Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look Out for Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in gaming, tokens are becoming increasingly popular for their efficiency and usefulness within decentralized systems. These tokens play a crucial role in in-game economies by providing incentives, decision-making power, and enabling players to have full ownership of their virtual assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as top performers. These tokens are leading the way in advancing blockchain gaming technology and are attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) was initially created 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 use and earn FLOKI tokens.
In Valhalla, players can participate in battles and complete in-game tasks to earn FLOKI tokens. These tokens can be used to purchase weapons, armor, and NFTs within the game. Additionally, a governance system is being developed that will give FLOKI holders a say in the game's direction.
By 2024, Floki Inu has performed strongly, showing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is attracting more investors as interest in Valhalla grows.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. By utilizing zk-rollups technology, the platform enables minting and trading of NFTs without gas fees, making it ideal 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 zero-fee transactions and quick scalability. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned 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 to allow players to have actual ownership of assets within the game and a voice in the platform's governance. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes before the introduction of their new token, $TREZ.
The GALA token is essential for participating in Gala's games, as it is used for all in-game actions. 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 gaining attention in the Web3 gaming community for its emphasis on sophisticated games and scalability. It is built on Arbitrum, a Layer-2 solution on Ethereum, to combine the security of Ethereum with the scalability of Arbitrum, with a specialized layer designed specifically for gaming.
XAI is emerging as a significant presence in the Web3 gaming industry, with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential elements for top-tier gaming experiences.
5. Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses 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 that allows players to earn Notcoins by tapping on their devices. This currency has attracted a large number of users with its straightforward and innovative approach, and there have been discussions about using it as a means for Telegram to generate revenue.
Although Notcoin's value decreased for a period, it has recently started to increase again. This growth has been particularly noticeable in the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its place as an important player 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 different purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The tokens 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 deciding to invest in these tokens.
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, allowing him to effectively explain complicated ideas in interesting and informative articles.
Browse through all the
Here are some suggested articles you may find interesting:
– A guide on how to make money from Web3 games
– A list of promising Web3 gaming tokens to keep an eye on before the end of the year
If you enjoyed this article, feel free to share it with others.
For more articles, check out our other stories such as earning rewards from the Rocky Rabbit airdrop or making passive income through cryptocurrency in 2024.
Please note that the information provided on this blog is meant for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not necessarily represent the official stance of NFT News Today.
Sign up for our newsletter!
