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, tokens are becoming increasingly popular for their effectiveness and practicality in decentralized gaming environments. These tokens play a crucial role in in-game economies by providing rewards, enabling governance, and allowing players to have true ownership over their digital assets.
Towards the end of 2024, the Web3 gaming industry is experiencing a notable increase in growth, with specific tokens standing out as successful assets. These tokens are not only fueling progress in blockchain gaming but are also attracting the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a meme token but is now positioning itself as a player in the Web3 gaming industry. It has been included in Valhalla, a virtual world where individuals can use and acquire FLOKI tokens.
The way it operates is that Valhalla users can engage in 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 function as valuable assets in Valhalla. Additionally, a governance feature is in the works, giving FLOKI holders the ability to have a say in the game's direction going forward.
By 2024, Floki Inu has shown strong performance, with significant growth over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, indicating increasing popularity as more people join the Valhalla community.
Immutable X is a platform that aims to address Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups technology, it enables the minting and trading of NFTs without gas fees, making it an ideal choice for blockchain-based 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 free transactions and ability to scale quickly. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is considered a promising investment for potential growth in 2024 as it continues to attract more games to its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology. It allows players to have real ownership of the assets within the game, as well as a voice in the governance of the ecosystem. Gala recently revealed that their games on Telegram, which allow users to earn rewards by simply tapping on their screens, now have over 3 million players. This milestone comes 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 such as Telegram, which are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
The XAI blockchain and token are drawing attention from those interested in Web3 gaming for their emphasis on intricate, top-notch games and their scalability strategy. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup merges Ethereum's security with Arbitrum's scalability, with an added layer tailored specifically for gaming purposes.
XAI is emerging as a competitor 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-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is specifically designed for the GameFi industry. It utilizes a play-to-earn model that has gained significant popularity, particularly because of its integration with a popular game on Telegram that allows players to earn Notcoins by simply tapping on their screens. This unique feature has attracted millions of users and has been proposed as a potential revenue stream for Telegram.
While Notcoin's value declined 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 positions it as an important player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin making advancements. These tokens serve different purposes such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to understand that market conditions can change rapidly. It's advised for readers to conduct their own research before making any investments.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a background in digital media and blockchain technology, allowing him to explain intricate ideas in his articles in a clear and interesting way.
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