Forget cryptomining; that’s old news! Turn your attention to ‘Banksters’, a new crypto game that has gamified mining on the blockchain. Crypto games have mainly focused on trading cards and adventure gameplay, so it could be considered a breath of fresh air in terms of style.
We sat down with Alex Altgausen, one of the key players behind Banksters, to learn more about their Metaverse experience and the team behind this upcoming prospect!
Hi Alex, it is great to speak with you and thank you for taking the time out of your day for this interview. Firstly, could you please introduce yourself to the readers at home.
Alex Altgausen: My pleasure! My name is Alex Altgausen, a former co-founder of StormGain, a renowned Crypto Trading Platform. I have recently embarked on a new venture in the realm of Play&Earn Gaming. My objective is to introduce a unique concept that combines the elements of gaming and trading in a gamified trading game.
Tom France: Banksters is taking on the Play-To-Earn world in full force. Coming around at a time when many outsiders may have thought crypto and crypto gaming coils have died out.
Can you explain what Banksters actually is?
Alex Altgausen: Well, crypto is quite a volatile market. There will be ups and downs just like any other instrument out there – so It is not a dead end when the market decides it’s time to go down. We need to acknowledge that Blockchain is the way to build a modern society where there is no authority in charge, but the people. I believe it is open to extremely interesting projects that will combine the digital sphere with the real world. Banksters is all about that trend.
Banksters is a PvP game that explores the world of fantasy trading, where players predict the market flow, influence it, and earn rewards.
Players can choose their avatar – so called ‘Banksters,” with special powers to impact market rates, customize it, mine in-game currency, and use it as an entry fee to win Investment Runs. Players can also challenge their friends and other players to know who the best Bankster is.
Tom France: You have quite the back catalog of previous ventures on the blockchain.
Could you explain what they are briefly and how they exactly came about?
Alex Altgausen: Indeed, not just me, but the whole team has worked on top trading platforms, stock trading, and even centralized crypto exchanges. In regards to development, our team has significant experience in WEB2 development, WEB3 building, and most importantly, gaming development. We have success stories backing our experience, and all of us have brought maturity and success to the previous products that we launched or managed.
With such a wealth of experience and a proven track record, we are well-equipped to tackle the challenges and opportunities presented by the intersection of gaming and trading. We are excited to leverage our expertise in order to gamify the trading experience and create a groundbreaking platform.
Tom France: You seem to be really pushing boundaries with your approach to blockchain gaming.
Where did the idea for Banksters come from and did you ever think it would materialize into what it is now?
Alex Altgausen: Many of our core team members have played pivotal roles in the successful launch and management of trading platforms, stock investment platforms, and centralized crypto exchanges. Through our collective experience, we have recognized a common challenge: a decline in user engagement and enjoyment among traders. It is this realization that has led us to conceive of a novel idea: to provide traders with the opportunity to engage in skill-based gameplay and compete against each other, all while being rewarded for their achievements.
By combining the excitement of gaming with the dynamics of trading, we aim to revolutionize the trading experience and reignite the passion of traders worldwide. Our vision is to create a platform that not only facilitates financial growth but also fosters an interactive and enjoyable environment for traders. The game is an aspect of the “gamification of life”.
Tom France: So far you have had a successful roadmap despite the Banksters crypto game only being unveiled in November of 2022.
What future updates have you got in store for the project?
Alex Altgausen: To date, our team has successfully achieved and delivered all the milestones outlined in our roadmap. We remain committed to providing ongoing updates and upgrades to enhance the user experience on our platform. As we continue to listen to the needs and desires of our audience, we are dedicated to onboarding exciting features that our users eagerly anticipate.
So far, everything in the roadmap has been reached and delivered. We will have more and more updates and upgrades for our users, onboarding interesting things that our audience is looking forward to. Big news will come up, so i recommend everyone keep an eye on our social media for what’s about to come.
Tom France: Nothing is ever truly easy in Web3 as you will know and may have experienced.
Have you come across any hurdles in the development of Banksters? How exactly do you overcome them?
At the end of the day you will need to have a very good team to handle these kinds of hurdles, without an experienced team the product and project will have difficulties. My straight answer is the ‘’team’’. If you have a good team, nothing can hold you back in terms of legal, blockchain, development, marketing, community, etc.
Tom France: Many games have turned to the ‘Play-To-Win’ formula as we have seen with games like Roblox & Call of Duty etc.
Do you think Play-To-Earn can change the status quo of the wider gaming industry, once utilized more by the likes of Activision, Nintendo, Microsoft etc?
Alex Altgausen: In my opinion any P2E game can easily become a P2W, it’s just a matter of what that Gaming project targets. Usually P2E is mostly in the WEB3 space, and it can have some legal implications. We might see a transition, however regulations will dictate how that will move along.
Are there any Web3 projects you have enjoyed personally?
Tom France: (clarifies) Anything from gaming, NFTs, art, digital fashion etc.
Alex Altgausen: Yes, of course! Basically you can’t be a WEB3 project founder if you have not used NFTs or identified other great projects. However, It would be strange to specify the exact names. I am an NFT holder of art, gaming and many other areas. As project founders we should always show support for other projects too.
