Top Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
With the ongoing evolution of blockchain and Web3 technology, tokens are becoming more popular in gaming 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 true ownership over their digital assets.
As the year 2024 draws to an end, there is a noticeable increase in activity within the Web3 gaming industry, with specific tokens standing out as successful investments. These tokens are leading the way in advancing blockchain gaming technology and are attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now aiming to establish itself in the Web3 gaming industry. It has been included in Valhalla, a virtual world where people can use FLOKI tokens for various activities.
In Valhalla, users can participate 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 give FLOKI holders the ability to have a say in the game's future development.
By 2024, Floki Inu has experienced significant growth, with impressive gains in both the past month and year. The circulating market capitalization of FLOKI is now valued at $1.33 billion, indicating increasing popularity as more people join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's issue with scalability, specifically for gaming non-fungible tokens (NFTs). This platform, which utilizes zk-rollups, enables NFT minting and trading without gas fees, making it ideal for blockchain games. Due to its effectiveness, Immutable X has gained interest from gaming projects such as Gods Unchained and Guild of Guardians.
Because of its zero-fee transactions and ability to quickly scale, developers and gamers prefer using Immutable X. It supports governance and staking through its IMX token. With a market cap of $2.3 billion, Immutable X is seen as a promising investment for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on the Web3 technology. It allows players to have actual ownership of assets within the game and a voice in decision-making for the platform. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes before the introduction of their new token, $TREZ.
Gala's games require the use of the GALA token for all in-game activities, making it essential for players. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that cater to a wider audience. Gala has a market cap of $730 million and is gaining popularity rapidly.
The XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on intricate, high-quality games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This setup merges Ethereum's security features with Arbitrum's scalability, while also introducing a specialized layer designed specifically for gaming purposes.
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 space, recognizing the importance of these two factors in delivering top-notch 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 players can earn Notcoins by simply tapping on their screens. This straightforward and innovative approach has attracted millions of users quickly and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently, increasing in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its position as a significant player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are essential for the future of blockchain gaming, but it's important to understand that market conditions can change rapidly. It's recommended that individuals conduct their own research before making any investments.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a knowledge of digital media and blockchain technology, allowing him to effectively communicate complicated ideas in his articles that are both interesting and informative.
See all of the
Some suggested articles for you to read include tips on making money from Web3 games and a list of popular Web3 gaming tokens to keep an eye on. You may also be interested in learning about earning rewards after an airdrop and ways to generate passive income through cryptocurrency in 2024. Please note that the information on this blog is for informational purposes only and should not be considered as financial, legal, or investment advice. The views expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
Sign up to receive our newsletter updates!