Top Web3 Gaming Tokens to Keep an Eye On Before 2024 Ends
With blockchain and Web3 technology reshaping the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership of their digital assets.
Towards 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 leading the way in advancing blockchain gaming but are also attracting interest from investors seeking potential growth opportunities.
Floki Inu (FLOKI) was originally 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.
The way it operates is that Valhalla users can participate in fights and complete different tasks within the game to earn FLOKI. This currency can be used to purchase items like weapons and armor within the game as well as NFTs that represent assets in Valhalla. Additionally, a governance system is being developed that would give FLOKI holders the ability to impact the direction of the game in the future.
In the year 2024, Floki Inu has performed strongly, experiencing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is continuing to attract more people as they join the Valhalla community.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. Using zk-rollups technology, the platform enables gas-free creation and exchange of 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 are drawn to Immutable X because of its zero-fee transactions and ability to quickly scale. The platform uses its IMX token to support governance and staking. With a market cap of $2.3 billion, Immutable X is predicted to experience growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes blockchain technology, allowing players to have true ownership of virtual assets within the game and a voice in the platform's governance. Gala recently shared that their games on Telegram, where players can earn rewards by tapping, have attracted over 3 million users. This milestone comes just before the introduction of their new token, $TREZ.
In Gala's games, the GALA token is used for every in-game activity, making it essential for players who want to engage with Gala's games. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram, which are more user-friendly for a broader audience. Gala has a market capitalization of $730 million and is gaining popularity at a quick pace.
XAI, which stands for XAI, is a blockchain and token that is highly regarded in the Web3 gaming community for its emphasis on intricate, top-notch games and its scalability strategy. It operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security with Arbitrum's scalability and introducing a gaming-focused layer, XAI aims to offer a unique gaming experience.
XAI is emerging as a significant contributor to the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to establish itself in the gaming market by providing not just top-notch performance, but also ensuring security, both of which are essential for premium gaming experiences.
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, especially because of its connection to a popular game on Telegram where users can earn Notcoins by simply tapping on their screens. This currency has attracted millions of users with its unique and easy-to-understand earning method, and there are even suggestions that it could be a way for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in recent months, it has shown promising signs of improvement by increasing in value over the past month. Additionally, Notcoin's integration with Telegram and TON infrastructure positions it as a significant player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as 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 investments.
Writer
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 break down complicated ideas into interesting and informative articles.
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Please note that the information provided in this blog is for general knowledge only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles belong to the writers and may not represent the official stance of NFT News Today.
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