Exciting Web3 Gaming Tokens to Keep an Eye on by the End of 2024
With the ongoing evolution of blockchain and Web3 technology in gaming, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. 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 specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain-based gaming, but are also attracting the interest of investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now expanding into the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use FLOKI tokens for transactions and rewards.
In Valhalla, users can participate in battles and complete in-game tasks to earn FLOKI tokens. These tokens can be used to purchase items such as weapons, armor, and NFTs within the game. Additionally, there is a governance feature in progress that will enable FLOKI holders to have a say in the game's development.
By 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and one year. With a circulating market cap of $1.33 billion, FLOKI is continuing to gain popularity 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 the minting and trading of NFTs without any 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.
With no transaction fees and quick ability to grow, developers and gamers prefer using Immutable X. It 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 potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that uses Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that its games on Telegram, where users can earn rewards by tapping, now have over 3 million players. This milestone comes before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for anyone looking to engage with Gala's gaming offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala has a market cap of $730 million and is experiencing a surge in popularity.
The XAI blockchain and token are receiving attention from many interested in Web3 gaming because of their emphasis on advanced, high-quality games and their strategy for scalability. XAI is a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. It combines Ethereum's security with Arbitrum's scalability and includes a 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 is establishing 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 industry. Its play-to-earn concept has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their devices. This straightforward and innovative feature has attracted millions of users to the currency, and some have even proposed it as a potential revenue source for Telegram.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In conclusion, the gaming sector within Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming. However, it's important to understand that the market for these tokens can be unpredictable, so it's advised for readers to conduct their own research before deciding to invest.
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 easily explain complicated ideas in his articles in a way that is both interesting and informative.
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