Exciting Web3 Gaming Tokens to Keep an Eye on in 2024: Key Points to Consider Before the End of the Year
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized systems. These tokens play a crucial role in in-game economies by providing rewards, governance, and empowering players to have full ownership of their digital assets.
Towards the end of 2024, there is a noticeable increase in activity within the Web3 gaming industry, with specific tokens standing out as successful assets. These tokens are not only pushing forward advancements in gaming built on blockchain technology, but are also attracting interest from investors seeking lucrative prospects.
Floki Inu (FLOKI) originally started as a joke token, 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 in 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 experienced strong performance in 2024, with significant growth over the past 30 days and year. The circulating market cap for FLOKI is now $1.33 billion, and it is continuing to attract more investors as interest in Valhalla grows.
2. Immutable X (IMX) is a platform that is addressing Ethereum's scalability issue, particularly for gaming NFTs. By using zk-rollups, Immutable X enables gas-free creation and trading of NFTs, making it an ideal choice for blockchain games. Its effectiveness has attracted gaming projects such as Gods Unchained and Guild of Guardians.
Developers and gamers prefer Immutable X for its fee-free transactions and quick scalability. The platform uses its IMX token for governance and staking. With a market cap of $2.3 billion, Immutable X is positioned for potential growth in 2024 as more games become part of its ecosystem.
Gala Games is a platform for online gaming that utilizes Web3 technology to provide players with actual ownership of in-game assets and a voice in the governance of the ecosystem. Recently, Gala reported that their tap-for-rewards games on Telegram had 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 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 gaining attention in the Web3 gaming community for their emphasis on advanced, high-quality games and their innovative approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This combination ensures the security of Ethereum while leveraging the scalability of Arbitrum, with a dedicated gaming layer added for specialized gaming applications.
XAI is emerging as a significant presence in the Web3 gaming industry, with a market capitalization of $139.67 million. The platform aims to stand out in the gaming market by providing both high performance and security, which are essential for top-tier gaming experiences.
5. Notcoin (NTC) is a type of cryptocurrency 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 straightforward and innovative approach, leading some to suggest that it could be a way for Telegram to make money from its platform.
Although Notcoin's value decreased in the past few months, it has started to show signs of improvement recently, with its value increasing over the last month. Additionally, Notcoin works well with Telegram and TON infrastructure, ensuring its importance 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 specific purpose, such as facilitating in-game economies, enabling active governance, or supporting decentralized ownership of assets.
These digital tokens for Web3 Gaming are considered to be the future of blockchain gaming. However, it is important to understand that market conditions in this space can change rapidly. It is recommended that individuals conduct their own research before considering any investments.
Jason Newey, an experienced journalist, focuses on NFTs, the Metaverse, and Web3 technologies. He has a background in digital media and blockchain technology, allowing him to effectively communicate complicated ideas through interesting and informative articles.
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The content on this blog is meant for informational purposes and should not be taken as financial, legal, or investment advice. The opinions expressed in the articles are those of the authors and may not represent the official stance of NFT News Today.
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