Top Web3 Gaming Tokens to Keep an Eye on in 2024: Key Things to Consider Before the End of the Year
With the ongoing evolution of blockchain and Web3 technology, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized gaming systems. These tokens serve as the basis for in-game economies, providing incentives, decision-making power, and empowering players to have full ownership of their virtual assets.
At the end of 2024, there is a noticeable increase in activity within the Web3 gaming industry, with specific tokens standing out as successful. These tokens are not only pushing advancements in gaming based on blockchain technology but are also drawing in investors seeking potential opportunities.
Floki Inu (FLOKI) began as a meme token but has now shifted focus to become a player in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can utilize FLOKI tokens for various purposes.
The process is as follows: Valhalla players can engage in battles and complete different tasks within the game to earn FLOKI. They can use this token to purchase in-game weapons, armor, and NFTs that act as assets in Valhalla. Additionally, there is a governance aspect being worked on that would give FLOKI holders the ability to impact the game's direction in the future.
By 2024, Floki Inu has performed strongly, showing significant growth over the past 30 days and 1 year. With a circulating market cap of $1.33 billion, FLOKI is gaining popularity as more people join the Valhalla community.
Immutable X is a solution to Ethereum's scalability issue, specifically for gaming NFTs. It operates on zk-rollups technology, enabling NFT minting and trading without gas fees, which is 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 option for developers and gamers due to its zero-fee transactions and quick scalability. It utilizes the IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X may be a promising investment for growth in 2024 as more games become a part of its ecosystem.
Gala Games is a platform for Web3 games that allows players to have real ownership of in-game items and a voice in how the platform is managed. They recently shared that their games on Telegram, where users can earn rewards by tapping, have reached 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.
XAI is a blockchain and token that is gaining attention in the Web3 gaming community for its emphasis on intricate, top-notch games and its scalable approach. It is built on the Arbitrum Layer-2 solution on Ethereum, providing a blend of Ethereum's security and Arbitrum's scalability, with an added gaming-specific layer.
XAI is emerging as a significant participant in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to establish a presence in the gaming industry by providing both high performance and security, which are essential factors for top-notch gaming experiences.
5. Notcoin (NTC) is a type of digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi sector. It utilizes a play-to-earn model 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 currency has attracted millions of users with its straightforward and unique approach, and there are even suggestions that it could be used as a way for Telegram to generate revenue from its platform.
While 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 its prominent position in the GameFi token ecosystem.
In summary, the gaming sector of Web3 is always evolving, with projects 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 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 is advised for readers to conduct their own research before making any investments.
Jason Newey is an experienced journalist who focuses on NFTs, the Metaverse, and Web3 technologies. He has a strong understanding of digital media and blockchain technology, allowing him to effectively communicate complicated ideas through interesting and informative articles.
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