Exciting Gaming Tokens in Web3 for 2024: Things to Keep an Eye on Before the End of the Year
With the evolution of blockchain and Web3 technology, gaming tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies, providing incentives, decision-making power, and allowing players to have full ownership of their virtual items.
At the end of 2024, the Web3 gaming industry is experiencing a noticeable increase in activity, with specific tokens standing out as successful. These tokens are not only spurring advancements in gaming using blockchain technology, but are also attracting investors seeking potential growth opportunities.
Floki Inu (FLOKI) was initially created as a meme token but is now aiming to establish itself as a strong player in the Web3 gaming industry. The token is now a part of Valhalla, a virtual world where users can use FLOKI tokens for various activities and transactions.
In Valhalla, users can participate in fights and complete different tasks within the game to earn FLOKI tokens. These tokens can be used to purchase weapons, armor, and NFTs within the game. Additionally, there is a governance aspect being worked on that will give FLOKI holders the ability 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 1 year. With a circulating market cap of $1.33 billion, FLOKI is continuing to attract more investors as interest in Valhalla grows.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). This platform, which utilizes zk-rollups, enables NFT minting and trading without gas fees, making it ideal for blockchain games. Due to its effectiveness, Immutable X has garnered the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X because it offers fee-free transactions and the ability to scale quickly. The platform uses its 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 to grant players actual ownership of in-game items and a role in governing the ecosystem. They recently shared that their tap-for-rewards games on Telegram have attracted over 3 million users, just before the introduction of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it a crucial element for players. The popularity of Web3 gaming is on the rise, particularly on platforms like Telegram that are easily accessible to a wide audience. Gala has a market capitalization of $730 million and is gaining popularity at a rapid pace.
The XAI blockchain and token are gaining attention in the Web3 gaming community for their emphasis on sophisticated, top-tier games and their innovative scalability approach. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. By merging Ethereum's security features with Arbitrum's scalability solutions, XAI also includes a gaming-focused layer to enhance the gaming experience.
XAI is gaining traction 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 for top-notch gaming experiences.
5. Notcoin (NTC)
Notcoin (NTC) is a digital currency that operates on The Open Network (TON) platform and focuses on the GameFi industry. It utilizes a play-to-earn system that has gained significant popularity, particularly through its connection with a popular game on Telegram that allows players to earn Notcoins by tapping on their screens. This straightforward and innovative method has attracted millions of users to the currency and has even been proposed as a potential revenue source for Telegram.
Although Notcoin's value decreased in the past few months, it has started to recover recently and has seen an increase in value over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, solidifying its position as an important player in the GameFi token ecosystem.
In summary, the gaming sector within Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens each have unique features, such as facilitating in-game economies, enabling active governance, or supporting decentralized ownership of assets.
The tokens used in Web3 Gaming are seen as the future of blockchain gaming, but it is important to remember that the market for these tokens can be unpredictable. Before making any investments, readers should take the time to conduct their own research.
Writer
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 interesting and educational articles.
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