market transactions were absolutely everything. And that's how like some games were making like 80 to 90% of their profit.

Speaker 1 And now it's like grown into what it is today with like these free-to-play games and such. It's no different than what Web3 gaming is going to be.
Right now it's niche and it's different.

Speaker 1 And especially with kind of the sphere of how people look at crypto and Web3, like it hasn't had its day yet.

Speaker 1 But once it becomes a technology that people can just like plug and play and just becomes part of the game in the background, you don't have to actually think about having a wallet or think about like, how are you going to get this digital money or do all that?

Speaker 1 And it just becomes completely immersive and part of that experience. It's when crypto gaming just becomes gaming and it becomes something that is sustainable and can reach a longer, larger audience.

Speaker 1 Right. I could see that.
Yeah, because people hated NFTs at first. Yeah.
I mean, it got so much hate on social media. For good reason.
Yeah. I don't think they're.
We know, like, we don't.

Speaker 2 We think that a lot of the first wave of NFTs was very

Speaker 2 deserved a lot of hate. But that's not really what we're going after.

Speaker 1 Yeah, that's not the market. We want to create something that

Speaker 1 takes an industry forward. Like, we get, we feel like we're playing in like the early 2000s of like the dot-com boom with what we're doing.

Speaker 1 Like we're creating the ways in which people are doing things that are going to be completely different from how they did it before. Love it.
And we're part of that.

Speaker 1 We get to like carve out an industry together and it's something that we look forward to every single day. That's exciting.
How do you guys feel about the metaverse?

Speaker 1 Because I got a ton of hype and I feel like it died down.

Speaker 2 Yeah, I think we're honestly I don't know

Speaker 2 I can see immersive virtual experiences definitely being a part of the future, but I think it was very much overhyped.

Speaker 1 I think people just jumped in the narrative to to what it is. So quick.
It's like, I think they say with tech.

Speaker 2 It's the biggest overhype and bust I've ever seen.

Speaker 1 Same. It was crazy.
It was fast.

Speaker 2 Everyone was talking about it so passionately. Yeah.

Speaker 1 I mean, how much money did Facebook use lose? Yeah, billions, right? Yeah. Sandbox raised a lot.
Duck had to grow a beard after that.

Speaker 1 He had to say he wasn't an alien. Yeah.
And now the Oculus kind of flopped too, I think. So the new one.
Yeah. It's, I mean,

Speaker 1 the release of the Apple Vision Pro probably didn't help any of that stuff. Yeah.

Speaker 1 Well, that flopped too, didn't it? Did it? I don't know. I don't see anyone.
We have one. Oh, you have one? Yeah.

Speaker 2 I mean, I don't use it.

Speaker 1 Exactly.

Speaker 1 It was cool for about a week. Yeah.
There were so many YouTube videos made for it for like about a week and on like Twitter, Instagram, Reels. But now I don't really see anyone using it.

Speaker 1 I wonder if we're just too ahead or two behind. I don't know.
I mean.

Speaker 2 It's hard to tell if

Speaker 2 it's an actual something that's going to catch on and be a part of our day-to-day use or if it's like a gimmick. It's really hard to tell.

Speaker 1 Yeah, it's, man life is cool like actually just going outside is and touching grass isn't that bad oh

Speaker 1 so yeah i think that it's hard to beat life right yeah

Speaker 1 i yeah i take video games over oculus for sure yeah the graphics aren't good yeah yeah it's hard to beat eventually it just it takes time yeah you can't rush people try to rush to get to market because they want to be they want to get that first mover advantage but

Speaker 1 it has to it has to be the right combination of timing as well as tech being at the right point in history absolutely anything else you guys want to talk about with Altora?

Speaker 1 Any upcoming things?

Speaker 1 Upcoming things.

Speaker 2 I think Jupiter and the grant fund is two of the biggest things that's upcoming.

Speaker 2 Exchange listings.

Speaker 1 Lots of exchange listings coming up. Lots of things we're working on.
Obviously, like right now, I think our token's doing daily volume between 13 and 14 million. Wow.

Speaker 1 Traded on currently, I'm not sure. It's like 10 centralized exchanges as well as decentralized exchanges.
And we're moving.

Speaker 2 Altura have more coming out.

Speaker 1 Yeah.

Speaker 1 Lots of things happening. Like, we,

Speaker 1 We love our community.

Speaker 1 It's the reason that we get to do what we do every single day is because these people have supported us since the beginning and allowed us to be able to be in the position we are now.

Speaker 1 So we want to give back.

Speaker 1 And I mean, I think we're both bad at it from time to time because we are active with the community, like giving dates on things or saying certain things with that we kind of get over advantageous because we believe in this product so much and we believe in what we're doing.

Speaker 1 And then you have minor setbacks or not even setbacks, but like, for example, the market pulled back.

Speaker 1 So like you should not release a product in crypto when the market's down because it loses all its attention. For sure.
Like, you need to coincide launches and stuff with a more bullish market.

Speaker 1 And so, like, we had to reevaluate our timing on things. And that has, obviously, people are like, oh, you said this, you said that date.

Speaker 1 But it's like, we want to make sure that we're going to get the most value for the things that we're releasing because we don't want things that we think are evolutionary within the gaming space, the Web3 gaming space, to just fall flat in its face.

Speaker 1 We want to make sure that it gets the audience that it deserves. That makes sense.
What's the website for people watching this? We'll link it below.

Speaker 2 AlteraNFT.com.

Speaker 1 Soon to be Altera.com. T-U-R-D.
Copped it. Yeah.
We just bought it.

Speaker 1 That guy must have made a killing.

Speaker 1 That's a good name. Yeah.

Speaker 2 Yeah. We worked on it for like five months.

Speaker 1 Wow. To get this deal, and then we finally got it.
And I don't know. I think it's going to be over the next 90 days that we get it integrated, but currently we're still altera nft.com.

Speaker 1 You'll always be able to access us through that link. Like we'll just figure out it.
Yeah. But we will soon, very soon, have altera.com and hopefully also have alter on Twitter.
Love it.

Speaker 1 If you're into gaming, guys, check them out. Thanks for coming on.
Thank you so much for having me. Thanks for watching, guys.
As always, see you tomorrow. Bye.