Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: 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 ecosystems. These tokens serve as the basis for in-game economies, 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 a noticeable increase in activity, with specific tokens standing out as successful assets. These tokens are not only spurring advancements in gaming using blockchain technology, but they are also attracting investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Floki Inu, originally created as a meme token, is now moving towards establishing itself as a strong presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can utilize FLOKI tokens for earning and spending.
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 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 experienced significant growth, with noticeable increases in value over the past 30 days and year. The circulating market capitalization of FLOKI is now $1.33 billion, showing that more people are showing interest in Valhalla and joining the community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. By utilizing zk-rollups, IMX enables users to mint and trade NFTs without incurring gas fees, making it a popular choice for blockchain-based games. Due to its high efficiency, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free transactions and fast scalability. The platform uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned well for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is an online gaming platform that utilizes Web3 technology, allowing players to have genuine ownership of in-game items and a voice in the platform's governance. The platform recently revealed that their tap-for-rewards games on Telegram have attracted over 3 million users, just before the release of their new token, $TREZ.
In Gala's games, the GALA token is used for all 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 currently has a market capitalization of $730 million and is gaining popularity quickly.
XAI blockchain and token are being closely monitored by many in the Web3 gaming community because of their emphasis on intricate, top-notch 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 combination ensures the security of Ethereum with the scalability of Arbitrum, along with an additional layer tailored specifically for gaming purposes.
XAI is emerging as a significant contributor to the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by prioritizing both performance and security, which are essential elements for top-tier gaming experiences.
Notcoin (NTC) is a digital currency that operates on The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn feature 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 devices. This simple and innovative method has attracted millions of users and has been proposed as a potential revenue stream 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 has successfully integrated with Telegram and TON infrastructure, solidifying its position as an important player in the GameFi token ecosystem.
In the ever-evolving world of Web3 gaming, tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin are leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
Web3 Gaming tokens are seen as the future of blockchain gaming, but it is important to remember that market conditions can change rapidly. It is recommended that readers conduct thorough research before making any investments in this space.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge in digital media and blockchain technology, allowing him to effectively explain intricate ideas in his interesting and informative articles.
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