Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things 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 more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership of their virtual assets.
As we approach the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as successful assets. These tokens are not only fueling advancements in gaming built on blockchain technology, but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase items like weapons, armor, and NFTs within the game. Additionally, a governance feature is being developed that will give FLOKI holders the ability to impact the game's direction in the future.
In 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and 1 year. With a circulating market cap of $1.33 billion, FLOKI is increasingly gaining popularity as more people join the Valhalla community.
Immutable X is a platform built on zk-rollups that aims to address Ethereum's scalability issues, particularly in the realm of gaming NFTs. It enables gas-free minting and trading of NFTs, making it a popular choice for blockchain-based games. Projects such as Gods Unchained and Guild of Guardians have been drawn to Immutable X due to its high efficiency and innovative solutions.
Immutable X is a popular option for developers and gamers because it offers fee-free transactions and can scale quickly. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned for potential 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 actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their tap-for-rewards games on Telegram have attracted 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 wish to engage with Gala's game offerings. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram, which are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI is a blockchain and token that many Web3 gaming enthusiasts are keeping an eye on because of their emphasis on intricate, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This combination merges Ethereum's security with Arbitrum's scalability, while also incorporating a unique layer designed specifically for gaming purposes.
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 for top-tier gaming experiences.
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 system that has gained significant popularity, particularly because of its integration with a popular game on Telegram where users 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 revenue source for Telegram.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its importance as a significant player 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 supporting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to remember that the market for these tokens can be unpredictable. It's recommended that readers 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 communicate intricate ideas through his engaging and informative articles.
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