Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have true ownership of their digital assets.
At 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 leading the way in advancing blockchain gaming and are attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) initially began as a joke token but is now making progress in the Web3 gaming industry. It has been included in Valhalla, a virtual world where individuals can use and earn FLOKI tokens.
In Valhalla, users can participate in battles and complete tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, a governance feature is being developed that will give FLOKI holders a say in the direction of the game's development.
By 2024, Floki Inu has shown strong performance, experiencing significant growth in both the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is becoming increasingly popular as more people join the Valhalla community.
Immutable X is addressing Ethereum's issue with scalability, specifically for gaming non-fungible tokens (NFTs). By utilizing zk-rollups, the platform enables minting and trading of NFTs without gas fees, making it an ideal choice 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 fee-less transactions and ability to quickly handle large amounts of activity. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X has potential for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology to allow players to have actual ownership of in-game items and a voice in the platform's governance. They recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming experiences. The trend of Web3 gaming is gaining momentum, particularly on platforms like Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is experiencing a rapid increase in popularity.
XAI is a blockchain and token that is gaining attention in the Web3 gaming community for its emphasis on intricate, top-notch games and its scalable approach. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an added gaming-specific layer.
XAI is establishing a presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to stand out in the gaming market by providing both high performance and strong security, which are essential for premium gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn system that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its unique and easy-to-use method, and there have been discussions about using it as a way for Telegram to make money from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently by increasing in value over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its significance as a prominent player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
Although Web3 Gaming tokens are considered the future of blockchain gaming, it is important to understand that market conditions can change rapidly. It is recommended that individuals 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 background in digital media and blockchain technology, allowing him to effectively communicate complicated ideas in his articles.
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