Top Web3 Gaming Tokens to Keep an Eye on in 2024: Things to Look Out for 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 within decentralized systems. These tokens play a crucial role in in-game economies by providing incentives, decision-making power, and enabling players to have full ownership of their virtual assets.
As we near the end of 2024, the Web3 gaming industry is experiencing a noticeable increase in activity, with some tokens standing out as successful assets. These tokens are not only pushing forward advancements in gaming built on blockchain technology, but they are also drawing in investors who are seeking lucrative prospects.
Floki Inu, initially created as a meme token, is now working towards establishing a presence in the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users have the ability to earn and use FLOKI tokens.
The process is as follows: Valhalla players can participate in battles and complete different tasks within the game to earn FLOKI. This digital currency 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 direction of the game moving forward.
By 2024, Floki Inu has been performing strongly, experiencing significant growth over the past 30 days and year. The circulating market cap for FLOKI is currently $1.33 billion, and its popularity is increasing as more people join the Valhalla community.
Immutable X (IMX) is a solution to Ethereum's scalability issue, particularly focusing on gaming NFTs. By using zk-rollups technology, it enables gas-free creation and trading of NFTs, making it ideal for blockchain games. Its efficiency has drawn in gaming projects such as Gods Unchained and Guild of Guardians.
Immutable X is a popular choice for developers and gamers due to 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 expected to see 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 true ownership of in-game items and a voice in the platform's governance. They recently shared that their tap-for-rewards games on Telegram have reached over 3 million users, just before the debut of their new token, $TREZ.
Gala's games require players to use the GALA token for all actions within the game, making it essential for anyone wanting to play Gala's games. 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 highly regarded in the Web3 gaming community for its emphasis on creating intricate and top-notch games and its unique approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on the Ethereum network. This combination allows XAI to leverage Ethereum's security features, Arbitrum's scalability, and a specialized gaming layer to cater specifically to the gaming industry.
XAI is emerging as a competitor in the Web3 gaming industry with a market capitalization of $139.67 million. The platform aims to establish itself in the gaming market by providing both performance and security, which are essential components for top-tier gaming experiences.
Notcoin (NTC) is a digital currency that operates within The Open Network (TON) ecosystem and is focused on the GameFi industry. It offers a play-to-earn system that has gained widespread popularity, particularly because of its connection to a popular game on Telegram where players can earn Notcoins by tapping on their screens. This simple and innovative method has attracted millions of users to the currency and has even been proposed as a potential way for Telegram to generate revenue from its platform.
Although Notcoin experienced a decrease in value in recent months, it has displayed signs of improvement by increasing in value over the past month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure ensures its important role 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 each serve unique purposes such as facilitating in-game economies, enabling active governance, and supporting 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 is recommended that individuals 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 knowledge of digital media and blockchain technology, allowing him to effectively communicate intricate ideas through interesting and informative articles.
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