Exciting 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 increasingly popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and allowing players to have full ownership of their digital assets.
The year 2024 is ending with a surge in the Web3 gaming industry, as some tokens are standing out as successful performers. These tokens are not only leading the way in blockchain gaming innovation but are also drawing interest from investors seeking potential opportunities.
1. Floki Inu, originally created as a meme token, is now aiming to establish itself in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
The way it operates is that Valhalla users can join battles and complete different tasks within the game to earn FLOKI. This token can then 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.
By 2024, Floki Inu has experienced significant growth, with noticeable gains in both the past 30 days and year. The circulating market cap of FLOKI stands at $1.33 billion, showing increasing popularity as more people join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). The platform, utilizing zk-rollups technology, enables minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Due to its impressive efficiency, Immutable X has drawn interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers are increasingly choosing Immutable X due to its zero-fee transactions and quick scalability. The platform utilizes its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is seen as a promising option for potential growth in 2024 as more games become part of its ecosystem.
3. 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 governance of the platform. Gala recently shared that their games on Telegram, where users can earn rewards by tapping on their screens, have reached over 3 million players. This milestone comes 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 ecosystem. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that appeal to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
XAI, a blockchain and token, is gaining attention in the Web3 gaming community for its emphasis on advanced, high-quality games and its scalable approach. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security with Arbitrum's scalability and introducing a specialized gaming layer, XAI aims to cater to the needs of the gaming industry.
XAI is establishing a presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to provide both performance and security in the gaming realm, which are essential for delivering top-notch gaming experiences.
5. Notcoin (NTC) is a digital currency that operates on The Open Network (TON) platform and focuses on the GameFi industry. It offers a play-to-earn feature that has gained a lot of popularity, especially because of its connection to a popular game on Telegram. Players can earn Notcoins by simply tapping on their screens while playing the game. This unique method has attracted millions of users quickly and some have even proposed it as a potential source of revenue 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 has successfully integrated with Telegram and TON infrastructure, positioning it as a significant player in the GameFi token ecosystem for the foreseeable future.
In conclusion, the gaming sector of Web3 is continuously evolving with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
The Web3 Gaming tokens are seen as the future of blockchain gaming, but it is important to understand that market conditions can change quickly. 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 digital media and blockchain technology background, allowing him to effectively communicate complex ideas through engaging and informative articles.
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