Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look out for Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in the in-game economies, providing rewards, governance, and empowering players to have genuine ownership over their digital assets.
In the final months of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful assets. These tokens are not only fueling advancements in gaming using blockchain technology, but they are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu, initially created as a meme cryptocurrency, is moving towards establishing a presence in the Web3 gaming industry. The token is now part of Valhalla, a virtual world where users can use and earn FLOKI tokens.
This is how Valhalla operates: 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 assets in Valhalla. Additionally, a governance feature is 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, with significant growth over the past 30 days and year. The circulating market cap for FLOKI is currently $1.33 billion, and it is becoming increasingly popular as more people join the Valhalla community.
Immutable X is a platform built on zk-rollups that aims to address Ethereum's scalability issues, specifically for gaming NFTs. The platform enables gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free transactions and ability to quickly handle a large volume of transactions. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is a promising investment for potential growth in 2024, especially 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 in-game items and a voice in the platform's governance. Gala recently reported that their tap-for-rewards games on Telegram have reached over 3 million users, just before the release 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 increasing rapidly, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
The XAI blockchain and token are attracting attention from many in the Web3 gaming community because of their emphasis on creating intricate, 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 on Ethereum. This combination allows XAI to leverage Ethereum's security and Arbitrum's scalability, with an additional specialized layer designed specifically for gaming.
XAI has entered the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming sector, which are essential for top-quality gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is specifically geared towards 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 interacting with their screens. This unique feature has attracted millions of users to the currency and has even 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 and has been increasing in value over the past month. Additionally, Notcoin is compatible 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 always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve different purposes, such as enabling in-game economies, supporting decentralized ownership of assets, and facilitating active governance within the gaming community.
The tokens used in Web3 Gaming are considered to be the future of blockchain gaming, but it is important to understand that market conditions can change rapidly. It is advised that individuals 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 foundation in digital media and blockchain technology, allowing him to effectively explain intricate ideas in his articles.
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The content 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 belong to the authors and may not represent the official stance of NFT News Today.
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