Exciting Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on by the End of the Year
With the ongoing evolution of blockchain and Web3 technology in gaming, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in the economies of games, providing incentives, governance, and empowering players to have true ownership of their virtual assets.
As we near the end of 2024, the Web3 gaming industry is experiencing notable growth, with specific tokens standing out as successful. These tokens are not only spurring advancements in blockchain gaming but are also attracting investors seeking potential opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a joke, but is now moving towards establishing itself as a strong player in the Web3 gaming industry. It has been included in Valhalla, a virtual world where individuals can both earn and use FLOKI tokens.
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 representing Valhalla assets. 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 experienced strong performance, showing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). The platform, utilizing zk-rollups, enables NFT minting and trading without gas fees, making it ideal for blockchain games. Due to its high efficiency, Immutable X has gained the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X because of its zero-fee transactions and ability to quickly expand. 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 an online gaming platform that incorporates blockchain technology to provide players with actual ownership of in-game items and a voice in the platform's governance. They recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before introducing their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming ecosystem. 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 at a fast pace.
4. XAI (XAI)
Many people interested in Web3 gaming are keeping an eye on the XAI blockchain and token because they are known for their emphasis on advanced, top-notch 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. This combination merges Ethereum's security with Arbitrum's scalability, and includes a unique layer designed specifically for gaming purposes.
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 high performance and security in the gaming sector, which are essential for delivering top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn model that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their devices. This straightforward and innovative approach has attracted millions of users to the currency and has even been proposed as a method for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in previous months, it has recently displayed signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued relevance in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continually evolving, with tokens such as Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it's important to understand that market conditions can change quickly. It's recommended that readers thoroughly 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 background in digital media and blockchain technology, allowing him to effectively explain intricate ideas in his engaging and informative articles.
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Please note that the information provided on this blog is 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 necessarily represent the official stance of NFT News Today.
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