In 2024, there are popular gaming tokens in the Web3 space that are worth keeping an eye on before the year comes to a close. With the evolution of blockchain and Web3 technology, tokens are becoming more important for their functionality and usefulness within decentralized gaming systems. These tokens play a crucial role in in-game economies by providing rewards, governance features, and empowering players to have true ownership over their digital assets.
As the year 2024 is ending, there is a noticeable increase in activity in the Web3 gaming industry, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in gaming using blockchain technology, but are also attracting the interest of investors seeking profitable prospects.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now aiming to establish a presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
Valhalla users can participate in battles and complete in-game tasks to earn FLOKI tokens. These tokens can be used to purchase weapons, armor, and NFTs within the game. Additionally, a governance feature is being developed that will give FLOKI holders a say in the game's direction.
During 2024, the cryptocurrency Floki Inu has performed strongly, showing significant growth over the past 30 days and year. With a market capitalization of $1.33 billion in circulation, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups technology, the platform enables minting and trading of NFTs without gas fees, making it ideal for blockchain games. Its efficient system has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its zero-fee transactions and quick scalability. The platform is used for governance and staking through its IMX token. 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 utilizes Web3 technology to allow players to have true ownership of virtual assets within the game and a role in determining how the platform is managed. Gala recently shared that their games on Telegram, where users can earn rewards by participating, have reached over 3 million users. This milestone comes as Gala prepares to introduce a new token called $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players looking to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more user-friendly for 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 the Ethereum network. This combination allows XAI to leverage Ethereum's security features and Arbitrum's scalability capabilities, with an additional layer tailored specifically for gaming applications.
XAI is emerging as a prominent presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming realm by prioritizing both performance and security, which are essential elements for top-tier gaming experiences.
Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) system and focuses on the GameFi industry. It offers a play-to-earn concept that has gained significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping their screens. This straightforward and unique approach has attracted millions of users and has even been proposed as a potential way for Telegram to make money from its platform.
The value of Notcoin has experienced a decline in recent months, but there are indications of a recent improvement, with its value increasing in the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its continued relevance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continually evolving, with projects 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.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can change quickly and investors should conduct their own research before making any investment decisions.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles in an interesting and informative way.
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Some suggested articles you may enjoy include tips on making money from Web3 games and a list of hot Web3 gaming tokens to keep an eye on in 2024. Additionally, you can learn how to earn rewards from the Rocky Rabbit airdrop and discover ways to generate passive income through cryptocurrency in the upcoming year. It's important to note that the information provided in this blog is for informational purposes only and should not be considered financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not align with the official stance of NFT News Today.
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