Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies, providing rewards, governance, and empowering players to have full ownership over their digital assets.
As the year 2024 comes to an end, the Web3 gaming industry is experiencing a lot of growth, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but they are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) is a cryptocurrency that originally began as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
In Valhalla, users can participate in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase items like weapons, armor, and NFTs within the game. Additionally, a governance feature is being worked on that would give FLOKI holders a say in the game's direction.
By 2024, Floki Inu has shown strong performance, with significant growth in both the last 30 days and over the past year. The circulating market cap of FLOKI is currently at $1.33 billion, indicating a growing interest in the cryptocurrency as more people join the Valhalla community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups technology, IMX enables NFT minting and trading without gas fees, making it an ideal environment for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular option for developers and gamers because of its zero-fee transactions and ability to quickly scale. Its IMX token is used for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to see growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. The platform allows players to have true ownership of virtual assets within games and a voice in the governance of the ecosystem. Gala recently shared that their games on Telegram, where users can earn rewards by participating, now have over 3 million users. They made this announcement in anticipation of the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who want to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is rapidly increasing, particularly on platforms like Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is quickly gaining popularity.
XAI is a blockchain and token that is being closely monitored by many in the Web3 gaming community because of its emphasis on advanced, high-quality games and its strategy for scalability. XAI operates on a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination allows XAI to leverage Ethereum's security and Arbitrum's scalability, with an added layer designed specifically for gaming purposes.
XAI is establishing itself as a competitor in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to provide both performance and security in the gaming realm, which are essential elements for top-quality gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. Its play-to-earn approach has gained significant popularity, particularly because of its connection to a popular game on Telegram that allows players to earn Notcoins by tapping on their devices. This straightforward and innovative method has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
Although 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.
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 in this space can change rapidly. It is 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 digital media and blockchain technology background, allowing him to effectively explain complicated ideas in his engaging and informative articles.
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