Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look out for Before the End of the Year
As blockchain and Web3 technology keep evolving the gaming industry, tokens are becoming more popular for their functionality and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have true ownership of their digital assets.
The year 2024 is ending with a lot of growth in the Web3 gaming industry, and some tokens are standing out as successful. These tokens are not only pushing forward new ideas in gaming with blockchain technology, but they are also attracting investors seeking lucrative chances for investment.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a joke but is now evolving into a serious player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
Users of Valhalla 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 within Valhalla. Additionally, there is a governance system being developed that will give FLOKI holders a say in the direction of the game's future.
By 2024, Floki Inu has experienced significant growth, with impressive gains seen over the past 30 days and year. The circulating market cap for FLOKI is now $1.33 billion, and more people are showing interest in Valhalla as the cryptocurrency gains popularity.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). This platform, which uses zk-rollups, enables the creation and trading of NFTs without gas fees, making it ideal for blockchain games. Due to its effectiveness, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its zero-fee transactions and fast scalability. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that uses Web3 technology to allow players to have actual ownership of in-game items and a voice in the governance of the ecosystem. The company 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 relies on the GALA token for all activities within its games, making it essential for players looking to engage with Gala's gaming experiences. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are easily accessible to a wide audience. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
XAI is a blockchain and token that many people interested in Web3 gaming are keeping an eye on because of its emphasis on intricate, top-notch games and its scalability strategy. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination ensures the security of Ethereum, the scalability of Arbitrum, and a specialized layer designed specifically for gaming.
XAI is establishing itself as a competitor in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform aims to provide top-notch performance and security in the gaming realm, recognizing the importance of these aspects for a premium gaming experience.
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 feature that has gained significant popularity, particularly because it is linked to a popular game on Telegram where users can earn Notcoins by simply tapping on their screens. This unique earning method has attracted millions of users and has even been proposed as a potential revenue stream for Telegram.
Although Notcoin's value decreased 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 ensures its position as a significant 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 facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens in Web3 Gaming are considered to be the future of blockchain gaming. It is important to understand that the market for these tokens is unpredictable, so individuals should conduct their own research before making any investments.
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 engaging and informative articles.
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