Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
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 surge in growth, with specific tokens standing out as successful. These tokens are not only leading the way in advancing blockchain gaming, but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu, originally created as a joke cryptocurrency, is now focusing on establishing itself as a key player in the Web3 gaming industry. The token has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for various activities.
In Valhalla, users can participate in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that represent Valhalla assets. Additionally, there is a governance feature 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 experienced significant growth, with noticeable increases in value over the past 30 days and 1 year. The circulating market cap of FLOKI is now at $1.33 billion, showing that more people are becoming interested in Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups, IMX enables gas-free minting and trading of NFTs, making it an ideal option for blockchain games. Due to its high efficiency, Immutable X has become popular among gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular option for developers and gamers due to its free transactions and quick scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X could be a promising investment for future growth as more games become part of its ecosystem by 2024.
Gala Games is a platform for online gaming that operates on Web3 technology, allowing players to have actual ownership of in-game items and a voice in the governance of the ecosystem. Gala recently shared that their games on Telegram, where users can tap for rewards, have attracted over 3 million players. This milestone comes just before the release of Gala's new token, $TREZ.
In Gala's games, the GALA token is used for all in-game activities, making it essential for players. There is a rising interest in Web3 gaming, particularly on user-friendly platforms like Telegram that appeal to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity rapidly.
The XAI blockchain and token are highly regarded 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 for Ethereum. By leveraging Ethereum's security and Arbitrum's scalability, XAI has created a specialized layer tailored for gaming applications.
XAI is emerging as a significant player 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 sphere, which are essential elements for top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates on The Open Network (TON) platform and is focused on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because of its partnership with a popular game on Telegram where players can earn Notcoins by tapping on 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 recent months, it has started to show signs of improvement, with its value increasing in the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures that it will continue to be an important 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 different purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
Although Web3 Gaming tokens are considered the future of blockchain gaming, it is important to understand that market conditions can be unpredictable. It is recommended that readers conduct their own research before making any investment decisions.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong foundation in digital media and blockchain technology, allowing him to explain intricate ideas in a clear and interesting way through his articles.
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