Top Gaming Tokens to Keep an Eye on in 2024: Important Things to Know Before the End of the Year
With the evolution of blockchain and Web3 technology, gaming tokens are becoming more popular because of their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies, providing rewards, governance, and giving players the opportunity to fully own their virtual assets.
At the end of 2024, the Web3 gaming industry is gaining momentum, with some tokens standing out as successful assets. These tokens are not only spurring advancements in gaming using blockchain technology but also attracting investors seeking lucrative prospects.
Floki Inu (FLOKI) was originally created as a meme token but is now expanding into the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use FLOKI tokens for earning and spending.
The process is as follows: Valhalla players can participate in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase in-game weapons, armor, and NFTs that act as valuable assets in Valhalla. Additionally, there is a governance function being developed that would give FLOKI holders the ability to impact the game's direction in the future.
By 2024, Floki Inu has performed admirably, experiencing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is increasingly gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a platform that aims to address Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, IMX enables gas-free minting and trading of NFTs, making it a desirable option for blockchain-based games. Its efficiency has attracted gaming projects such as Gods Unchained and Guild of Guardians to use the platform.
Developers and gamers prefer Immutable X for its zero-fee transactions and quick scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is considered a promising option for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology, allowing 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 relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more widely accessible to a broader audience. Gala currently has a market capitalization of $730 million and is experiencing a surge in popularity.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on creating intricate, top-notch games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup combines the security of Ethereum with the scalability of Arbitrum, with an added layer specifically designed 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 focusing on providing both high performance and security in the gaming realm, which are essential elements for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates in The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn system that has gained significant popularity, particularly because of its connection to 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 stream for Telegram.
Despite experiencing a decrease in value in recent months, Notcoin has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure makes it a strong contender in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve different purposes, such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming. However, it is important to understand that market conditions can change quickly, so it is advised for readers to conduct their own research before making any investment decisions.
Jason Newey, an experienced journalist, focuses on NFTs, the Metaverse, and Web3 technologies. He has a digital media and blockchain technology background, allowing him to effectively communicate intricate ideas through interesting and informative articles.
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A guide on how to make money from Web3 games and the top gaming tokens to keep an eye on for the rest of 2024.
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