Top Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
With the evolution of blockchain and Web3 technology, gaming tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens are essential for in-game economies, providing players with rewards, decision-making power, and the opportunity to have true ownership over their digital assets.
As the year 2024 ends, the Web3 gaming industry is experiencing a lot of growth, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but are also attracting the interest of investors seeking lucrative opportunities.
1. Floki Inu, originally a meme token, is now venturing into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for transactions.
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 are considered valuable assets in Valhalla. Additionally, there is a governance aspect being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and one year. With a circulating market capitalization 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, particularly for gaming NFTs. This platform, utilizing zk-rollups, enables minting and trading of NFTs without gas fees, making 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 because of its free transactions and ability to scale quickly. It uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X could see growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. It allows players to have actual ownership of assets within the game and a voice in the governance of the platform. Gala recently shared that its games on Telegram, which offer rewards for player activity, have reached over 3 million users. This milestone comes before the release of its new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players to participate in 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 has a market capitalization of $730 million and is gaining popularity rapidly.
XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on advanced games and scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination provides the security of Ethereum with the scalability of Arbitrum, along with a dedicated layer tailored for gaming applications.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming realm, recognizing the importance of these aspects in delivering top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates in The Open Network (TON) ecosystem and focuses on the GameFi industry. It utilizes a play-to-earn model that has gained significant popularity, particularly because of its integration with a popular game on Telegram where users can earn Notcoins by interacting with their screens. This straightforward and unique approach has attracted millions of users and has even been proposed as a potential monetization method for Telegram's platform.
Although Notcoin's value had decreased in the past few months, it has recently started to show signs of improvement by increasing in value over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure makes it a significant player in the GameFi token ecosystem.
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 serve specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The development of Web3 Gaming tokens is shaping the future of blockchain gaming, but it's important to recognize that market conditions can change rapidly. It is advised for individuals to conduct their own research before making any investment decisions.
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 through his engaging and informative articles.
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