Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
As blockchain and Web3 technology change the gaming industry, tokens are becoming more popular for their effectiveness and use in decentralized ecosystems. These tokens are essential for in-game economies, providing rewards, governance, and allowing players to have complete ownership of their digital assets.
Towards the end of 2024, the Web3 gaming industry is experiencing a notable increase in activity, with specific tokens standing out as successful. These tokens are not only pushing forward advancements in gaming based on blockchain technology, but are also attracting interest from investors seeking potential opportunities.
1. Floki Inu (FLOKI) is a cryptocurrency that originally began as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where individuals can use and earn FLOKI tokens.
In Valhalla, users can engage 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 game's direction.
Floki Inu has shown strong performance in 2024, with significant growth over the past 30 days and year. The circulating market cap of FLOKI is $1.33 billion, and it is becoming more popular as more people join Valhalla.
Immutable X (IMX) is addressing the issue of Ethereum's limited scalability, particularly for non-fungible tokens (NFTs) in the gaming industry. The platform utilizes zk-rollups to enable NFT minting and trading without gas fees, making it a popular choice for blockchain games. Due to its effectiveness, Immutable X has garnered interest from gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X due to its zero-fee transactions and fast scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is seen as a promising investment 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 in-game items and a voice in the governance of the platform. Gala 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.
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 such as Telegram, which are more user-friendly for a wider audience. Gala has a market capitalization of $730 million and is gaining popularity quickly.
One cryptocurrency project called XAI is gaining attention in the Web3 gaming community for its emphasis on creating sophisticated and high-quality games that can scale effectively. XAI operates on 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 layer tailored specifically for gaming applications.
XAI is emerging as a key player in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is aiming to provide both high performance and security in the gaming sector, two essential aspects for delivering top-notch 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 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 innovative approach has attracted millions of users and has even been proposed as a potential method for Telegram to generate revenue from its platform.
Although Notcoin's value decreased in the past few months, it has recently started to show signs of improvement, with its value increasing over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its continued importance in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is continuously evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a specific purpose, such as enabling in-game economies, facilitating 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 can be unpredictable. It's recommended 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 background in digital media and blockchain technology, allowing him to effectively communicate complex ideas in his articles.
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This blog provides information for educational purposes only and should not be considered as financial, legal, or investment advice. The opinions expressed in the articles are solely those of the authors and may not represent the official stance of NFT News Today.
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