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The Rise of Web3 Gaming Tokens in 2024: Top Picks to Watch Before the Year Ends

  • October 10, 2024
  • 5 min read

Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends

As blockchain and Web3 technology reshape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens serve as the basis for in-game economies, providing benefits, control, and the opportunity for players to have full ownership of their virtual assets.

As we near the end of 2024, the Web3 gaming industry is gaining momentum, with specific tokens standing out as top performers. These tokens are leading the way in innovating blockchain gaming and attracting the interest of investors seeking lucrative prospects.

Floki Inu (FLOKI) originally began as a token created for fun, but now it is working towards establishing itself as a serious player in the Web3 gaming industry. It has been included in Valhalla, a virtual universe where individuals can use and acquire FLOKI tokens.

The way it functions is that Valhalla users can engage 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, a governance feature is being worked on that would give FLOKI holders the ability to impact the direction of the game moving forward.

By 2024, Floki Inu has experienced significant growth, showing impressive gains over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is continuing to attract more investors as Valhalla gains popularity.

Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, IMX enables gas-free creation and exchange of NFTs, making it an ideal environment for blockchain games. Due to its effectiveness, IMX has attracted gaming projects such as Gods Unchained and Guild of Guardians.

Developers and gamers prefer Immutable X for its free transactions and fast ability to handle a large number of transactions. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is considered a promising investment for potential growth in 2024 as more games become part of its ecosystem.

3. Gala (GALA)

Gala Games is an online gaming platform that operates on Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently revealed 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 participate in Gala's gaming ecosystem. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.

The XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on intricate and top-notch games and their strategy for scalability. XAI is a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum, which merges Ethereum's security with Arbitrum's scalability and includes a dedicated layer specifically designed for gaming.

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 performance and security in the gaming realm, which are essential components for delivering top-tier 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 uses a play-to-earn approach that has gained significant 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 straightforward and innovative method, and there are even suggestions for Telegram to use it as a way to generate revenue.

While Notcoin experienced a decrease in value in recent months, it has recently started to recover and has been increasing in value over the past month. Additionally, Notcoin has good compatibility with Telegram and TON infrastructure, ensuring its position as 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 specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.

The Web3 Gaming tokens are shaping the future of blockchain gaming, but it's important to remember that market conditions can change quickly. It's recommended that readers conduct their own research before making any investments in this space.

Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong digital media and blockchain technology background, allowing him to effectively explain intricate ideas in his interesting and informative articles.

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The content shared on this blog is meant for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.

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