Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Consider Before the End of the Year
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies, providing rewards, governance, and allowing 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 in growth, with specific tokens standing out as successful assets. These tokens are not only spurring advancements in gaming using blockchain technology, but are also attracting interest from investors seeking potential opportunities.
Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now expanding into the Web3 gaming industry. It has been included in 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 act as assets in Valhalla. Additionally, a governance feature is being developed that will give FLOKI holders the ability to have a say in the game's future direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and one year. The circulating market cap of FLOKI is currently at $1.33 billion, showing that more people are starting to show interest in Valhalla.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. The platform, which uses zk-rollups, enables the minting and trading of NFTs without gas fees, making it ideal for blockchain games. Due to its high efficiency, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and quick ability to handle growth. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is expected to continue growing in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, 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 interest in Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more widely used by the general public. Gala currently has a market capitalization of $730 million and is experiencing a surge in popularity.
The XAI blockchain and its associated token are gaining attention in the Web3 gaming community for their emphasis on creating 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 the Ethereum network. This combination incorporates Ethereum's security features with Arbitrum's scalability capabilities, while also introducing a dedicated layer designed specifically for gaming applications.
XAI is emerging as a significant player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both efficiency and security in the gaming realm, which are essential elements for top-notch 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 significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This unique feature has attracted millions of users and has even been proposed as a method 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 by increasing in value over the past month. Additionally, Notcoin has seamless integration with Telegram and TON infrastructure, ensuring its position as an important player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is always evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a unique purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are considered the future of blockchain gaming. However, it is important to understand that market conditions can change quickly and readers should conduct their own research before making any investments.
Writer
Jason Newey is an experienced writer who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively communicate complicated ideas through interesting and informative articles.
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Please note that the content on this blog is meant 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 reflect the official stance of NFT News Today.
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