Exciting Web3 Gaming Tokens to Keep an Eye on Before the End of 2024
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized systems. These tokens play a vital role in in-game economies by providing rewards, governance, and empowering players to have true ownership of their digital assets.
Towards the end of 2024, the Web3 gaming industry is experiencing notable growth, with specific tokens standing out as successful assets. These tokens are not only spurring advancements in gaming built on blockchain technology, but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a token that began as a meme and is now expanding its presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
The process is as follows: Valhalla players can participate in fights and complete different tasks within the game to earn FLOKI. This token can be used to purchase items like weapons and armor in the game, as well as NFTs that represent assets in Valhalla. Additionally, there is a governance function in progress that would give FLOKI holders a say in shaping the game's direction.
Floki Inu has performed strongly in 2024, with significant growth over the past 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, indicating increasing popularity as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, focusing on gaming NFTs. Using zk-rollups technology, the platform enables minting and trading of NFTs without gas fees, making it appealing for blockchain games. Popular gaming projects like Gods Unchained and Guild of Guardians have been drawn to Immutable X due to its efficiency.
Developers and gamers are drawn to Immutable X due to its zero-fee transactions and ability to scale quickly. The IMX token is used for governance and staking on the platform. 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 an online gaming platform that utilizes Web3 technology to allow players to truly own in-game assets and have a voice in the platform's governance. Recently, Gala revealed that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million users. This milestone comes before the release of their new token, $TREZ.
In Gala games, the GALA token is used for all activities within the game, making it essential for players who want to engage with Gala's gaming experience. 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 gaining popularity quickly.
XAI, a blockchain and token that is gaining attention in the Web3 gaming community, is known for its emphasis on advanced, high-quality games and its unique approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This setup combines the security of Ethereum with the scalability of Arbitrum, with an additional specialized layer designed 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 not just high performance, but also security, which are essential elements for top-notch gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It uses a play-to-earn system that has gained widespread popularity, particularly because of its connection to a popular game on Telegram that allows players to earn Notcoins by tapping on their screens. This straightforward and innovative approach has attracted millions of users and has been proposed as a potential way for Telegram to generate revenue from its platform.
The value of Notcoin decreased in the past few months, but 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, making it likely to continue being 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 specific purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can change rapidly. It is advised that individuals conduct their own research before making any investments in this space.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong knowledge of digital media and blockchain technology, allowing him to effectively communicate complex ideas in his articles.
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