Popular Gaming Tokens in 2024: Key Things to Keep an Eye on Before the Year is Over
As blockchain and Web3 technology keep influencing the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governing systems, and allowing players to have true ownership over their digital assets.
As we near the end of 2024, the Web3 gaming industry is gaining traction, with some tokens standing out as top performers. These tokens are leading the way in revolutionizing blockchain gaming and are attracting the interest of investors seeking lucrative prospects.
Floki Inu (FLOKI) originally began as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the ability to earn and use FLOKI tokens.
In Valhalla, users can participate in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, a governance system is being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
In the year 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and one year. With a circulating market cap of $1.33 billion, FLOKI is increasingly gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, which uses zk-rollups, enables NFT minting and trading without gas fees, making it ideal for blockchain games. Immutable X's efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its zero-fee transactions and ability to scale quickly. The platform utilizes its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned for potential growth in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that operates on Web3 technology. It allows players to have actual ownership of virtual assets within games and a voice in the decision-making process of the platform. Gala recently shared that their games on Telegram, where users can earn rewards by participating, have reached over 3 million users. This achievement comes 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 wish to engage with Gala's gaming platform. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are easily accessible to a wider audience. Gala has a market capitalization 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 intricate and high-quality games, as well as their scalability approach. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, and includes a specialized gaming layer.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to provide both performance and security in the gaming realm, which are essential elements for top-notch gaming experiences.
5. Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and is focused on the GameFi sector. It has a play-to-earn system that has gained a lot of popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its unique and straightforward method, and there have been suggestions that it could be a way for Telegram to make money from its platform.
While Notcoin's value experienced a decline 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 positions it as a significant player in the GameFi token ecosystem for the foreseeable future.
In summary, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a specific purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is recommended that readers 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 experience in digital media and blockchain technology, and is skilled at simplifying intricate ideas into interesting and informative articles.
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