Top Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
As blockchain and Web3 technology shape the future of gaming, 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 empowering players to have full ownership of their digital assets.
By the end of 2024, the Web3 gaming industry is experiencing a surge in growth, with specific tokens standing out as successful. These tokens are not only spurring advancements in blockchain gaming but are also attracting investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now aiming to establish a presence in the Web3 gaming industry. It has been included in Valhalla, a virtual world where people can use and acquire FLOKI tokens.
The way it operates is that Valhalla users can participate in 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 act as assets in Valhalla. Additionally, there is a governance aspect being worked on that would enable FLOKI holders to have a say in shaping the game's direction.
By 2024, Floki Inu has performed strongly, experiencing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is continuing to attract more investors as interest in Valhalla grows.
Immutable X is a platform that addresses Ethereum's scalability issues, particularly for gaming NFTs. It uses zk-rollups technology to enable minting and trading of NFTs without gas fees, making it a popular choice for blockchain games. Projects like Gods Unchained and Guild of Guardians have been drawn to Immutable X for its efficiency and performance.
Developers and gamers prefer Immutable X for its fee-less transactions and ability to quickly scale. The IMX token is used for governance and staking on the platform. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as more games become a 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 platform's governance. They recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before introducing their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming experience. The popularity of Web3 gaming is rapidly increasing, particularly on platforms like Telegram, which are easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
XAI is a blockchain and token that is highly regarded in the Web3 gaming community for their emphasis on creating advanced and high-quality games that can easily scale. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This integration allows XAI to benefit from Ethereum's security, Arbitrum's scalability, and a specialized layer designed specifically for gaming applications.
XAI is emerging as a significant contender 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 realm, which are essential for top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates within 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 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 revenue stream for Telegram.
Although Notcoin experienced a decrease in value recently, 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 likely to continue being an important player in the GameFi token ecosystem.
In conclusion, the gaming sector within Web3 is continually 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 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's important to understand that the market can be unpredictable. It is advised for individuals to conduct their own research before making any investment decisions.
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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