Exciting Gaming Tokens in Web3 for 2024: Key Things to Keep an Eye on Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership of their virtual assets.
The Web3 gaming industry is gaining momentum as the year 2024 ends, with some tokens standing out as successful investments. These tokens are not only spurring advancements in blockchain gaming but are also attracting investors seeking lucrative prospects.
1. Floki Inu (FLOKI)
Originally a meme token, Floki Inu is now aiming to establish itself as a strong player in the Web3 gaming sector. It has been incorporated into Valhalla, a virtual universe where individuals can use and acquire FLOKI tokens.
The process is as follows: Valhalla players can participate in battles and complete different tasks within the game to earn FLOKI. This token can be used to purchase in-game weapons, armor, and NFTs representing Valhalla assets. Additionally, there is a governance aspect being developed that will give FLOKI holders a say in the future direction of the game.
By 2024, Floki Inu has performed strongly, showing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X is a solution designed to address the scalability issues of Ethereum, particularly in the realm of gaming NFTs. By utilizing zk-rollups technology, the platform enables users to mint and trade NFTs without incurring gas fees, making it an ideal environment for blockchain-based games. Its efficient design has attracted gaming projects such as Gods Unchained and Guild of Guardians.
Many developers and gamers prefer Immutable X because of its zero-fee transactions and ability to quickly scale. 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 option for potential growth in 2024, especially as more games become part of its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. It allows players to have true ownership of their in-game assets and a voice in how the platform is managed. 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 their new token, $TREZ.
Gala relies on the GALA token for all activities within their games, making it essential for players who wish to engage with Gala's gaming offerings. The popularity of Web3 gaming is rapidly increasing, particularly on platforms like Telegram that cater to a broader 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 sophisticated, top-notch games and their strategy for achieving scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution for Ethereum. This combination allows XAI to leverage Ethereum's security features and Arbitrum's scalability while introducing a unique layer tailored specifically for gaming purposes.
XAI is entering the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by focusing on providing both top-notch performance and security, which are essential factors for high-quality gaming experiences.
Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and focuses on the GameFi sector. It offers a play-to-earn feature that has gained significant popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This straightforward and unique method has attracted millions of users to the currency and has even been proposed as a potential source of monetization for Telegram's platform.
Despite a previous drop in value, Notcoin has recently started to recover and increase in value. Additionally, Notcoin works well with Telegram and TON infrastructure, solidifying its position as an important 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. These tokens serve different purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
The future of blockchain gaming lies in Web3 Gaming tokens, but it is important to understand that market conditions can change rapidly. It is advised for readers to conduct their own research before making any investment decisions in this space.
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 interesting and informative articles.
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