Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for Before the End of the Year
With blockchain and Web3 technology shaping 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 rewards, governance, and allowing players to have full ownership of their digital assets.
At the end of 2024, the Web3 gaming industry is experiencing notable growth, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but are also attracting investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Originally created as a meme token, Floki Inu is now moving towards establishing itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
In Valhalla, players can engage in battles and complete in-game tasks to earn FLOKI tokens. These tokens can be used to purchase weapons, armor, and NFTs within the game. Additionally, there is a governance feature being developed that will give FLOKI holders a say in the game's direction.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is continuing to attract more investors as it gains popularity 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 technology, Immutable X enables users to mint and trade NFTs without paying gas fees, making it an ideal platform for blockchain games. Its high level of efficiency has led to the adoption of Immutable X by gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its zero-fee transactions and ability to quickly expand. The IMX token is used for governance and staking. With a market cap of $2.3 billion, Immutable X has potential for growth in 2024 as more games become part of its ecosystem.
Gala Games is a gaming platform that utilizes Web3 technology to allow players to have true ownership of in-game assets and a voice in the platform's governance. The platform recently revealed that their tap-for-rewards games on Telegram have reached over 3 million users, just 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 who want to engage with Gala's gaming experiences. The interest in Web3 gaming is 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, top-notch games and their innovative approach to 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 dedicated gaming layer, XAI aims to cater to the unique needs of the gaming industry.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming sector, which are essential for delivering top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn feature that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This straightforward and innovative approach has attracted millions of users and has even been proposed as a potential source of revenue for Telegram.
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 continued importance in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is consistently evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin making significant progress. Each of these tokens serves a unique purpose, such as facilitating in-game economies, enabling active governance, or supporting decentralized ownership of assets.
The Web3 Gaming tokens are seen as the future of blockchain gaming, but it is important to understand that market conditions can change rapidly. 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 knowledge of digital media and blockchain technology, allowing him to effectively communicate complicated ideas in his articles.
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The content on this blog is meant for informational purposes only and should not be taken as financial, legal, or investment advice. The opinions expressed in the articles are those of the writers and may not align with the official stance of NFT News Today.
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