Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for Before the End of the Year
With the evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized systems. These tokens serve as the basis for economies within games, providing incentives, control, and empowering players to have full ownership of their virtual assets.
The Web3 gaming industry is gaining momentum as 2024 ends, with some specific tokens standing out as successful. These tokens are not only leading the way in blockchain gaming innovation, but are also attracting interest from investors seeking potential opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a joke token but is now aiming to establish itself as a player in the Web3 gaming industry. The token has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
In 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, armor, and NFTs within the game. Additionally, there is a governance system in progress that will give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has performed strongly, experiencing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is increasingly attracting more people as they join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's issue with scalability, specifically for gaming NFTs. This platform, created using zk-rollups, enables the creation and trading of NFTs without gas fees, making it an ideal choice 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 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 seen as a promising option for growth in 2024 as more games become a part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. The platform recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the introduction of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it crucial for players who want to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that cater to a broader audience. Gala has a market capitalization of $730 million and is gaining popularity rapidly.
The XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on intricate and 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 while also providing the scalability of Arbitrum, with an additional layer tailored specifically for gaming.
XAI is starting to make a name for itself in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming sector, which are essential for delivering top-notch gaming experiences.
Notcoin (NTC) is a 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 of its connection to a popular game on Telegram where users can earn Notcoins by simply tapping on their screens. This unique model has attracted millions of users and has even been proposed as a potential way 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 has successfully integrated with Telegram and TON infrastructure, positioning it as a significant player in the GameFi token ecosystem for the foreseeable future.
In summary, the gaming sector of Web3 is always evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be very unpredictable. It is advised that individuals 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 digital media and blockchain technology background that allows him to explain complicated ideas in interesting and informative articles.
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