Top Web3 Gaming Tokens to Keep an Eye on Before 2024 Ends
With the ongoing evolution of blockchain and Web3 technology in the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness within decentralized ecosystems. These tokens play a crucial role in in-game economies by providing rewards, governance, and enabling players to have true ownership over their digital assets.
At 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 sparking innovation in gaming that is based on blockchain technology, but they are also attracting interest from investors seeking potential opportunities.
Floki Inu, originally a meme token, is now expanding into the Web3 gaming industry. It has been included in Valhalla, a virtual world where users can use and earn FLOKI tokens.
The way it operates is that Valhalla users can participate 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 are considered Valhalla assets. Additionally, there is a governance aspect being developed that would enable FLOKI holders to have a say in the game's direction going forward.
By 2024, Floki Inu has experienced significant growth, with impressive gains over the past 30 days and year. The circulating market cap of FLOKI is currently at $1.33 billion, showing that more people are becoming interested in Valhalla and joining the trend.
Immutable X is a solution for Ethereum's scalability issue, particularly 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.
Developers and gamers prefer Immutable X for its fee-free transactions and ability to quickly scale. The platform uses the IMX token to facilitate governance and staking. With a market cap of $2.3 billion, Immutable X is poised for potential growth in 2024 as it continues to attract more games to its ecosystem.
Gala Games is a platform for online gaming that operates on Web3 technology. It allows 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 users. This milestone comes before the release of their new token, $TREZ.
Gala relies on the GALA token for all activities within its games, making it essential for players who wish to engage with Gala's gaming content. 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 at a fast pace.
The XAI blockchain and token are highly regarded 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 Arbitrum, a Layer-2 solution on Ethereum. By merging Ethereum's security with Arbitrum's scalability and incorporating a specialized gaming layer, XAI is well-suited for the gaming industry.
XAI is emerging as a significant contender in the Web3 gaming industry with a market capitalization of $139.67 million. The platform is focusing on providing both performance and security in the gaming realm, which are essential elements for top-notch gaming experiences.
Notcoin (NTC) is a type of cryptocurrency that operates within The Open Network (TON) ecosystem and focuses on the GameFi sector. It offers a play-to-earn model 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 innovative approach has attracted millions of users and has 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 shown signs of improvement by increasing in value over the last month. Notcoin's compatibility with Telegram and TON infrastructure makes it a significant player in the GameFi token ecosystem.
In conclusion, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. Each of these tokens serves a unique purpose, such as enabling in-game economies, facilitating active governance, or promoting decentralized ownership of assets.
Although Web3 Gaming tokens are seen as the future of blockchain gaming, it is important to understand that market conditions can change rapidly. It is advised for readers to 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 a strong knowledge in digital media and blockchain technology, allowing him to effectively explain complicated ideas in his articles in a way that is both interesting and informative.
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