Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Concludes
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens serve as the backbone of in-game economies, providing rewards, governance, and empowering players to have full ownership of their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as top performers. These tokens are not only leading the way in blockchain gaming innovation, but they are also attracting investors seeking potential opportunities.
1. Floki Inu (FLOKI)
Originally created as a meme token, Floki Inu is now working towards establishing itself as a competitor in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
The process is as follows: Valhalla players can participate in battles and complete different in-game tasks to earn FLOKI. They can use this token to purchase in-game weapons, armor, and NFTs that act as Valhalla assets. Additionally, there is a governance feature being developed that would give FLOKI holders the ability to impact the game's future.
By 2024, Floki Inu has experienced significant growth, with noticeable increases in value over the past 30 days and year. The circulating market capitalization of FLOKI is $1.33 billion, and more people are showing interest in the cryptocurrency as it gains popularity.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. By using zk-rollups technology, IMX enables gas-free minting and trading of NFTs, making it a great option for blockchain games. Its efficiency has attracted gaming projects such as Gods Unchained and Guild of Guardians to use the platform.
Immutable X is a popular option for developers and gamers due to its zero-fee transactions and fast scalability. It utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X may be a promising investment for potential growth in 2024, especially as more games become part of its ecosystem.
Gala Games is an online gaming platform that utilizes Web3 technology to allow players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be rapidly increasing, particularly on user-friendly platforms such as Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI is a blockchain and token that is highly regarded in the Web3 gaming community for its emphasis on intricate, top-notch games and its scalable approach. It operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security with Arbitrum's scalability and incorporating a gaming-specific layer, XAI aims to offer a unique gaming experience.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by interacting with their screens. This straightforward and unique earning method has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently and has been increasing in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, making it likely to continue being an important player in the GameFi token ecosystem.
In summary, the gaming sector in Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve various purposes such as enabling in-game economies, facilitating active governance, and supporting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that the market for these tokens can be unpredictable. It is advised for readers to conduct their own research before making any investments in this space.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively communicate complex ideas in his articles in an engaging and informative manner.
Browse through all the
Other articles you may find interesting include a guide on how to make money from Web3 games and a list of popular Web3 gaming tokens to keep an eye on in 2024. Additionally, there are stories on earning rewards after an airdrop and different ways to generate passive income through cryptocurrency in the upcoming year. It's important to note that the information provided on this blog is meant for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions and views expressed in the articles belong to the authors and may not necessarily represent the official stance of NFT News Today.
Sign up for our newsletter!