Top Performing Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens have become increasingly popular for their usefulness and effectiveness within 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.
As we approach the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful assets. These tokens are not only pushing forward advancements in blockchain gaming, but they are also drawing interest from investors seeking potential opportunities.
Floki Inu, originally a meme token, is now making progress in the Web3 gaming industry. It has been incorporated into Valhalla, a metaverse where users can use and earn FLOKI tokens.
The process is as follows: Valhalla players can participate in fights and complete different tasks within the game to earn FLOKI. They can then use this token to purchase items like weapons and armor, as well as NFTs representing Valhalla assets. Additionally, a governance function is being worked on that would give FLOKI holders a say in shaping the game's direction.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, showing that more people are becoming interested in investing in Valhalla.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups, IMX enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its fee-less 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 positioned for potential growth in 2024 as more games are integrated into its ecosystem.
Gala Games is a platform for Web3 gaming where players have actual ownership of in-game items and can participate in governing the ecosystem. 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 utilizes the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming experiences. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that are easily accessible to a wider audience. Gala has a market capitalization of $730 million and is gaining popularity at a rapid pace.
XAI blockchain and token are being closely followed by many people interested in Web3 gaming because of their emphasis on creating intricate, top-notch games and their strategy for handling scalability issues. XAI operates as a Layer-3 blockchain that is built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup allows XAI to benefit from Ethereum's security features, Arbitrum's scalability solutions, and an additional layer tailored specifically for gaming purposes.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by focusing on providing both top-notch performance and robust security, which are essential for delivering high-quality gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. Its play-to-earn feature has gained significant popularity, particularly because of its integration with a popular game on Telegram that allows users to earn Notcoins by tapping on their screens. This straightforward and innovative method has attracted millions of users and has been proposed as a potential monetization strategy 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'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 tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each offer unique features such as enabling in-game economies, facilitating 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 recommended for readers to 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 explain complicated ideas in his engaging and informative articles.
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The content on this blog is intended for informational purposes and should not be taken as financial, legal, or investment advice. The views expressed in the articles belong to the authors and may not represent the official stance of NFT News Today.
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