Exciting Gaming Tokens to Look Out for in 2024: Things to Keep an Eye on Before the Year is Over
With the advancements in blockchain and Web3 technology, gaming tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies by providing rewards, governance, and giving players the opportunity to have full ownership of 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 on the blockchain, but they are also attracting the interest of investors seeking lucrative prospects.
Floki Inu (FLOKI) was originally created as a meme token but is now aiming to establish itself as a strong presence 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 tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game items like weapons, armor, and NFTs representing Valhalla assets. Additionally, a governance feature is being developed that will enable FLOKI holders to have a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with notable increases over the past 30 days and 1 year. The circulating market cap of FLOKI is $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, particularly for gaming NFTs. This platform, utilizing zk-rollups technology, enables the minting and trading of NFTs without gas fees, making it ideal for blockchain games. Immutable X's efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its fee-less transactions and ability to quickly handle increased demand. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as it continues to attract more games to its ecosystem.
3. Gala (GALA)
Gala Games is an online gaming platform that utilizes Web3 technology to allow players to have actual ownership of in-game items and a voice in the governance of the ecosystem. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have attracted over 3 million users. This milestone comes just before the release of their new token, $TREZ.
Gala's games require the use of the GALA token for all activities within the game, 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.
XAI is a blockchain and token that is highly regarded in the Web3 gaming community for its emphasis on intricate, high-caliber games and its innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 scaling solution for Ethereum. This combination leverages Ethereum's security features and Arbitrum's scalability capabilities, with an additional layer tailored specifically for gaming purposes.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to provide both top-notch performance and security in the gaming realm, which are essential for delivering high-quality 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 concept that has gained significant popularity, particularly because of its link to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This straightforward and innovative approach has attracted millions of users to the currency and has even been proposed as a potential revenue source for Telegram.
Although Notcoin's value has decreased in the past few months, it has recently started to show signs of improvement and has been increasing in value over the past month. Additionally, Notcoin is well integrated with Telegram and TON infrastructure, ensuring its continued importance in the GameFi token ecosystem.
In conclusion, the gaming sector in 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 used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to remember that the market can be unpredictable. It is recommended that individuals conduct thorough research before making any investments.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles.
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