Top Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on 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 environments. These tokens serve as the building blocks of in-game economies, providing benefits, decision-making power, and the opportunity for players to have genuine ownership of their virtual possessions.
The Web3 gaming industry is gaining momentum as we near the end of 2024, with some tokens standing out as successful. These tokens are not only spurring innovation in gaming using blockchain technology, but also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now expanding into the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use FLOKI tokens for various transactions.
The way it operates is as follows: Valhalla players can participate in fights and complete different tasks within the game to earn FLOKI. This currency can be used to purchase in-game weapons and armor, as well as NFTs that act as assets in Valhalla. Additionally, there is a governance element being worked on that would enable FLOKI holders to have a say in the game's direction.
In the year 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and year. The circulating market cap of FLOKI is currently $1.33 billion, and it is becoming more popular as more people join Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups, IMX enables gas-free minting and trading of NFTs, making it an ideal solution for blockchain games. Its high efficiency has drawn interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular option for developers and gamers due to its zero-fee transactions and quick scalability. It uses the IMX token to support governance and staking. Currently valued at $2.3 billion, Immutable X could see further growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates using Web3 technology. It allows players to have true ownership of in-game items and a voice in decision-making for the gaming community. Gala recently shared that their games on Telegram, which offer rewards for engagement, have reached over 3 million users. This milestone comes just before the launch of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming experience. The popularity of Web3 gaming appears to be increasing rapidly, 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 highly regarded in the Web3 gaming community for its emphasis on intricate, top-tier games and its scalability strategy. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This setup combines the security of Ethereum with the scalability of Arbitrum, and includes a gaming-specific layer for enhanced performance.
XAI is emerging as a significant presence in the Web3 gaming industry, with a market capitalization of $139.67 million. The platform aims to provide both performance and security in the gaming realm, which are essential components for top-notch gaming experiences.
5. Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It utilizes a play-to-earn system that has gained significant popularity, largely due to its integration with a popular game on the messaging app Telegram. Players can earn Notcoins by simply tapping on their screens, attracting millions of users with its easy and unique method. Some have even proposed using Notcoin as a way for Telegram to generate revenue from its platform.
The value of Notcoin may have decreased in the past few months, but it has started to show signs of improvement recently, increasing in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its position as an important player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens offer unique features such as enabling in-game economies, supporting active governance, and facilitating decentralized ownership of assets.
Web3 gaming tokens are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is recommended for readers to conduct their own research before deciding to invest in them.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to effectively communicate complicated ideas in his articles that are both interesting and informative.
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