Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: Important Things to Know Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology, gaming tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized ecosystems. These tokens play a crucial role in in-game economies, providing rewards, governance, and empowering players to have true ownership over their digital assets.
At the end of 2024, the Web3 gaming industry is gaining steam, with specific tokens standing out as successful. These tokens are leading the way in advancing blockchain gaming and are attracting investors seeking potential growth opportunities.
1. Floki Inu (FLOKI)
Originally known as a meme token, Floki Inu is now expanding its presence in the Web3 gaming industry. The token is now part of Valhalla, a virtual world where users can utilize FLOKI tokens for various activities like earning and spending.
The way it operates is as follows: Valhalla players can participate in battles and complete different tasks within the game to earn FLOKI. This virtual currency can be used to purchase weapons, armor, and NFTs within the game. Additionally, there is a governance system being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu is performing strongly, experiencing significant growth over the past 30 days and 1 year. With a circulating market cap of $1.33 billion, FLOKI is attracting more attention as more people join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's issue with scalability, particularly in the realm of gaming NFTs. The platform, utilizing zk-rollups, enables NFT minting and trading without the need for gas fees, making it an ideal environment for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming ventures such as Gods Unchained and Guild of Guardians.
Immutable X is popular among developers and gamers due to its zero-fee transactions and ability to quickly scale. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is a promising option for potential growth in 2024 as it continues to attract more games to its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have true ownership of their in-game assets and a voice in the platform's governance. Gala recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before introducing their new token, $TREZ.
The GALA token is used by Gala for all activities within their games, making it essential for players who want to participate in Gala's gaming experiences. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram which are more easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
XAI, a blockchain and token, is being closely monitored by many interested in Web3 gaming because of its emphasis on intricate, high-quality games and its scalable approach. XAI 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-specific layer, XAI aims to cater to the gaming industry's needs.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, recognizing the importance of these factors in delivering top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates on The Open Network (TON) 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 Notcoin by tapping on their device screens. This straightforward and unique concept has attracted millions of users and has even been proposed as a method for Telegram to generate revenue from its platform.
While Notcoin's value may have decreased in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin is compatible with Telegram and TON infrastructure, ensuring its continued importance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as facilitating in-game economies, enabling 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 the market for these tokens can fluctuate greatly. It is advised that individuals conduct their own research before making any investments in this space.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. His expertise lies in digital media and blockchain technology, allowing him to effectively communicate intricate ideas through interesting and informative articles.
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