Top Web3 Gaming Tokens to Keep an Eye on Before 2024 is Over
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and practicality within decentralized systems. These tokens serve as the basis for in-game economies, providing incentives, decision-making power, and enabling players to have full ownership of their virtual assets.
Towards the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful assets. These tokens are not only leading the way in blockchain gaming advancements but are also attracting the interest of investors seeking lucrative prospects.
Floki Inu (FLOKI) was initially created as a joke token, but it is now expanding its presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
In Valhalla, users can participate in battles and complete tasks within the game to earn FLOKI tokens. These tokens can then be used to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, there is a governance feature being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced significant growth in value over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is attracting more investors as it gains popularity with Valhalla enthusiasts.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, utilizing zk-rollups, enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Due to its high efficiency, Immutable X has gained interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to its fee-less transactions and fast scalability. It uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to continue growing in 2024 as more games are added to its platform.
3. Gala (GALA)
Gala Games is a platform for online gaming that operates using Web3 technology. It allows players to have actual ownership of assets within the game and a voice in decisions regarding the platform's governance. Gala recently shared that their games on Telegram, where users can earn rewards by participating, have attracted over 3 million users. This milestone comes before the introduction 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 participate in Gala's gaming ecosystem. The popularity of 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.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on advanced, high-quality games and their innovative scalability approach. XAI is a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum, which merges Ethereum's security with Arbitrum's scalability features and includes a dedicated gaming layer.
XAI is starting to make a name for itself in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is aiming to establish itself in the gaming market by providing both high performance and security, which are essential factors for top-notch gaming experiences.
Notcoin (NTC) is a 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, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by simply tapping on their screens. This straightforward and innovative approach has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
While Notcoin experienced a decline in value in recent months, it has started to show signs of improvement by increasing in value in the past 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 projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it's important to understand that the market can be unpredictable. It is strongly advised for readers to conduct their own research before making any investments.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a background in digital media and blockchain technology, allowing him to effectively communicate complicated ideas in his engaging and informative articles.
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Please note that the content on this blog is for informational purposes and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are solely those of the authors and may not represent the official stance of NFT News Today.
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