Top Gaming Tokens to Keep an Eye on in 2024: Key Things to Consider 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 of their digital 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 investments. These tokens are not only pushing forward advancements in gaming on the blockchain, but are also drawing the interest of investors seeking lucrative opportunities.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now expanding its presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for rewards and transactions.
The way it operates is that Valhalla users can engage in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase items such as weapons, armor, and NFTs within the game. Additionally, a governance feature is being developed that will enable FLOKI holders to have a say in the game's direction going forward.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). The platform, utilizing zk-rollups technology, 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 drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is popular among developers and gamers for its free transactions and quick scalability. The IMX token enables governance and staking on the platform. 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 uses Web3 technology. It allows players to truly own in-game items and have a voice in how the platform is managed. The platform recently shared that its games on Telegram, which reward users for tapping, now have over 3 million players. Gala is also preparing to launch a new token called $TREZ.
In Gala's games, the GALA token is used for all in-game activities, making it essential for players. The popularity of Web3 gaming is increasing rapidly, 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 quickly.
The XAI blockchain and token are being closely monitored by many in the Web3 gaming community for their emphasis on sophisticated, high-quality games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This allows XAI to combine the security of Ethereum with the scalability of Arbitrum, with an additional layer tailored specifically for gaming.
XAI is emerging as a significant participant in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to establish itself in the gaming market by providing both performance and security, which are essential for top-tier gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It utilizes a play-to-earn model that has gained significant popularity, particularly because of its integration with a popular game on Telegram. Users can earn Notcoins by simply tapping on their screens while playing the game. This straightforward and innovative approach has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
The value of Notcoin decreased in the past few months but has started to recover recently, showing growth in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In summary, the world of gaming in Web3 is always evolving, with projects 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 promoting decentralized ownership of assets.
Although Web3 Gaming tokens represent 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 in this space.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong foundation in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles in an interesting and informative way.
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The content on this blog is meant for informational purposes and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are solely those of the authors and may not align with the official stance of NFT News Today.
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