Top Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in the economies of games, providing rewards, governance, and empowering players to have genuine ownership over their virtual assets.
As we near the end of 2024, the Web3 gaming industry is gaining traction, with specific tokens standing out as top performers. These tokens are not only spurring advancements in blockchain gaming but are also attracting investors seeking potential growth opportunities.
Floki Inu (FLOKI) is a cryptocurrency that was originally created as a joke but is now gaining popularity in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where people can use and earn FLOKI tokens.
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 weapons, armor, and NFTs that represent assets within Valhalla. Additionally, a governance feature is being developed that will enable FLOKI holders to have a say in shaping the game's direction.
By 2024, Floki Inu has shown strong performance, experiencing significant growth over the past 30 days and year. With a circulating market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). It is built on zk-rollups technology, which enables gas-free minting and trading of NFTs, making it an ideal choice for blockchain-based games. Due to its high efficiency, Immutable X has gained the attention of gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers because of its zero-fee transactions and fast scalability. It uses the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to continue growing in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that allows players to have actual ownership over assets in the game and a voice in how the platform is managed. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, now have over 3 million users. This milestone comes before the introduction of their new token, $TREZ.
Gala's games require the use of the GALA token for all in-game activities, 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 highly regarded in the Web3 gaming community for their emphasis on intricate and top-notch games, as well as their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security features with Arbitrum's scalability solutions and incorporating a dedicated layer for gaming, XAI aims to enhance the gaming experience for users.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by focusing on providing both high performance and security, which are essential for top-notch 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 because of its integration with a popular game on Telegram that allows users to earn Notcoins by interacting with their screens. This straightforward and unique method has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently by increasing in value over the last month. In addition, Notcoin's compatibility 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 facilitating in-game economies, enabling active governance, or promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to understand that the market for these tokens can be unstable. It's recommended that individuals 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 engaging and informative articles.
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