Top Gaming Tokens to Keep an Eye on in 2024: What to Look Out for Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their functionality and benefits within decentralized gaming systems. These tokens serve as the backbone of in-game economies, providing rewards, governance, and empowering players to have true ownership over their digital assets.
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. These tokens are not only leading the way in blockchain gaming innovation but are also attracting interest from investors seeking promising investment prospects.
1. Floki Inu (FLOKI) is a token that began as a meme but is now aiming to establish itself as a key player in the Web3 gaming industry. It has been included in Valhalla, a virtual world where people can use and earn FLOKI tokens.
The process goes like this: Valhalla players can participate in fights and complete different tasks within the game to earn FLOKI. They can use this token to purchase items like weapons and armor in the game, as well as NFTs that represent assets in Valhalla. Additionally, there is a governance aspect in progress that would enable FLOKI holders to have a say in the game's upcoming developments.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, showing that it is becoming more popular as more people join the Valhalla community.
Immutable X (IMX) is addressing the issue of Ethereum's limited scalability, specifically for gaming non-fungible tokens (NFTs). The platform, utilizing zk-rollups, enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has drawn interest from gaming initiatives such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its zero-fee transactions and fast scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that allows players to truly own their in-game assets and have a voice in how the platform is managed. Gala recently shared that their games on Telegram, where users can earn rewards by participating, now have over 3 million players. This milestone comes before the release of their new token, $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 is rapidly increasing, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala's market cap is currently $730 million and its popularity is on the rise.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on creating intricate and high-quality games, as well as their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This combination allows XAI to benefit from Ethereum's security features and Arbitrum's scalability, while also introducing a specialized layer tailored for gaming purposes.
XAI is emerging as a significant presence in the Web3 gaming industry, with a market capitalization of $139.67 million. The platform is aiming to establish itself in the gaming market by providing both high performance and security, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a form of digital currency that operates within The Open Network (TON) ecosystem and focuses 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 users can earn Notcoins by interacting with their screens. This simple yet innovative approach has attracted millions of users and has been proposed as a potential method for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently by increasing in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its position as an important player in the GameFi token ecosystem.
In summary, 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 seen as the future of blockchain gaming, but it's important to remember that market conditions can change rapidly. It's recommended that readers conduct their own research before making any investments in this space.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to effectively communicate complex ideas in his articles.
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Potential articles for your interest include a guide on making money from Web3 games and a list of trending Web3 gaming tokens to keep an eye on in 2024. Additionally, you can find articles on earning rewards after an airdrop and making passive income through cryptocurrency. It's important to note that the information on this blog is for informational purposes only and should not be considered financial, legal, or investment advice. The opinions expressed in the articles belong to the authors and may not align with the official stance of NFT News Today.
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