Top Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
With the ongoing evolution of blockchain and Web3 technology, tokens are becoming increasingly popular for their role in decentralized gaming ecosystems. These tokens serve as the basis for in-game economies, providing rewards, governance, and empowering players to have true ownership over their digital assets.
As we approach the end of 2024, the Web3 gaming industry is gaining traction, with specific cryptocurrencies showing strong growth. These digital assets are not only pushing forward advancements in gaming on the blockchain, but they are also attracting the interest of investors seeking profitable prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originated as a meme token but is now expanding its presence in the Web3 gaming sector. It has been incorporated into Valhalla, a virtual world where individuals can use FLOKI tokens for various activities.
This is how Valhalla works: Users can join battles and complete different tasks within the game to earn FLOKI. They can then use this token to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, a governance feature is being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced strong growth, with significant increases in value over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, showing that more people are becoming interested in Valhalla and investing in this cryptocurrency.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, Immutable X enables the minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer using Immutable X due to its no-fee transactions and fast scalability. The platform utilizes the IMX token for governance and staking purposes. With a market cap of $2.3 billion, Immutable X is seen as a promising option for potential growth in 2024, especially as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that allows players to have actual ownership of in-game items and a voice in deciding how the platform is managed. Gala recently shared that their games on Telegram, where users can tap for rewards, have attracted over 3 million players. This milestone comes before the introduction of their new token, $TREZ.
Gala's games require the use of the GALA token for all in-game activities, making it essential for players who want to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram, which are more easily accessible to 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 being closely monitored by those interested in Web3 gaming because of their emphasis on intricate, high-quality games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. By merging Ethereum's security with Arbitrum's scalability and introducing a specialized layer for gaming, XAI aims to cater specifically to the gaming industry.
XAI is emerging as a significant player in the Web3 gaming industry with a market cap of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a form of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi sector. Its play-to-earn model has gained significant popularity, particularly because of its connection to a popular game on Telegram that allows players to earn Notcoins by tapping on their screens. This straightforward and unique approach has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Even though Notcoin's value decreased in the past few months, it has recently started to increase in value. 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 always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes, such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The tokens associated with Web3 Gaming are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is advised for readers to conduct their own research before deciding to invest in them.
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.
Browse through all the
Here are some suggested articles you might find interesting:
– A comprehensive guide on how to make money from Web3 games.
– A list of promising Web3 gaming tokens to keep an eye on before the year ends.
Feel free to share these articles with others and check out more stories on our website.
Learn how to earn rewards from Rocky Rabbit after participating in the airdrop event.
Discover 8 different ways to generate passive income through cryptocurrency in 2024.
Please note that the information shared on this blog is for educational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
Sign up for our newsletter to stay updated!
