Top Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
As blockchain and Web3 technology shape the gaming industry, 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 enabling players to have full ownership of their digital assets.
At the end of 2024, the Web3 gaming industry is experiencing noticeable growth, with specific tokens standing out as successful. These tokens are not only promoting advancements in gaming using blockchain technology but are also attracting investors seeking potential opportunities.
1. Floki Inu, originally created as a meme token, is now positioning itself as a strong player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the ability to use and accumulate FLOKI tokens.
The way it operates is that Valhalla users can join battles and complete different tasks within the game to earn FLOKI. This digital currency can then be used to purchase in-game weapons, armor, and NFTs that act as valuable assets in Valhalla. Additionally, a governance feature is currently being worked on, giving FLOKI holders the power to impact the game's direction in the future.
By 2024, Floki Inu has experienced strong growth, showing significant gains over the past 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, indicating increasing interest and participation from investors in Valhalla.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. The platform is constructed using zk-rollups technology, enabling NFT minting and trading without requiring gas fees. This makes it an ideal platform for blockchain games. Immutable X's efficiency has drawn gaming projects such as Gods Unchained and Guild of Guardians to utilize its services.
Developers and gamers prefer Immutable X due to its zero-fee transactions and fast scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is seen as a promising option for growth in 2024, especially as more games become part of its ecosystem.
Gala Games is a platform for online gaming that allows players to have genuine ownership of their in-game items and a voice in the platform's governance. They recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million players, just before introducing their new token, $TREZ.
In Gala's games, the GALA token is used for all actions within the game, making it essential for players. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are easily accessible to a wide audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
The XAI blockchain and token are highly regarded in the Web3 gaming community for their emphasis on intricate, top-notch games and their innovative approach to scalability. 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 gaming-specific layer, XAI aims to provide a unique gaming experience.
XAI is entering the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming industry, which are essential for delivering top-notch gaming experiences.
Notcoin (NTC) is a type of digital currency that operates in The Open Network (TON) ecosystem and focuses 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 players can earn Notcoins by tapping on their screens. This unique feature has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin experienced a decline in value 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 makes it a significant player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is continuously evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve different purposes such as facilitating in-game economies, enabling active governance, and supporting 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 advised for readers to conduct their own research before making any investments.
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 articles in an engaging and informative way.
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