Top Web3 Gaming Tokens to Keep an Eye on by the End of 2024
With the evolution of blockchain and Web3 technology, tokens are becoming more popular in gaming for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have ownership over their digital assets.
The Web3 gaming industry is gaining traction as we near the end of 2024, with some tokens standing out as top performers. These tokens are fueling advancements in blockchain gaming and attracting interest from investors seeking potential growth opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now aiming to establish itself in the Web3 gaming sector. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for rewards and transactions.
In Valhalla, users 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 represent assets within Valhalla. Additionally, a governance feature is being developed that will give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains in both the 30-day and 1-year periods. With a circulating market cap of $1.33 billion, FLOKI is increasingly popular as more people join the Valhalla community.
Immutable X is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, which uses zk-rollups, enables minting and trading of NFTs without gas fees, making it ideal for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and quick scalability. The platform supports governance and staking through its IMX token. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as more games become a part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have actual ownership of in-game items and a voice in the governance of the ecosystem. They have revealed that their tap-for-rewards games on Telegram have attracted over 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 transactions, making it essential for players. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are easily accessible to a wide audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
4. The XAI blockchain and token are being closely monitored by many in the Web3 gaming community because of their emphasis on sophisticated, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, which is a Layer-2 solution on the Ethereum network. This combination allows XAI to leverage Ethereum's security features and Arbitrum's scalability, while also incorporating a unique layer designed specifically for gaming purposes.
XAI is making a name for itself in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both top performance and security in the gaming industry, which are essential for high-quality gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram. Users can earn Notcoins by simply tapping on their screens while playing the game. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin has a strong integration with Telegram and TON infrastructure, ensuring its position as an important player 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 serve specific purposes such as enabling in-game economies, facilitating active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming 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 highly recommended that readers conduct their own research before making any investments.
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 simplify complicated ideas into interesting and educational articles.
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