Top 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 within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, facilitating governance, and giving players the opportunity to have true ownership over their digital assets.
The Web3 gaming industry is experiencing strong growth as we near the end of 2024, with specific tokens gaining popularity as successful assets. These tokens are not only spurring advancements in gaming on blockchain technology but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a joke but is now aiming to establish itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize and collect FLOKI tokens.
The way it operates is that Valhalla users can engage in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase items like weapons, armor, and NFTs within the game. Additionally, there is a governance feature being developed that will give FLOKI holders a say in the game's direction moving forward.
By 2024, Floki Inu has performed strongly, experiencing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X is a platform that aims to address Ethereum's scalability issues, particularly for gaming NFTs. By utilizing zk-rollups technology, the platform enables gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free transactions and quick ability to handle increased load. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is potentially a strong investment for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have real ownership of in-game items and a voice in how the system is managed. They 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 offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms such as Telegram, which are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on sophisticated, high-quality games and their scalable approach. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an added layer dedicated to gaming.
XAI is establishing itself as a significant presence in the Web3 gaming industry, with a market capitalization of $139.67 million. The platform is prioritizing both performance and security in order to provide top-quality gaming experiences.
Notcoin (NTC) is a digital currency that operates on The Open Network (TON) platform and focuses on the GameFi industry. It utilizes a play-to-earn system that has gained widespread popularity, particularly because of its integration with a popular game on Telegram where users can earn Notcoins by tapping on their devices. This unique earning method has attracted millions of users and has been proposed as a potential revenue stream for Telegram.
Although Notcoin's value declined in recent months, it has started to show signs of improvement in the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its continued importance 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 specific purposes such as enabling in-game economies, promoting active governance, and facilitating decentralized ownership of assets.
Web3 Gaming tokens are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is advised for readers to conduct their own research before making any investments.
Jason Newey is an experienced journalist who focuses on covering NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively communicate intricate ideas in his articles that are both interesting and informative.
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