Top Gaming Tokens to Keep an Eye on by the End of 2024
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming more 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.
By the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as top performers. These tokens are not only leading the way in blockchain gaming innovation but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu, originally created as a meme token, is now making progress in the world of Web3 gaming. It has been included in Valhalla, a virtual reality world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can participate in battles and complete different in-game tasks to earn FLOKI. They can use this token to purchase items such as weapons, armor, and NFTs within the game. Additionally, a governance feature is being developed that will enable FLOKI holders to have a say in the game's direction.
Floki Inu has performed strongly in 2024, with significant growth in both the past 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, showing that more people are becoming interested in Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically focusing on gaming NFTs. By utilizing zk-rollups technology, IMX enables gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Due to its high efficiency, Immutable X has successfully drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its fee-free transactions and ability to quickly scale. The platform uses its 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.
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have true ownership of in-game items and a voice in the platform's governance. The company recently shared that their games on Telegram, which offer rewards for participating, have attracted over 3 million users. This milestone comes as Gala prepares to introduce its new token, $TREZ.
In order to participate in Gala's games, players must use the GALA token for all in-game activities. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that are more widely accessible to a larger audience. Gala has a market cap of $730 million and is gaining popularity at a rapid pace.
XAI is a blockchain project and token that is attracting attention in the Web3 gaming community because of its emphasis on creating advanced, top-tier games and its strategy for handling scalability. XAI operates as a Layer-3 blockchain that is built on top of Arbitrum, a Layer-2 solution for Ethereum. By leveraging Ethereum's security features and Arbitrum's scalability capabilities, XAI has implemented a specialized layer designed specifically for gaming applications.
XAI is emerging as a key player 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, which are essential elements for top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It utilizes a play-to-earn system that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins simply by interacting with their screens. This unique feature has attracted millions of users and has even been proposed as a potential method for Telegram to generate revenue from its platform.
Although Notcoin's value had decreased in the past few months, it has recently shown signs of improvement by increasing in value over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its importance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a specific purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it's important to understand that market conditions can change rapidly. It's recommended that readers conduct their own research before making any investments in this space.
Jason Newey is an experienced journalist 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 intricate ideas through interesting and informative articles.
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