Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Wraps Up
With the evolution of blockchain and Web3 technology reshaping the gaming industry, tokens are becoming increasingly popular for their effectiveness 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 true ownership over their virtual assets.
At the end of 2024, the Web3 gaming industry is experiencing a noticeable increase in activity, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but are also attracting investors seeking potential opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a joke but is now gaining traction in the Web3 gaming industry. It is now included in Valhalla, a virtual world where people can use FLOKI tokens for various activities.
The process is as follows: Valhalla players can participate in fights and complete different tasks within the game to earn FLOKI. This currency can be used to purchase in-game weapons, armor, and NFTs that represent Valhalla assets. Additionally, a governance feature is being developed that will enable FLOKI holders to have a say in the game's direction moving forward.
By 2024, Floki Inu has shown strong performance, with significant growth in both the past 30 days and the last year. With a market capitalization of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. This platform, utilizing zk-rollups technology, enables NFT minting and trading without any gas fees, making it an ideal environment for blockchain games. Due to its high performance, Immutable X has gained the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is popular among developers and gamers due to its free transactions and ability to scale quickly. It utilizes the 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, allowing players to have genuine ownership of in-game items 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.
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 user-friendly. Gala has a market capitalization of $730 million and is gaining popularity quickly.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on creating intricate, top-notch games and their innovative approach to scalability. XAI is built on top of Arbitrum, a Layer-2 solution on Ethereum, to merge Ethereum's security with Arbitrum's scalability, and includes a unique layer tailored for gaming purposes.
XAI is emerging as a significant presence in the Web3 gaming industry, with a market value of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates on The Open Network (TON) and focuses on the GameFi industry. It features a play-to-earn system that has gained significant popularity, particularly through its connection to a popular game on Telegram. Users can earn Notcoins by simply tapping on their screens while playing the game. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Although Notcoin has experienced a decrease in value in recent months, it has started to show signs of recovery by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure makes it likely to continue being an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a unique purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
These tokens for Web3 Gaming represent the future of blockchain gaming, but it's important to understand that the market can be unpredictable. It's recommended that individuals conduct thorough research before making any investments.
Writer
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 intricate ideas through compelling and informative articles.
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