Popular Web3 gaming tokens in 2024: Things to keep an eye on before the end of the year
As blockchain and Web3 technology evolve the gaming industry, tokens are becoming more popular for their efficiency and usefulness in decentralized systems. These tokens form the basis of in-game economies, providing rewards, governance, and allowing players to have full ownership of their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable surge in growth, with specific tokens standing out as successful assets. These tokens are not only fueling advancements in gaming on the blockchain but are also attracting the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now expanding into the world of Web3 gaming. It has been included in Valhalla, a virtual universe where people can use FLOKI tokens for various activities.
The process is as follows: Valhalla players can participate in battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons, armor, and NFTs that represent Valhalla assets. Additionally, a governance feature is being developed that will give FLOKI holders the ability to impact the game's direction in the future.
Floki Inu has experienced significant growth in 2024, with notable increases in value over the past 30 days and year. The circulating market cap for Floki is currently $1.33 billion, showing that more people are becoming interested in Valhalla and investing in FLOKI.
Immutable X is a solution to Ethereum's scalability issue, particularly for gaming NFTs. Utilizing zk-rollups technology, the platform enables minting and trading of NFTs without gas fees, making it a preferred choice 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-free transactions and quick scalability. The platform utilizes its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology to allow players to have genuine ownership of in-game assets 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 reached over 3 million users. This milestone comes just before the introduction of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms such as Telegram that are easily accessible to a wide audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on advanced, top-tier games and their innovative scalability strategy. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. By leveraging Ethereum's security and Arbitrum's scalability, XAI also incorporates a unique gaming-focused layer.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to establish itself in the gaming market by providing both high performance and security, which are essential for top-tier gaming experiences.
5. Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and targets the GameFi industry. It has a play-to-earn system that has gained a lot of popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its straightforward and unique approach, and there have been suggestions for Telegram to use it as a way to make money 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 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. Each of these tokens serves a specific purpose, such as enabling in-game economies, supporting active governance, or facilitating decentralized ownership of assets.
The tokens used in Web3 Gaming represent the future of blockchain gaming, but it's important to understand that market conditions can change rapidly. It's recommended for readers to conduct their own research before making any investment decisions.
Jason Newey, an experienced journalist, focuses on NFTs, the Metaverse, and Web3 technologies. His expertise lies in digital media and blockchain technology, allowing him to effectively communicate intricate ideas through compelling and educational articles.
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