Top Web3 Gaming Tokens to Keep an Eye on by the End of 2024
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming more popular for their effectiveness and usefulness in decentralized systems. These tokens play a crucial role in in-game economies, providing rewards, governance, and allowing players to have true ownership over their digital assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a notable surge in growth, with specific tokens standing out as successful assets. These tokens are not only spurring advancements in blockchain gaming, but they are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) is a token that began as a joke but is now aiming to establish itself as a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use FLOKI tokens for various activities.
In Valhalla, users 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 future of the game.
By 2024, Floki Inu has experienced significant growth, with noticeable increases in value over the past 30 days and year. The circulating market cap for FLOKI is now $1.33 billion, showing that more people are becoming interested in joining the Valhalla community.
Immutable X (IMX) is a platform that addresses Ethereum's scalability issue, particularly in the realm of gaming NFTs. By utilizing zk-rollups technology, IMX enables NFT minting and trading without gas fees, making it an ideal choice for blockchain games. Its effectiveness has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its free transactions and ability to quickly scale. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X could be a promising investment for growth in 2024, especially as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the platform's governance. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, have reached over 3 million players. This milestone comes just before the introduction of Gala's new token, $TREZ.
Gala utilizes the GALA token for all activities within its games, making it essential for players who want to engage with Gala's gaming platforms. The popularity of Web3 gaming is rapidly increasing, 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 at a fast pace.
The XAI blockchain and token are being closely monitored by many in the Web3 gaming community because of their emphasis on creating intricate, top-notch games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This combination merges Ethereum's security features with Arbitrum's scalability capabilities, while also incorporating a dedicated layer tailored specifically for gaming purposes.
XAI is a growing presence in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both high performance and security in the gaming sector, which are essential for top-quality gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi industry. It offers a play-to-earn feature 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 straightforward and unique earning method has attracted millions of users and has been proposed as a potential revenue source for Telegram.
Although Notcoin experienced a decrease in value in previous months, it has started to show signs of improvement recently, with its value increasing over the past 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 world of gaming in Web3 is always evolving, with projects like Floki Inu, Immutable X, Gala, XAI, and Notcoin pushing boundaries. These tokens serve different purposes, such as facilitating in-game economies, enabling active governance, and promoting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it's important to remember that the market can be unpredictable. It's recommended that readers 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 expertise in digital media and blockchain technology, allowing him to explain complicated ideas in interesting and informative ways through his articles.
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