Tom France: A large percentage of Web2 gamers are yet to even try Web3 gaming, let alone be convinced!
What do you think is holding Web3 Gaming back? What are the necessary steps to change the status quo?
Alex Altgausen: There is a prevalent misconception surrounding the swift transition of WEB2 gaming projects to WEB3. In my personal view, this shift will undoubtedly occur over time. It is crucial to recognize that the adoption of WEB3 represents unfamiliar territory for many stakeholders, and it can be challenging for established entities to take the leap from the stability of WEB2 to the uncertainties of WEB3. Protecting one’s reputation in the current landscape of WEB2 is a primary concern, making it difficult for some to fully embrace the potential of WEB3 and NFTs immediately.
It is reasonable to anticipate a gradual progression towards embracing the aspects of blockchain security within existing gaming projects, as a first step towards the adoption of WEB3 technologies. This cautious approach allows for a careful integration process while preserving the reputation and interests of these projects. While a few pioneering projects have already commenced this journey, it is important to acknowledge that the complete transition to WEB3 will require a significant amount of time and effort.
Who would you like to be seen thrown into Web3 gaming? The likes of Atari and Konami have already shown their commitment to the blockchain.
Alex Altgausen: As mentioned earlier, this will take time. Showing commitment is not starting to build on WEB3 tomorrow. We are talking about 2 companies that have been on the market since the 70’s. They can’t ‘’infuse’’ blockchain just like that, otherwise they risk jeopardizing their 50 year old businesses. They will need to hire blockchain advisors, tech departaments, as well as to identify good partners to make it happen.
And as for the games I would like to see in WEB3, to be honest all of them. The blockchain tech can move their products and security to a new level. However, like I said before, this will indeed take time.
Would you say that investing in crypto gaming is similar to that of normal crypto and NFT investing? What are the differences would you say?
Alex Altgausen: There are notable distinctions to be made when investing in NFTs versus Gaming NFTs.
Investing in Gaming NFTs entails a commitment to utilizing them within the game or speculating on the performance of gaming collections within the open market. However, one critical challenge that Crypto Games have yet to fully address is the token rewards algorithm, which often exerts downward pressure on prices. While a select few projects have managed to maintain stable pricing, the majority have been adversely impacted by market fluctuations. It is crucial to address this issue moving forward to ensure the sustained confidence of investors in Play&Earn (P&E) and Play-to-Earn (P2E) games.
By implementing effective strategies to mitigate the impact of market volatility on token rewards, the gaming industry can instill greater trust and confidence among investors.
Addressing this concern is pivotal for the future success and widespread adoption of P&E and P2E games.
Source: @BankstersNFT | Twitter
What was your first exposure to the blockchain? Did you ever expect to be fronting a successful Web3 game?
Alex Altgausen: It happened around 5-6 years ago. Only a few could have foreseen the emergence of blockchain as a fully-fledged industry. The astronomical rise of digital assets like Bitcoin, surging from less than $1 to over $60,000, was beyond anyone’s wildest dreams. In light of this transformative landscape, my personal objective has been to spearhead and support a project that possesses the potential to revolutionize the industry.
I firmly believe that Banksters is precisely such a game-changing project.
Esports and crypto gaming are slowly becoming interconnected, do you have plans to turn Banksters into a competitive game with regular leaderboards and leagues?
Alex Altgausen: We are actively implementing these initiatives in real-time. Our commitment to fostering an exceptional community is exemplified by our distribution of over $25,000 in rewards to date. Through our comprehensive range of challenges, including daily, weekly, and live challenges, we have set ourselves apart from other gaming projects in the industry.
By consistently providing engaging and interactive experiences, we strive to create a distinctive gaming environment that captivates and rewards our community members. These ongoing challenges serve as a testament to our dedication to delivering an unparalleled gaming experience.
We are seeing Play To Earn move onto consoles, will Banksters be adapted for console gamers?
Alex Altgausen: Of course! I think this should be the aim of every WEB3 game out there, however, first we need to continue to drive traffic to our APP and WEB, then we can potentially pivot into exploring a console port – it’s just about the correct timing and audience.
Tom France: As a key figure pushing the expansion of crypto gaming you see it from a top down perspective.
What’s the biggest misconception of the industry you had before starting Banksters?
Alex Altgausen: I think the biggest misconception is the fact that there are a lot of ‘’fake’’ hopes. Not all projects will have a good token, or a good NFT. There are actual steps to get there, including a good marketing team and good partners. Banksters is fully committed to getting there, since we have the right ‘’recipe‘’ to make this happen.
What’s the most common misconception you hear from outsiders too who are unsure?
Alex Altgausen: The only one I could think of, is actually the trust some users/investors give to some projects. I think every investor should dive deeper into what they invest in. Trust is an important thing that should be addressed, and product/project founders should be transparent about that.
There we have our interview with Alex Altgausen, founder of Banksters! We can’t thank him enough for giving us insight into the Banksters metaverse and his plans for the future with the new project. Be sure to check out our other crypto gaming and Web3 content if you liked this interview!
About Post Author
