Top Web3 Gaming Tokens to Keep an Eye on in 2024: Important Things to Know Before the End of the Year
With the evolving landscape of blockchain and Web3 technology, gaming tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in shaping in-game economies by providing rewards, governance, and enabling players to have full ownership over their digital assets.
As we approach the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but are also attracting investors seeking potential growth opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a meme token but is now expanding into the Web3 gaming industry. It has now been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for various activities.
The process is as follows: Users of Valhalla can participate in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game items such as weapons and armor, as well as NFTs that represent assets in Valhalla. Additionally, there is a governance system being developed that will enable FLOKI holders to have a say in the direction of the game's future.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap for FLOKI is $1.33 billion, and more people are showing interest in Valhalla as the cryptocurrency gains popularity.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, specifically for gaming NFTs. By utilizing zk-rollups technology, IMX enables the minting and trading of NFTs without gas fees, making it an ideal choice for blockchain games. Its high level of efficiency has led to the adoption of IMX by gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free 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 seen as a promising investment for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology to provide players with actual ownership of in-game assets and a voice in the governance of the ecosystem. They have recently achieved over 3 million users on their tap-for-rewards games on Telegram, just before the introduction of their new token, $TREZ.
Gala's in-game actions are powered by the GALA token, making it essential for players who wish to engage with Gala's games. The popularity of Web3 gaming is rapidly increasing, particularly on platforms like Telegram that are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is quickly gaining popularity.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on advanced, high-quality games and their innovative scalability approach. XAI is built as a Layer-3 blockchain using Arbitrum, a Layer-2 solution on Ethereum, merging Ethereum's security with Arbitrum's scalability and including a dedicated gaming layer.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focused on providing both performance and security in the gaming space, which are essential aspects for top-notch gaming experiences.
5. Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn model that has gained significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted a large number of users with its straightforward and innovative approach, and there have been discussions about using it as a way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, there have been indications of a recent rebound with its value increasing over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure makes it a significant 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. Each token serves a specific purpose, such as facilitating in-game economies, enabling active governance, or supporting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to understand that market conditions can change rapidly. It is advised for readers to conduct their own research before making any investments.
Writer
Jason Newey is an experienced writer who focuses on topics such as NFTs, the Metaverse, and Web3 technologies. He has a strong background in digital media and blockchain technology, allowing him to effectively communicate difficult ideas in his engaging and informative articles.
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