Top Gaming Tokens to Keep an Eye on Before 2024 Ends
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized ecosystems. 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 we near the end of 2024, the Web3 gaming industry is experiencing notable growth, with specific tokens standing out as successful players. These tokens are not just leading advancements in blockchain gaming, but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu, originally created as a meme token, is now moving towards establishing itself as a strong player in the Web3 gaming industry. The token is now part of Valhalla, a virtual world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can participate in battles and complete different in-game tasks to earn FLOKI. They can use this token to purchase items like weapons and armor within the game, as well as NFTs that are considered valuable assets in Valhalla. Additionally, a governance feature is currently being developed, giving FLOKI holders the ability to have a say in the direction of the game's future.
Floki Inu has performed strongly in 2024, showing significant growth over the past 30 days and year. The circulating market cap for FLOKI is currently at $1.33 billion, indicating that more people are becoming interested in the cryptocurrency as it gains momentum with Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). Using zk-rollups technology, Immutable X enables the minting and trading of NFTs without the need for gas fees, making it an ideal choice for blockchain games. Its high level of efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and quick ability to handle a large number of users. The IMX token is used for governance and staking on the platform. 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 utilizes Web3 technology to allow players to have actual ownership of in-game items and a role in governing the ecosystem. Gala recently shared that their reward-based games on Telegram have attracted over 3 million users, just as they are preparing to introduce their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that cater to a broader audience. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
The XAI blockchain and token are attracting attention from those interested in Web3 gaming for their emphasis on intricate, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain utilizing Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an added layer tailored specifically for gaming.
XAI is emerging as a prominent force 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 realm, which are essential elements for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates on The Open Network (TON) and is focused on the GameFi industry. It offers a play-to-earn system that has gained significant popularity, particularly because of its link to a popular game on Telegram where players can earn Notcoins by tapping on their devices. This straightforward and unique method has attracted millions of users to the currency and has even been proposed as a means for Telegram to generate revenue from its platform.
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 positions it 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. These tokens serve specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming. However, it is important to understand that market conditions can change rapidly, so it is recommended for readers to 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 strong understanding of digital media and blockchain technology, allowing him to simplify complicated ideas into interesting and educational articles.
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