Top Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have full ownership of their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens showing strong growth. These tokens are not only advancing the use of blockchain technology in gaming but are also drawing the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originated as a meme token but is now aiming to establish itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the ability to earn and use FLOKI tokens.
The process is as follows: Users of Valhalla can participate in battles and complete different tasks within the game to earn FLOKI. This virtual currency can then be used to purchase in-game weapons, armor, and NFTs representing Valhalla assets. Additionally, there is a governance feature being worked on that would give FLOKI holders a say in shaping the game's direction moving forward.
By 2024, Floki Inu's performance has been strong, showing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X is a solution to Ethereum's scalability issue, specifically for gaming NFTs. It operates on zk-rollups and enables gas-free creation and trading of NFTs, making it ideal for blockchain games. Due to its efficiency, gaming projects such as Gods Unchained and Guild of Guardians have chosen to utilize Immutable X.
Developers and gamers prefer Immutable X because of its zero-fee transactions and quick scalability. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is seen as a promising investment for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have true ownership of in-game assets and a voice in the governance of the ecosystem. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the introduction of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming ecosystem. The interest in Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more user-friendly for a broader audience. Gala has a market cap of $730 million and is gaining popularity at a fast pace.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on advanced, high-quality games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This combination provides the security of Ethereum with the scalability of Arbitrum, with an added focus on gaming applications.
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 sector, recognizing the importance of these aspects in delivering top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) system and is focused on the GameFi industry. It has a play-to-earn feature that has gained a lot of popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by interacting with their screens. This currency has attracted millions of users with its unique and easy-to-understand concept, and there have been suggestions that it could be a way for Telegram to make money from its platform.
Although Notcoin's value decreased in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued importance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it is important to remember that market conditions can change quickly. It is recommended that individuals conduct their own research before making any investment decisions 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 complicated ideas through interesting and informative articles.
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