Top 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, gaming tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized systems. These tokens serve as the basis for in-game economies, providing rewards, governance, and giving players the opportunity to have true ownership of their digital assets.
The end of 2024 is showing a strong growth in the Web3 gaming industry, with specific tokens standing out as successful. These tokens are not only leading the way in innovation for blockchain gaming, but are also attracting investors seeking promising investment opportunities.
Floki Inu (FLOKI) originally began as a token created as a joke, but it is now aiming to establish a presence in the Web3 gaming industry. The token has been incorporated into Valhalla, a virtual world where users have the ability to use and earn FLOKI tokens.
This is how it functions: Valhalla players can join battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase items like weapons and armor in the game, as well as NFTs that represent assets in Valhalla. Additionally, there is a governance aspect being worked on that would enable FLOKI holders to have a say in the game's direction.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and year. The circulating market cap for FLOKI is now at $1.33 billion, indicating an increasing interest from investors as more people join the Valhalla community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. By utilizing zk-rollups technology, IMX enables gas-free minting and trading of NFTs, making it a favorable option for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free 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 is poised for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the governance of the platform. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, 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 offerings. The popularity of Web3 gaming is rapidly increasing, particularly on platforms like Telegram that appeal to a wide audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI, a blockchain and token, is gaining attention in the Web3 gaming community for its emphasis on intricate and top-notch games as well as its scalability approach. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, and includes a dedicated layer designed 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 aims to establish itself in the gaming market by providing both high performance and security, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi sector. It offers a play-to-earn feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by simply 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 decreased in the past few months, it has started to show signs of improvement recently by increasing in value over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its position as an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a unique purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to understand that market conditions can change rapidly. It is advised 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 communicate complicated ideas in his articles.
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