Popular Web3 gaming tokens in 2024: Things to keep an eye on before the year is over
As blockchain and Web3 technology change the way games are played, tokens are becoming more popular because of how well they work and how useful they are in decentralized systems. These tokens are essential for in-game economies, providing rewards, control, and the opportunity for players to have true ownership of their digital possessions.
As we approach the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as successful investments. These tokens are not only leading the way in advancing blockchain gaming technology, but they are also attracting the interest of investors seeking lucrative prospects.
Floki Inu (FLOKI) originally began as a meme token, but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can both earn and use FLOKI tokens.
The process is as follows: Valhalla players can engage 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 in Valhalla. Additionally, a governance feature is being worked on that would enable FLOKI holders to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced impressive growth, with significant increases in value over the past 30 days and year. The circulating market cap of FLOKI is currently at $1.33 billion, indicating that it is gaining popularity as more people join the Valhalla community.
Immutable X is a platform that aims to address Ethereum's scalability issue, particularly for gaming NFTs. By utilizing zk-rollups, the platform enables gas-free minting and trading of NFTs, making it a favorable choice for blockchain 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 fast scalability. The IMX token is used for governance and staking on the platform, which has a market cap of $2.3 billion. With more games joining its ecosystem, Immutable X is positioned for growth in 2024.
Gala Games is an online gaming platform that operates on the Web3 framework, allowing players to have genuine ownership of their in-game items and a voice in the platform's governance. They recently revealed that their reward-based games on Telegram have attracted over 3 million users, just before the debut 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 on the rise, 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.
The XAI blockchain and 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 operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, and includes a dedicated layer designed specifically for gaming.
XAI is emerging as a contender in the Web3 gaming industry with a market cap of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential for top-tier gaming experiences.
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 system that has gained significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by simply tapping on their screens. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued importance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continually evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it's important to remember that the market can be unpredictable. It's recommended that individuals conduct their own research before making any investment decisions.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong understanding of digital media and blockchain technology, allowing him to effectively communicate complex ideas through interesting and informative articles.
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The content on this blog is meant for informational purposes and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles belong to the authors and may not align with the official stance of NFT News Today.
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