Top Gaming Tokens in 2024: Key Things to Keep an Eye on Before the End of the Year
With the advancements in blockchain and Web3 technology, gaming tokens are becoming more 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 true ownership over their digital assets.
As the year 2024 is ending, the Web3 gaming industry is experiencing a lot of growth, with some tokens standing out as successful. These tokens are not only pushing forward innovation in gaming using blockchain technology, but are also drawing interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originated as a joke, but is now aiming to establish itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use and collect FLOKI tokens.
The process is as follows: Valhalla players can engage in fights and complete different tasks within the game to earn FLOKI. This currency can be used to purchase in-game items like weapons and armor, as well as NFTs representing Valhalla assets. Additionally, there is a governance aspect being developed that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth in both the last 30 days and the past year. With a circulating market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming non-fungible tokens (NFTs). By utilizing zk-rollups technology, it enables minting and trading of NFTs without requiring gas fees, which is ideal for blockchain games. Due to its effectiveness, Immutable X has garnered the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free transactions and quick scalability. The platform allows for governance and staking through its IMX token. With a current market cap of $2.3 billion, Immutable X is seen as a promising option for potential growth in 2024, especially as more games become part of its ecosystem.
Gala Games is a platform for online games that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes before the launch 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 experiences. The popularity of Web3 gaming is quickly increasing, particularly on platforms like Telegram that cater to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity rapidly.
XAI is a blockchain and token that is attracting attention in the Web3 gaming community for its emphasis on sophisticated games and scalability. It operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup combines the security of Ethereum with the scalability of Arbitrum, and includes a specialized layer designed specifically for gaming purposes.
XAI is emerging as a significant presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming realm, which are essential factors for top-tier gaming experiences.
5. Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It utilizes a play-to-earn system that has gained significant popularity, particularly due to its integration with a popular game on Telegram where users can earn Notcoins by interacting with their screens. This straightforward and innovative approach has attracted millions of users and has even been proposed 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 position as an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a unique purpose, such as facilitating in-game economies, enabling active governance, or 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.
Writer
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 engaging and informative articles.
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