Top Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
With the evolving landscape of blockchain and Web3 technology, gaming 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 empowering players to have full ownership of their digital assets.
As we near the end of 2024, there is a noticeable increase in momentum within the Web3 gaming industry. Some tokens have stood out as successful performers, driving innovation in gaming using blockchain technology and attracting interest from investors seeking potential opportunities.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now expanding into the Web3 gaming industry. It has been included in Valhalla, a metaverse where users can use and acquire FLOKI tokens.
In Valhalla, users can engage in battles and complete tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that are considered valuable assets within Valhalla. Additionally, there is a governance feature in progress that will enable FLOKI holders to have a say in the direction of the game's development.
By 2024, Floki Inu has experienced significant growth, with impressive gains in both the 30-day and 1-year periods. The circulating market cap of FLOKI is now $1.33 billion, showing that more people are becoming interested in Valhalla and investing in the cryptocurrency.
Immutable X is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. It operates on zk-rollups technology, enabling gas-free creation and exchanging of NFTs, which is 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 using Immutable X because of its zero-fee transactions and ability to scale quickly. The platform uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is seen as a promising option for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have actual ownership of in-game items and a voice in how the platform is run. They recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This announcement comes before the launch of their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who want to engage with Gala's game offerings. The popularity of Web3 gaming is 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 at a fast pace.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on creating intricate and top-notch games, as well as their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution for Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an additional specialized layer tailored for gaming purposes.
XAI is making a name for itself in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming space, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn system that has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This straightforward and innovative feature has attracted millions of users and has been proposed as a potential revenue source for Telegram.
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's compatibility with Telegram and TON infrastructure makes it likely to continue being a significant player in the GameFi token ecosystem.
In the world of Web3 gaming, there is continuous progress being made by projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin. These tokens each serve unique purposes such as facilitating in-game economies, empowering active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming. It is important to understand that the market for these tokens can be unpredictable, so 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 background in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles in an engaging and informative manner.
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