Top Gaming Tokens in Web3 for 2024: Things to Keep an Eye on Before the End of the Year
With the advancement of blockchain and Web3 technology, gaming tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies, providing incentives, decision-making power, and allowing 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 not only pushing forward advancements in gaming based on blockchain technology, but are also attracting the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now venturing into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for various activities.
In Valhalla, players can participate in battles and complete 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. A governance feature is also being worked on, giving FLOKI holders the ability to have a say in the direction of the game's development.
By 2024, Floki Inu has experienced significant growth, with impressive gains in both the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, showing that more people are becoming interested in Valhalla and investing in this cryptocurrency.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, the platform enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its fee-free 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 poised for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. It allows players to have real ownership of virtual assets within the games and a voice in how the platform is managed. Gala recently revealed that its games on Telegram, where users can earn rewards by tapping, have attracted over 3 million players. This milestone comes before the introduction of its new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players looking to engage with Gala's gaming ecosystem. The interest in Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are easily accessible to a wider audience. Gala currently has a market capitalization of $730 million and is experiencing a surge in popularity.
XAI (XAI) is a blockchain and token that is gaining attention in the Web3 gaming community for its emphasis on intricate and top-notch games, as well as its scalability approach. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This combination allows XAI to leverage Ethereum's security features and Arbitrum's scalability capabilities, with an added layer tailored specifically for gaming.
XAI is emerging as a prominent player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by providing both performance and security, which are essential for delivering top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It has 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 screens. This currency has attracted millions of users with its straightforward and innovative approach, and there have been discussions about using it as a method for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value recently, it has started to show signs of improvement and has been increasing in value over the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its position as a significant player in the GameFi token ecosystem.
In conclusion, the gaming sector within Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a specific purpose, such as enabling in-game economies to function, facilitating active governance, or promoting 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 is advised for readers to conduct their own research before making any investments.
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 explain complex ideas in interesting and informative articles.
See all of the
Explore these recommended articles
A complete guide on how to make money from Web3 games
Discover the top gaming tokens to keep an eye on in 2024
Share this article with others
Additional articles you may enjoy
Learn how to earn rewards from Rocky Rabbit's airdrop
Discover 8 ways to generate passive income with cryptocurrency in 2024
Please note that the information on this blog is for educational purposes only and should not be taken as financial or investment advice. The opinions expressed in the articles belong to the authors and may not represent the official stance of NFT News Today.
Sign up to receive our newsletter!