Top Web3 Gaming Tokens to Keep an Eye on for 2024: Things to Look Out for Before the End of the Year
With the evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly 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.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful. These tokens are not only fueling progress in gaming based on blockchain technology, but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now aiming to establish itself as a significant player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
In Valhalla, players can participate in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that are valuable assets in Valhalla. Additionally, a governance system is being developed that will give FLOKI holders the ability to have a say in the game's direction and future development.
By 2024, Floki Inu has shown strong performance, with significant growth over the last 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, indicating increasing interest as more people join the Valhalla community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. It uses zk-rollups to enable minting and trading of NFTs without gas fees, making it ideal for blockchain-based games. Due to its efficiency, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is popular among developers and gamers due to its zero-fee transactions and fast scalability. The platform utilizes the IMX token for governance and staking. With a market capitalization of $2.3 billion, Immutable X is seen as a promising investment for potential growth in 2024, especially as more games become part of its ecosystem.
Gala Games is an online gaming platform that operates on Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their tap-for-rewards games on Telegram have exceeded 3 million users, just before the release 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 appeal to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
XAI (XAI) is a blockchain and token that is being closely monitored by many interested in Web3 gaming. This is because of their emphasis on creating sophisticated, top-notch games and their unique approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, which is a Layer-2 solution on the Ethereum network. By leveraging Ethereum's security and Arbitrum's scalability, XAI has also added a specialized layer tailored specifically for gaming purposes.
XAI is emerging as a significant presence 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 performance and security, which are essential elements for top-tier gaming experiences.
5. Notcoin (NTC)
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) environment 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 simply tapping on their devices. This straightforward and innovative approach has attracted millions of users to the currency and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value may have decreased in the past few months, it has recently started to show signs of growth, increasing in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In conclusion, the gaming sector in Web3 is always evolving, with tokens 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 future of blockchain gaming lies in Web3 Gaming tokens, but it's important to remember that market conditions can change rapidly. It's advised for readers to conduct their own research before making any investments.
Jason Newey is an experienced writer who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong foundation in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles in an interesting and informative way.
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