Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key 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 increasingly popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, enabling governance, and giving players the opportunity to have true ownership over their digital assets.
As the year 2024 is ending, there is a noticeable increase in momentum within the Web3 gaming industry, with specific tokens standing out as successful. These tokens are not only pushing advancements in blockchain gaming, but are also attracting the interest of investors seeking promising investment opportunities.
Floki Inu (FLOKI) began as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
The process goes like this: Valhalla players can engage in 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, there is a governance aspect being worked on, giving FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced significant growth, showing impressive gains over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is increasingly popular as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming NFTs. This platform, which is based on zk-rollups, enables NFT minting and trading without gas fees, making it ideal for blockchain games. Due to its high efficiency, Immutable X has become popular among 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 quick scalability. The platform utilizes the IMX token 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 Web3 technology. It allows players to have actual ownership of in-game items and a voice in the governance of the platform. Gala recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the introduction of their new token, $TREZ.
Gala utilizes the GALA token for all activities within its games, making it essential for players who want to participate in Gala's gaming experience. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram that are more user-friendly for a broader audience. Gala has a market capitalization of $730 million and is gaining popularity at a fast pace.
The XAI blockchain and token are being closely monitored by many in the Web3 gaming community because of their emphasis on creating intricate, top-notch games and their innovative approach to scalability. XAI 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, with an additional gaming-specific layer added on top.
XAI is emerging as a significant participant 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 elements for top-notch gaming experiences.
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 concept that has gained significant popularity, particularly because of its integration with a popular game on Telegram where users can earn Notcoins by tapping on their devices. This straightforward and innovative approach has attracted millions of users to the currency and has also been proposed as a method for Telegram to generate revenue from its platform.
Although Notcoin's value has decreased in the past few months, it has started to increase in value recently. This cryptocurrency also works well with Telegram and TON infrastructure, making it likely to continue being an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve unique purposes such as enabling in-game economies, facilitating active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it is important to remember that the market for these tokens can be unpredictable. It is recommended that individuals conduct their own research before considering any investments.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong digital media and blockchain technology background, allowing him to effectively communicate complicated ideas through interesting and educational articles.
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