Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Wraps Up
The world of gaming is being reshaped by blockchain and Web3 technology, with tokens becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens serve as the building blocks of in-game economies, providing incentives, decision-making power, and the opportunity for players to have full ownership of their virtual belongings.
Towards 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 just spurring advancements in gaming on the blockchain, but are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) was initially created as a meme token but is now transitioning to becoming a strong 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 process goes like this: Users of Valhalla can participate in fights and complete different tasks within the game to earn FLOKI. The token can be used to purchase items such as weapons and armor within the game, as well as NFTs that act as assets in Valhalla. Additionally, a governance aspect is being worked on that would enable FLOKI holders to have a say in the game's direction.
By 2024, Floki Inu has shown impressive growth, experiencing significant increases in value over the past 30 days and year. With a market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, which utilizes zk-rollups technology, enables minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has gained interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and ability to quickly scale. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is predicted to experience growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. It allows players to have real ownership of assets within the game and a voice in how the platform is managed. Gala recently shared that their games on Telegram, where users can earn rewards by tapping on their screens, have reached over 3 million users. This milestone comes just 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 ecosystem. 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 gaining popularity at a fast pace.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on intricate and top-notch games as well as their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This setup merges Ethereum's security features with Arbitrum's scalability capabilities, with an additional gaming-focused layer incorporated.
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 performance and security in the gaming realm, which are essential elements for premium gaming experiences.
5. Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It utilizes a play-to-earn model that has gained significant popularity, particularly through its integration with a popular game on Telegram where users can earn Notcoins by interacting with their screens. This unique and straightforward approach has attracted millions of users and has been proposed as a potential method for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in recent months, it has started to recover and increase in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures it will continue to be an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with projects like 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 seen as the future of blockchain gaming, but it is important to understand that market conditions can change quickly. It is advised that individuals 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 explain complicated ideas in his engaging and informative articles.
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