Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look out for Before the End of the Year
As blockchain and Web3 technology keep changing the landscape of gaming, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens are crucial for in-game economies, providing rewards, governance, and empowering players to have true ownership of their digital assets.
Towards the end of 2024, there is a noticeable increase in activity within the Web3 gaming industry, with specific tokens standing out as top performers. These tokens are not only leading advancements in gaming using blockchain technology, but are also gaining interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now aiming to establish itself in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the opportunity to earn and use FLOKI tokens.
Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons, armor, and NFTs. Additionally, a governance feature is being developed that will give FLOKI holders a say in 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 of FLOKI is now $1.33 billion, and more people are showing interest in the cryptocurrency as it gains popularity in Valhalla.
Immutable X (IMX) is a solution on Ethereum that is addressing the issue of scalability, specifically for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, the platform enables minting and trading of NFTs without requiring gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to its zero-fee transactions and ability to quickly handle increased demand. The platform utilizes its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X shows potential for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have actual ownership of in-game items and a voice in the governance of the ecosystem. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the introduction of their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who want to engage with Gala's gaming experiences. The interest in 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 gaining popularity at a fast pace.
XAI blockchain and token are receiving attention from those interested in Web3 gaming because of their emphasis on advanced, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security with Arbitrum's scalability and introducing a tailored layer for gaming, XAI aims to offer a unique platform for gaming enthusiasts.
XAI is establishing a presence in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is focusing on providing both top-notch performance and security in the gaming realm, which are essential for delivering premium gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This straightforward and unique method has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, making it likely to continue being an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a specific purpose, such as enabling in-game economies, facilitating active governance, or supporting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it is important to remember that market conditions can change rapidly. It is recommended for readers to conduct their own research before making any investment decisions.
Writer
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 communicate complicated ideas in his articles that are both engaging and informative.
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