Top Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
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 ecosystems. These tokens serve as the basis for in-game economies, providing incentives, decision-making capabilities, and empowering players to have full ownership of their virtual assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a noticeable increase in activity, with specific tokens standing out as successful performers. These tokens are not only pushing forward advancements in blockchain gaming, but they are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now entering the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use FLOKI tokens for various activities.
The process is as follows: Valhalla players can join battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase items like weapons and armor within the game, as well as NFTs that represent assets in Valhalla. Additionally, a governance feature is being worked on that would give FLOKI holders a say in shaping the game's direction moving forward.
By 2024, Floki Inu has experienced significant growth, with noticeable increases in value over the past 30 days and year. The circulating market cap of FLOKI is currently at $1.33 billion, indicating that more people are showing interest in Valhalla and investing in this cryptocurrency.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). This platform, utilizing zk-rollups technology, enables the creation and exchange of NFTs without requiring gas fees, which makes it ideal for blockchain games. Due to its effectiveness, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and ability to quickly scale. The platform uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology. It allows players to have true ownership of virtual assets within games and a voice in the platform's governance. Gala recently shared that their reward-based 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 popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that cater to a wider audience. Gala currently has a market capitalization of $730 million and is gaining popularity rapidly.
XAI is a blockchain and token that is highly regarded in the Web3 gaming community for its emphasis on sophisticated games and scalable approach. It is built on Arbitrum, a Layer-2 solution on Ethereum, which merges Ethereum's security with Arbitrum's scalability and includes a dedicated layer for gaming.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to establish itself in the gaming community by providing both performance and security, which are essential for delivering top-quality gaming experiences.
Notcoin (NTC) is a cryptocurrency that operates within The Open Network (TON) ecosystem and focuses on the GameFi sector. It offers a play-to-earn model that has gained significant popularity, particularly because of its connection to a popular game on Telegram that allows players to earn Notcoins by simply tapping on their screens. This straightforward and innovative approach has attracted millions of users to the currency and has even been proposed as a potential method for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin has a strong integration with Telegram and TON infrastructure, ensuring its position as a significant player 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 each serve a specific purpose, such as facilitating in-game economies, enabling active governance, or supporting decentralized ownership of assets.
The Web3 Gaming tokens are seen as the future of blockchain gaming, but it's important to remember that market conditions can change quickly. It is recommended for readers to conduct their own research before making any investments.
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 explain difficult ideas in a clear and interesting way through his articles.
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