Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized systems. These tokens serve as the building blocks of virtual economies within games, providing players with rewards, governance, and the opportunity to have full ownership of their digital possessions.
In the final months of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as successful assets. These tokens are not only pushing forward progress in gaming on blockchain technology but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Floki Inu, originally known as a meme token, is working towards establishing itself as a strong player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can both earn and use FLOKI tokens.
In Valhalla, players can participate 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, there is a governance feature being worked on that will enable FLOKI holders to have a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap for FLOKI is currently at $1.33 billion, as more people are becoming interested in joining the Valhalla community.
Immutable X is a platform that is addressing Ethereum's scalability issue, particularly in the realm of gaming NFTs. By utilizing zk-rollups, the platform enables NFT minting and trading without gas fees, making it ideal for blockchain games. Immutable X's efficiency has attracted gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to its zero-fee transactions and ability to scale quickly. 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, allowing players to have true ownership of in-game items and a voice in the platform's governance. The company recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before the release 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 increasing rapidly, particularly on platforms like Telegram that are more easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI is a blockchain and token that is gaining attention in the Web3 gaming community for their emphasis on creating intricate and top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. By leveraging Ethereum's security and Arbitrum's scalability, XAI includes a unique layer tailored for gaming purposes.
XAI is gaining traction in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by providing both high performance and security, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates on The Open Network (TON) platform and focuses on the GameFi industry. It utilizes 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 tapping on their devices. This straightforward and innovative approach has attracted millions of users and has even been proposed as a method for Telegram to generate revenue from its platform.
Although Notcoin experienced a decline in value in recent months, there are now indications of it recovering and increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued importance in the GameFi token ecosystem.
In conclusion, the gaming sector in Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as enabling in-game economies, facilitating 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 market conditions can change quickly. It's advisable for readers to conduct their own research before making any investments.
Jason Newey is an experienced writer 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 in his articles.
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