Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Know Before the Year Wraps Up
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and functionality within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and enabling players to have full ownership of their digital assets.
As the year 2024 is ending, the Web3 gaming industry is gaining traction, with some tokens standing out as top performers. These tokens are leading the way in advancing blockchain gaming and are attracting interest from investors seeking potential opportunities.
1. Floki Inu, initially created as a meme token, is now entering the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for transactions and rewards.
The way it operates is that Valhalla users can engage in battles and complete different tasks within the game to earn FLOKI. This cryptocurrency can be used to purchase items such as weapons, armor, and NFTs within the game. Additionally, there is a governance aspect being worked on that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and year. The circulating market cap for FLOKI is currently $1.33 billion, showing that more people are becoming interested in Valhalla and investing in this cryptocurrency.
Immutable X (IMX) is a solution for Ethereum's scalability issue, particularly for gaming NFTs. Utilizing zk-rollups technology, IMX enables gas-free creation and exchange of NFTs, making it an ideal platform for blockchain games. Its efficiency has drawn gaming projects such as Gods Unchained and Guild of Guardians to use the platform.
Immutable X is a popular choice for developers and gamers due to its zero-fee transactions and fast scalability. It utilizes 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 it continues to attract more games to its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have genuine ownership of in-game assets and a role in determining how the platform is run. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the release of their new token, $TREZ.
In Gala's games, the GALA token is used for all activities, making it essential for players. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are more user-friendly. Gala has a market capitalization of $730 million and is gaining popularity quickly.
The XAI blockchain and token are receiving attention from those interested in Web3 gaming for their emphasis on sophisticated, high-quality games and their scalability strategy. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This combination merges Ethereum's security with Arbitrum's scalability and includes a specialized layer designed specifically for gaming purposes.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to establish itself in the gaming market by providing both performance and security, which are essential factors in delivering 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 model that has gained a lot of popularity, especially because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This currency has attracted a large number of users with its straightforward and unique approach, and there have been suggestions that it could be a way for Telegram to generate revenue from its platform.
Despite experiencing a decrease in value in recent months, Notcoin has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin is well integrated with Telegram and TON infrastructure, ensuring its importance as a significant player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a specific purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
Web3 Gaming tokens are considered to be the future of blockchain gaming, but it is important to understand that market conditions can change rapidly. It is advised that individuals conduct their own research before making any investments in this space.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to explain complicated ideas in a clear and interesting way through his articles.
Browse through all the
Explore these recommended articles:
– A comprehensive guide on making money from Web3 games
– A list of trending Web3 gaming tokens to keep an eye on in 2024
Don't forget to share these articles with others.
Discover more stories like:
– How to earn rewards from Rocky Rabbit after their airdrop
– Different ways to generate passive income through cryptocurrency in 2024
Please note that the content on this blog is 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.
Sign up for our newsletter to stay updated!
