Exciting Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye On Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in 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.
At the end of 2024, the Web3 gaming industry is experiencing a notable surge in growth, with specific tokens standing out as successful assets. These tokens are leading the way in advancing blockchain gaming technology and are attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) is a cryptocurrency that began as a meme token but is now expanding into the Web3 gaming industry. It is currently featured in Valhalla, a virtual world where users can use FLOKI tokens for various activities.
In Valhalla, players can participate in battles and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase in-game weapons, armor, and NFTs that represent assets in Valhalla. Additionally, there is a governance feature being worked on that will give FLOKI holders the ability to have a say in the game's direction moving forward.
Floki Inu has experienced strong performance in 2024, with significant growth over the past 30 days and year. Its circulating market cap is currently at $1.33 billion, and more people are showing interest in the cryptocurrency as they join the Valhalla community.
2. Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly in relation to gaming NFTs. By utilizing zk-rollups technology, Immutable X enables users to mint and trade NFTs without having to pay gas fees, making it an ideal choice for blockchain games. Its efficiency has drawn the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X because of its zero-fee transactions and ability to quickly scale. It uses 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 an online gaming platform that operates on the Web3 technology, allowing players to have actual ownership of in-game items and a role in governing the platform. They have recently achieved over 3 million users on their tap-for-rewards games on Telegram, just before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming experiences. The interest in Web3 gaming appears to be increasing rapidly, particularly on platforms like Telegram that are more user-friendly for 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 gaining attention in the Web3 gaming community for their emphasis on intricate, high-caliber games and their scalability approach. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination ensures Ethereum's security, Arbitrum's scalability, and a dedicated gaming layer for optimal performance.
XAI is emerging as a contender in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by providing not just high performance, but also strong security measures, 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 through its integration with a popular game on Telegram where users can earn Notcoins by tapping on their screens. This unique method has attracted millions of users and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, there have been recent indications of it recovering and increasing in value over the past month. Additionally, Notcoin's seamless integration with Telegram and TON infrastructure ensures that it will continue to be an important player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each serve a unique purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets within games.
The tokens for Web3 Gaming are seen as the future of blockchain gaming, 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.
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 communicate complicated ideas through interesting and informative articles.
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