In 2024, there are some popular gaming tokens in the Web3 space that are worth keeping an eye on as the year comes to a close. With blockchain and Web3 technology changing the gaming landscape, tokens are becoming increasingly important for their role in decentralized systems. These tokens are crucial for in-game economies, providing rewards, governance, and allowing players to have ownership over their digital assets.
By the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful players. These tokens are not only spurring advancements in gaming on the blockchain but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a token that began as a meme but is now venturing 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: Valhalla players can engage 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 act as assets in Valhalla. Additionally, there is a governance feature in progress that will enable FLOKI holders to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced strong growth, with significant increases in value over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, showing that it is becoming more popular as more people become interested in Valhalla.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). It operates on zk-rollups technology, enabling NFT minting and trading without gas fees, which is ideal 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 Immutable X for its zero-fee transactions and fast scalability. It utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned for potential growth in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have true ownership of assets within the game and a voice in the governance of the platform. Gala recently shared that their games on Telegram, which reward users for participating, have reached over 3 million users. This milestone comes as Gala prepares to introduce its new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players looking to participate in Gala's gaming ecosystem. The interest in Web3 gaming is rapidly increasing, particularly on platforms like Telegram that are easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI is a blockchain and token that is attracting attention in the Web3 gaming community for its emphasis on advanced, high-quality games and its scalability strategy. 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 incorporating a gaming-specific layer, XAI aims to offer a unique approach to gaming on the blockchain.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to provide both performance and security in the gaming space, important aspects for delivering top-notch gaming experiences.
Notcoin (NTC) is a type of virtual currency that operates on The Open Network (TON) platform and is specifically designed for the GameFi industry. It offers a play-to-earn concept that has gained significant popularity, particularly because of its integration with a popular game on Telegram where users can earn Notcoins by interacting with 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's value decreased 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 ensures that it will continue to be an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously growing, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve unique purposes such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are considered to be the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is recommended 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. He has a strong understanding of digital media and blockchain technology, allowing him to simplify intricate ideas and present them in interesting and informative articles.
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This blog provides information for educational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
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