Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look Out for Before the End of the Year
As blockchain and Web3 technology keep changing the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens are crucial for in-game economies, providing rewards, governance, and giving players the chance to have true ownership of their digital assets.
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 pushing forward advancements in blockchain gaming, but are also attracting interest from investors seeking profitable prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a joke, but is now moving towards establishing itself as a player in the world of Web3 gaming. It has been incorporated into Valhalla, a virtual world where people 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, a governance feature is being developed that will give FLOKI holders the ability to have a say in the game's direction moving forward.
By 2024, Floki Inu has experienced significant growth, showing impressive gains over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is increasingly popular as more people join the Valhalla community.
2. Immutable X (IMX) is a solution to Ethereum's scalability issue, specifically for gaming NFTs. This 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 efficiency, Immutable X has gained the interest of gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its free transactions and quick scalability. The platform uses its 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, especially as more games become part of its ecosystem.
Gala Games is a platform for online gaming that allows players to have actual ownership of in-game items and a voice in how the platform is managed. They recently shared that their reward-based games on Telegram have attracted over 3 million users, just before introducing their new token, $TREZ.
Gala's games require the use of the GALA token for all actions within the game, 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 gaining attention in the Web3 gaming community for their emphasis on sophisticated, high-quality games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 scaling solution for Ethereum. This unique combination leverages Ethereum's security and Arbitrum's scalability, with an additional layer tailored specifically for gaming applications.
XAI is emerging as a significant presence 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 sector, which are essential elements for top-tier 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 utilizes a play-to-earn model that has gained significant popularity, particularly because of its connection to a popular game on Telegram where users can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its unique and straightforward earning method, and there have been suggestions that it could be a way for Telegram to generate revenue from its platform.
Although the value of Notcoin decreased in recent months, it has started to recover and increase in value over the past month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its importance in the GameFi token ecosystem.
In conclusion, the gaming sector within the Web3 space is always growing and evolving. Tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin are at the forefront of this development, each serving a specific purpose such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
The tokens used for Web3 Gaming are seen as the future of blockchain gaming, but it's important to understand that the market can be unpredictable. It's recommended that individuals 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 intricate ideas through his engaging and informative articles.
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