Top Web3 Gaming Tokens to Keep an Eye on Before 2024 is Over
As blockchain and Web3 technology shape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a key role in in-game economies by providing rewards, governance, and allowing players to have full ownership of their digital assets.
Towards the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful. These tokens are leading the way in advancing blockchain-based gaming and are attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originated as a joke but has now expanded its presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use and accumulate 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 virtual currency can be used to purchase items such as weapons, armor, and NFTs that have value within the game. Additionally, there is a governance aspect being worked on that would give FLOKI holders a say in shaping the game's direction in the future.
By 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is becoming more popular as more people join the Valhalla community.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, utilizing zk-rollups, enables the creation and trading of gas-free NFTs, 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 scale. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as more games become 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 governance of the ecosystem. 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 who want to engage with Gala's gaming offerings. 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.
XAI is a blockchain and token that is highly regarded in the Web3 gaming community for its emphasis on creating advanced, top-notch games and its innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. By leveraging Ethereum's security and Arbitrum's scalability, XAI has developed a specialized 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 company is focusing on providing both high performance and security in the gaming sector, which are essential elements for top-notch gaming experiences.
Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and is specifically designed for the GameFi sector. It has a play-to-earn model that has gained significant popularity, particularly because of its connection to a popular game on the Telegram platform where users can earn Notcoins by tapping on their screens. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Despite a decrease in value in the past few months, Notcoin has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin has a strong integration with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens provide various functions such as enabling in-game economies to function, facilitating active governance, and supporting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, 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 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 communicate complex ideas through interesting and educational articles.
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