Top 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 reshape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens serve as the basis for in-game economies, providing incentives, control, and giving players the opportunity to have true ownership over their virtual possessions.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful assets. These tokens are not only spurring advancements in gaming on the blockchain, but are also drawing the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now aiming to establish itself as a player in the Web3 gaming industry. It is now a part of Valhalla, a virtual world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can join battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase items such as weapons and armor in the game, as well as NFTs that represent assets in Valhalla. Additionally, there is a governance feature being developed that will enable FLOKI holders to have a say in the game's direction moving forward.
In the year 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and 1 year. The circulating market cap of FLOKI is currently $1.33 billion, and the cryptocurrency is gaining popularity as more people become interested in Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). By utilizing zk-rollups, IMX enables the minting and trading of NFTs without requiring gas fees, which makes it an ideal choice for blockchain games. Due to its efficiency, IMX 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 free transactions and fast ability to scale. It utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is a promising option for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is an online gaming platform that operates on Web3 technology, allowing players to have true ownership of in-game assets and a role in governing the ecosystem. They recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before the release of their new token, $TREZ.
Gala utilizes the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming platform. The interest in Web3 gaming is increasing rapidly, particularly on platforms such as Telegram that are more user-friendly for a wider audience. Gala has achieved a market capitalization of $730 million and is experiencing a rise in popularity.
XAI, a blockchain and token that is attracting attention in the Web3 gaming community, is known for its emphasis on intricate, top-notch games and its unique scalability approach. XAI operates on a Layer-3 blockchain that is built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This setup combines the security of Ethereum with the scalability of Arbitrum, with a dedicated layer tailored specifically for gaming purposes.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to stand out in the gaming market by providing both high performance and security, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) system and focuses on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because it is linked to a popular game on Telegram where users can earn Notcoins by simply tapping on their screens. This straightforward and innovative method has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
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's integration with Telegram and TON infrastructure makes it a prominent player in the GameFi token ecosystem.
In conclusion, 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's important to understand that market dynamics in this space can be unpredictable. It is advised for readers to conduct their own research before making any investments.
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 intricate ideas in his articles in a way that is easy to understand and engaging for readers.
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The content presented on this blog is for informational purposes only and should not be considered as financial, legal, or investment advice. The opinions and perspectives shared in the articles are solely those of the writers and may not represent the official stance of NFT News Today.
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