Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Look Out for 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 by providing rewards, governance, and empowering players to have true ownership over their digital assets.
At the end of 2024, the Web3 gaming industry is experiencing a lot of growth, with some tokens standing out as successful. These tokens are not only pushing forward advancements in blockchain gaming, but are also attracting investors seeking potential opportunities.
Floki Inu (FLOKI) initially began as a meme token but is now focusing on establishing itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
In Valhalla, players can participate in battles and complete 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 and future updates.
By 2024, Floki Inu has experienced significant growth, with notable increases in value over the past 30 days and year. The circulating market cap of FLOKI is now $1.33 billion, showing that more people are showing interest in the cryptocurrency and joining the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). This platform, utilizing zk-rollups, enables the minting and trading of NFTs without gas fees, making it ideal for blockchain games. Due to its effectiveness, Immutable X has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to its fee-free transactions and fast scalability. The platform utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is expected to see growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for Web3 gaming that allows players to have true ownership of in-game assets and a voice in governing the ecosystem. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the release of their new token, $TREZ.
In Gala's games, the GALA token is used for all activities, making it essential for players. The popularity of Web3 gaming is 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 quickly.
The XAI blockchain and token are receiving attention from many in the Web3 gaming community because of their emphasis on sophisticated, high-quality games and their unique approach to scalability. XAI operates as a Layer-3 blockchain built on Arbitrum, a Layer-2 solution on Ethereum. This combination leverages Ethereum's security and Arbitrum's scalability, with an additional specialized layer designed specifically for gaming.
XAI is emerging as a significant player 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 industry, which are essential elements 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 offers a play-to-earn system that has gained a lot of popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This currency has attracted millions of users with its unique and easy-to-use method, and there have been suggestions that it could be a way for Telegram to make money from its platform.
Although Notcoin experienced a decrease in value in recent months, it has started to show signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures that it will continue to be a significant player in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens has a unique purpose, 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's important to understand that the market for these tokens can be unpredictable. It's recommended that readers 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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