Exciting Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
With the evolution of blockchain and Web3 technology shaping the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized ecosystems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have true ownership over their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with some tokens standing out as top performers. These tokens are not only pushing forward advancements in blockchain gaming, but they are also drawing interest from investors seeking potential opportunities.
1. Floki Inu, originally a meme token, is now making progress in the Web3 gaming sector. It has been incorporated into Valhalla, a metaverse where users can use and earn FLOKI tokens.
This is how the system functions: Valhalla players can join battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons and armor, as well as NFTs that represent Valhalla assets. Additionally, a governance feature is being worked on that will give FLOKI holders the ability to have a say in shaping the game's direction.
In the year 2024, Floki Inu has shown strong performance, 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 solution to Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). This platform, which utilizes zk-rollups, enables users to mint and trade NFTs without incurring gas fees, making it an ideal choice for blockchain games. Due to its high level of efficiency, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its zero-fee transactions and ability to quickly scale. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X shows potential for growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have actual ownership of in-game items and a role in governing the ecosystem. They recently shared that their games on Telegram where users can earn rewards by tapping have reached over 3 million players, just before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who want to engage with Gala's gaming ecosystem. The popularity of Web3 gaming is quickly increasing, 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 at a fast pace.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on advanced, high-quality games and their scalability strategy. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an additional gaming-focused layer.
XAI is a growing presence 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 world, which are essential elements for premium gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It uses 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 method has attracted millions of users to the currency and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value has decreased in the past few months, it has started to increase in value recently. Notcoin works well with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem will continue.
In summary, the gaming sector within Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a specific purpose, such as facilitating in-game economies, enabling active governance, or 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 change rapidly. It is recommended that individuals conduct thorough research before making any investments.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a digital media and blockchain technology background, allowing him to explain complicated ideas in his articles in an interesting and informative way.
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Please note that the information provided on this blog is for informational purposes only and should not be considered as financial, legal, or investment advice. The views expressed in the articles belong to the authors and may not represent the official stance of NFT News Today.
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