Top Gaming Tokens to Keep an Eye on in 2024: Important Things to Know Before the Year is Over
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 ecosystems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have full ownership of their digital assets.
With the end of 2024 approaching, the Web3 gaming industry is experiencing a notable surge in growth, with specific tokens standing out as successful. These tokens are not only leading the way in advancements in blockchain gaming, but they are also drawing interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originated as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
The way it operates is as follows: Users of Valhalla can participate in battles and complete different tasks within the game to earn FLOKI. This digital currency can be used to purchase in-game weapons, armor, and NFT collectibles related to Valhalla. Additionally, there is a governance system being developed that will enable FLOKI holders to have a say in the direction of the game going forward.
By 2024, Floki Inu has experienced significant growth, showing impressive gains over the past 30 days and year. The circulating market cap of FLOKI is currently at $1.33 billion, indicating that more people are becoming interested in Valhalla and investing in the cryptocurrency.
2. Immutable X (IMX) is addressing Ethereum's scalability issue, particularly for gaming NFTs. This platform is based on zk-rollups and enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer using Immutable X due to its zero-fee transactions and fast scalability. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is expected to see growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that allows players to have actual ownership of in-game items and a voice in the platform's governance. They recently shared that their games on Telegram, where users can tap for rewards, have reached over 3 million players. This achievement comes just before the launch 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 rapidly increasing, especially on platforms like Telegram that appeal to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on intricate, top-notch games and their innovative approach to scalability. XAI is a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination leverages Ethereum's security and Arbitrum's scalability, with an additional gaming-focused layer for enhanced performance.
XAI is emerging as a contender in 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 both high performance and security, which are essential for top-tier 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, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential revenue stream for Telegram.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure positions it as a significant player within 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 specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, although it is important to acknowledge that the market can be unpredictable. 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 complicated ideas in his articles.
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