Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and giving players the opportunity to have true ownership of their digital assets.
In the year 2024, the Web3 gaming industry is experiencing a surge in growth, with specific 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.
Floki Inu (FLOKI) was originally created as a meme token but is now moving towards establishing itself as a strong player in the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use FLOKI tokens for various activities.
Valhalla users can participate in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that are valuable assets in Valhalla. Additionally, a governance feature is being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
Floki Inu has shown strong performance in 2024, with significant growth over the past 30 days and year. The circulating market cap of FLOKI is currently at $1.33 billion, and more people are becoming interested in Valhalla as FLOKI gains popularity.
Immutable X is addressing Ethereum's scalability issues, specifically for gaming non-fungible tokens (NFTs). The platform utilizes zk-rollups to enable minting and trading of NFTs without gas fees, making it ideal for blockchain-based games. Immutable X's efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to its fee-less transactions and ability to scale quickly. It uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to continue growing in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of assets within the game and a voice in the governance of the ecosystem. Gala recently shared that their games on Telegram, which users can play to earn rewards, have attracted over 3 million players. This milestone comes before the release of their new token, $TREZ.
Gala's games require the use of the GALA token for all in-game activities, making it essential for players. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that are easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity rapidly.
The XAI blockchain and token are attracting attention from those interested in Web3 gaming because they prioritize developing intricate and top-notch games and have a unique approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This setup combines Ethereum's security with Arbitrum's scalability, with an additional specialized layer designed specifically for gaming.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to establish itself in the gaming market by providing both high performance and security, which are essential factors for top-tier gaming experiences.
Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and is focused 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 simply tapping on their screens. This straightforward and innovative method has attracted millions of users and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has recently started to recover and has been 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 continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens have specific purposes, such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can be unpredictable. It is recommended that individuals conduct their own 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 background in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his well-written articles.
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