Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies by providing rewards, facilitating governance, and allowing players to have true ownership over their digital assets.
As we approach the end of 2024, there is a noticeable uptick in activity in the Web3 gaming industry, with some tokens standing out as successful. These tokens are not only leading the way in advancing blockchain-powered gaming, but they are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) is a cryptocurrency that began as a joke but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where people can use FLOKI tokens for transactions.
The way it operates is that Valhalla users can join battles and complete different tasks within the game to earn FLOKI. This currency can then be used to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, a governance aspect is being developed that will enable FLOKI holders to have a say in the game's upcoming developments.
In the year 2024, Floki Inu has been performing strongly, experiencing significant growth over both the past 30 days and the past year. With a circulating market capitalization of $1.33 billion, FLOKI is continuing to attract more people as they join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. This platform, utilizing zk-rollups, enables the minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular option for developers and gamers due to its zero-fee transactions and fast scalability. Its IMX token is used for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on the Web3 technology, allowing players to have true ownership of virtual assets within the games and a role in the governing of the platform. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes just before the introduction of their new cryptocurrency token, $TREZ.
Gala's games require the use of the GALA token for all interactions within the game, making it essential for players. 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 rapidly.
XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on sophisticated, top-notch games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination ensures the security of Ethereum while also benefiting from Arbitrum's scalability, with an additional gaming-focused layer.
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 performance and security in the gaming realm, which are essential for delivering 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 feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram that allows players to earn Notcoins by tapping on their screens. This straightforward and innovative method has attracted millions of users and has even been proposed as a potential revenue source for Telegram.
Although Notcoin experienced a decline in value in recent months, it has started to show signs of improvement, with its value increasing over the past month. Notcoin also has strong integration with Telegram and TON infrastructure, ensuring its position as a significant player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continuously evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a specific purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to understand that market conditions can be unpredictable. It's recommended for readers to conduct their own research before making any investments in this space.
Writer
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to effectively explain complicated ideas in his interesting and informative articles.
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