Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look Out for Before the End of the Year
The gaming industry is being reshaped by blockchain and Web3 technology, with tokens becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies, providing benefits, control over decision-making, and empowering players to have full ownership of their virtual assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with some tokens standing out as successful investments. These tokens are not only spurring advancements in blockchain gaming but are also attracting interest from investors seeking lucrative opportunities.
1. Floki Inu, originally created as a meme token, is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
The process is as follows: Users of Valhalla can participate in battles and complete different tasks within the game to earn FLOKI. This digital currency can be used to purchase in-game weapons, armor, and NFTs representing assets in Valhalla. Additionally, a governance system is being worked on that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains in both the 30-day and 1-year timeframes. The circulating market cap of FLOKI is now valued at $1.33 billion, as more people are becoming interested in joining the Valhalla community.
2. Immutable X (IMX) is a solution that addresses Ethereum's scalability issue, particularly for gaming NFTs. This platform, which utilizes zk-rollups, enables the minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular option for developers and gamers due to its free transactions and fast scalability. It uses the IMX token for governance and staking. With a market cap of $2.3 billion, investing in Immutable X could be a promising opportunity for growth in 2024 as more games become part of its ecosystem.
Gala Games is an online gaming platform that utilizes Web3 technology to allow players to have actual ownership of in-game items and a voice in the platform's governance. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the introduction of their new token, $TREZ.
Gala utilizes the GALA token for all activities within its games, making it essential for individuals looking to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be on the rise, particularly on platforms such as Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is experiencing increasing popularity.
XAI blockchain and token are being closely monitored by many in the Web3 gaming community because of their emphasis on intricate, top-notch games and their strategy to address scalability issues. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This setup combines Ethereum's security features with Arbitrum's scalability, and includes a specialized layer tailored for gaming purposes.
XAI is establishing itself as a key player 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 realm, which are essential for delivering top-notch gaming experiences.
5. Notcoin (NTC) is a type of digital currency that is part of The Open Network (TON) system and is focused on the GameFi sector. It has a play-to-earn model that has gained a lot of popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its easy and innovative approach, and there have been discussions about using it as a way for Telegram to make money from its platform.
Although Notcoin's value has decreased in the past few months, there are now indications of a recent improvement, with its value increasing in the last month. Additionally, Notcoin is compatible with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with tokens 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 for Web3 Gaming are seen as the future of blockchain gaming, but it is important to remember that market conditions can change quickly. It is recommended for readers to conduct thorough 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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