Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Know 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 within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership over their virtual assets.
As we near 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 gaming on the blockchain but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now expanding into the Web3 gaming industry. It has been added to Valhalla, a virtual world where users can utilize FLOKI tokens for various activities.
The way it functions is that Valhalla users 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 element being worked on that will give FLOKI holders the ability to have a say in the game's future development.
In 2024, the cryptocurrency Floki Inu has experienced impressive growth over the past 30 days and one year. With a market capitalization of $1.33 billion, FLOKI is becoming more popular as more people invest in it.
Immutable X (IMX) is a solution to Ethereum's scalability issues, particularly for gaming NFTs. The platform utilizes zk-rollups to enable gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Due to its high efficiency, Immutable X has successfully attracted gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its zero-fee transactions and ability to scale quickly. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is poised for growth in 2024 as more games become 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 assets and a voice in governing the ecosystem. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This achievement comes before the introduction 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 offerings. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms such as Telegram that cater to a wider 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, high-quality 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. By merging Ethereum's security with Arbitrum's scalability and incorporating a specialized layer designed for gaming, XAI aims to provide a unique gaming experience.
XAI is establishing itself as a competitor 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-tier gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn feature that has gained significant popularity, particularly because of its integration with a popular game on Telegram that allows players to earn Notcoins by tapping on their screens. This straightforward and innovative model has attracted millions of users and has been proposed as a potential revenue stream for Telegram.
Despite experiencing a decline in value in recent months, Notcoin has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its position as an important 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 serve specific purposes such as enabling in-game economies, facilitating active governance, and supporting decentralized ownership of assets.
The tokens within Web3 Gaming are seen as the future of blockchain gaming, but it's important to understand that market conditions can change quickly. It's recommended that individuals conduct their own research before deciding to invest in this space.
Writer 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 explain complicated ideas in interesting and informative articles.
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