Top Web3 Gaming Tokens to Keep an Eye on in 2024: Important Things to Know Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their effectiveness and usefulness within decentralized ecosystems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have full ownership of their digital assets.
At the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as successful. These tokens are leading the way in advancing blockchain gaming technology and are attracting investors seeking lucrative prospects.
1. Floki Inu, initially created as a token based on a meme, is now establishing itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for earning and spending.
Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI. They can use this token 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 a say in the game's direction and future developments.
By 2024, Floki Inu has performed strongly, showing impressive growth over the past 30 days and year. With a market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a platform that aims to address Ethereum's scalability issues, particularly for gaming NFTs. By utilizing zk-rollups technology, it enables users to mint and trade NFTs without incurring gas fees, making it an ideal solution for blockchain games. Its effectiveness has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer using Immutable X due to its zero-fee transactions and quick scalability. The platform utilizes its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to see growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have true ownership of in-game assets and a voice in how the ecosystem is managed. Gala recently shared 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 easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
4. XAI (XAI)
XAI blockchain and its token are being closely monitored by many interested in Web3 gaming because of their emphasis on intricate, top-notch games and their strategy for scalability. XAI is built on Arbitrum, a Layer-2 solution on Ethereum, and operates as a Layer-3 blockchain. This setup combines Ethereum's security features with Arbitrum's scalability, with an additional layer tailored specifically for gaming purposes.
XAI is emerging as a significant presence in the Web3 gaming industry with a market value of $139.67 million. The platform is focusing on providing both high performance and security in gaming, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a 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 link to a popular game on Telegram where players can earn Notcoins by tapping their screens. This straightforward and unique method has attracted millions of users to the currency and has even 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's compatibility with Telegram and TON infrastructure makes it likely to continue being an important participant in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a specific purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can change rapidly. It is recommended for readers to conduct their own research before making any investment decisions.
Writer Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. His expertise lies in digital media and blockchain technology, allowing him to easily explain intricate ideas in his articles in an interesting and informative manner.
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The content on this blog is intended for informational purposes and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles belong to the writers and may not represent the official stance of NFT News Today.
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