Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
With the evolution of blockchain and Web3 technology shaping 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 over their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable surge, with specific tokens standing out as top performers. These tokens are not only fueling advancements in blockchain gaming but are also attracting investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a joke but is now expanding into the world of Web3 gaming. It has been included in Valhalla, a virtual world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons and armor, as well as NFTs that act as assets in Valhalla. Additionally, a governance feature is currently being developed, giving FLOKI holders the ability to have a say in the game's direction going forward.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is increasingly gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a platform built on zk-rollups that aims to address Ethereum's scalability issues, particularly for gaming NFTs. It enables gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Due to its efficiency, Immutable X has garnered 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 fast transactions without fees and ability to scale quickly. 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.
3. Gala (GALA)
Gala Games is a platform for online games that operates on Web3 technology, allowing players to have actual ownership of in-game items and a voice in the governance of the platform. Gala recently shared that their games on Telegram, where users can earn rewards by participating, have reached 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 engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more widely accessible to the general public. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
XAI is a blockchain and token that is gaining attention in the Web3 gaming community for their emphasis on creating intricate, top-notch games and their strategy for handling scalability issues. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination allows for the security of Ethereum and the scalability of Arbitrum, with an added layer tailored specifically for gaming purposes.
XAI is establishing a presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming realm, which are essential elements for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) system and is focused on the GameFi industry. It offers a play-to-earn feature that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its unique and straightforward earning method, and there have been suggestions for Telegram to use it as a way to generate revenue from its platform.
Even though Notcoin's value decreased in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure makes it a significant player in the GameFi token ecosystem and ensures its continued relevance.
In summary, the gaming sector of Web3 is continuously evolving, with 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 supporting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can change rapidly. It is advised for individuals to conduct thorough 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 communicate complex ideas in his articles.
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