Exciting Web3 Gaming Tokens to Keep an Eye on by the End of 2024
With the evolution of blockchain and Web3 technology, gaming tokens are becoming more popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies, providing rewards, governance, and empowering players to have true ownership of their digital assets.
The Web3 gaming industry is experiencing a surge in growth as 2024 ends, with specific tokens standing out as successful players. These tokens are not only leading the way in advancing blockchain gaming technology but are also attracting investors seeking lucrative prospects.
1. Floki Inu, originally a token created as a meme, is now gaining traction in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for various activities.
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 can be used as assets within Valhalla. Additionally, a governance feature is currently being developed that would give FLOKI holders the ability to impact the game's direction in the future.
By 2024, Floki Inu has performed impressively, showing significant growth over the past 30 days and year. With a market capitalization of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. Utilizing zk-rollups technology, it enables gas-free creation and trading of NFTs, making it an ideal choice for blockchain games. Due to its efficiency, Immutable X has drawn attention from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its fast transactions without fees and ability to scale quickly. The platform uses the 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 gaming that operates on Web3 technology. It allows players to have genuine ownership of in-game items and a voice in the governance of the platform. Gala recently shared that its games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes just before the introduction of its new token, $TREZ.
Gala utilizes the GALA token as the primary currency for all activities within their games, making it essential for players who wish to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that cater to a wider audience. Gala has achieved a market capitalization of $730 million and is experiencing a rapid increase in popularity.
XAI is a blockchain and token that many people interested in Web3 gaming are keeping an eye on because of their emphasis on advanced games and their scalability approach. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination ensures the security of Ethereum while leveraging Arbitrum's scalability, with an added gaming-specific layer.
XAI is establishing a presence in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform aims to provide both high performance and security in the gaming market, recognizing the importance of these elements for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn system that has gained a lot of 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 unique feature has attracted millions of users and some have even proposed it as a potential way for Telegram to generate revenue.
Even though Notcoin's value decreased in recent months, it has started to show signs of improvement and has been increasing in value over the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, positioning it as a significant player in the GameFi token ecosystem.
In the world of Web3 gaming, there are several projects such as Floki Inu, Immutable X, Gala, XAI, and Notcoin that are continuously evolving. Each of these tokens serves a unique purpose, whether it be enabling in-game economies, facilitating active governance, or supporting decentralized ownership of assets.
Web3 Gaming tokens are seen as the future of blockchain gaming, but it's important to understand that the market for these tokens can be unpredictable. It is advised that individuals conduct their own research before making any investment decisions.
Writer
Jason Newey is an experienced journalist who focuses on topics such as NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to explain complicated ideas in easy-to-understand and interesting articles.
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The content on this blog is intended for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
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