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 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 enabling players to have full ownership of their digital assets.
At the end of 2024, the Web3 gaming industry is experiencing a noticeable surge, with specific digital assets standing out as successful. These assets are not only fueling advancements in gaming on the blockchain but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Originally created as a meme token, Floki Inu is now setting its sights on becoming a player in the Web3 gaming industry. It has been included in Valhalla, a virtual universe where individuals can use and acquire FLOKI tokens.
The way it functions is that Valhalla users can join battles and complete different tasks within the game to earn FLOKI. This currency can be used to purchase in-game weapons, armor, and NFTs that represent Valhalla assets. Additionally, there is a governance aspect in progress that will enable FLOKI holders to have a say in the future of the game.
By 2024, Floki Inu has experienced significant growth, with impressive gains seen over the past 30 days and year. The circulating market cap of FLOKI is now at $1.33 billion, indicating a growing interest in the cryptocurrency as more people join the Valhalla community.
Immutable X (IMX) is a solution for Ethereum's scalability issue, focusing on gaming NFTs. Using zk-rollups technology, the platform enables gas-free creation and exchange of NFTs, making it ideal for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and quick scalability. The IMX token is used for governance and staking on the platform. Immutable X has a market cap of $2.3 billion and is expected to grow in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology, allowing players to have genuine ownership of in-game items and participate in the governance of the ecosystem. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have attracted over 3 million players. This milestone comes before the introduction of their new token, $TREZ.
Gala's in-game actions are facilitated by the GALA token, making it essential for players looking to engage with Gala's games. The popularity of Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram, which are more easily accessible to a wider audience. Gala has a market capitalization of $730 million and is experiencing a surge in popularity.
XAI blockchain and token are being closely monitored by many interested in Web3 gaming because of their emphasis on intricate, high-quality games and their strategy for scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination merges Ethereum's security with Arbitrum's scalability, with an additional layer designed 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 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 on The Open Network (TON) platform and is focused on the GameFi industry. It uses a play-to-earn system that has gained significant popularity, particularly because of its integration with a popular game on Telegram that allows players to earn Notcoins by simply tapping on their screens. This unique feature has attracted millions of users and has even been proposed as a potential revenue stream for Telegram.
Although Notcoin experienced a decrease in value recently, it 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 conclusion, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to understand that the market for these tokens can be unpredictable. It is advised for readers to conduct their own research before deciding to invest in them.
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 articles.
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The content shared on this blog is meant for educational purposes and should not be taken as financial, legal, or investment advice. The opinions expressed in the articles are solely those of the authors and may not represent the official stance of NFT News Today.
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