Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look Out for Before the End of the Year
With the evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their impact and usefulness in decentralized systems. These tokens serve as the basis for in-game economies, providing benefits, decision-making power, and the opportunity for players to have full ownership of their virtual possessions.
Towards the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful players. These tokens are not only leading advancements in blockchain gaming, but are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) was originally created 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.
The way it operates is that Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI. This currency can be used to purchase in-game weapons, armor, and NFTs that act as assets in Valhalla. Additionally, a governance feature is currently being developed that would enable FLOKI holders to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, showing that more people are becoming interested in Valhalla.
Immutable X (IMX) is addressing the issue of Ethereum's limited scalability, particularly in the realm of gaming NFTs. Utilizing zk-rollups technology, the platform enables NFT minting and trading without gas fees, making it an ideal choice for blockchain gaming. Due to its impressive efficiency, Immutable X has gained the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers are drawn to Immutable X due to its ability to process transactions without fees and scale quickly. It enables governance and staking through its IMX token. With a market cap of $2.3 billion, Immutable X is seen as a promising option for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform that allows players to have true ownership of in-game items and a voice in the platform's governance. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before introducing their new token, $TREZ.
Gala relies on the GALA token for all activities within their 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 easily accessible to a wider audience. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on advanced, high-quality games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, and introduces a specialized layer designed specifically for gaming purposes.
XAI has emerged as a significant competitor in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, recognizing the importance of these factors in delivering top-notch gaming experiences.
Notcoin (NTC) is a type of 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 players can earn Notcoins by tapping on their screens. This straightforward and innovative method has attracted millions of users to the currency and has been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement and has increased in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued importance in the GameFi token ecosystem.
In the conclusion, it is noted that the gaming sector of Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens have unique purposes such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming is being shaped by Web3 Gaming tokens. It is important to understand that market conditions are subject to sudden changes, so it is recommended for individuals to conduct their own research before making any investments.
Jason Newey is an experienced writer who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles.
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