Top Web3 Gaming Tokens to Keep an Eye on by the End of 2024
As blockchain and Web3 technology reshape the gaming industry, tokens are becoming increasingly popular for their effectiveness and usefulness in decentralized environments. These tokens form the basis of in-game economies, providing benefits, governance, and enabling players to have full ownership of their virtual assets.
Towards the end of 2024, the Web3 gaming industry is experiencing a noticeable increase in activity, with specific tokens standing out as successful assets. These tokens are not only leading the way in developing blockchain-powered games but are also attracting interest from investors seeking lucrative prospects.
1. Floki Inu (FLOKI) is a cryptocurrency that initially began as a meme token but is now expanding into the Web3 gaming industry. It has been incorporated into Valhalla, a virtual world where users can use and earn FLOKI tokens.
Valhalla users can participate 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 Valhalla assets. There is also a governance aspect in progress that will give FLOKI holders a say in shaping the game's direction moving forward.
By 2024, Floki Inu has performed strongly, showing significant growth over the past 30 days and year. With a circulating market capitalization of $1.33 billion, FLOKI is increasingly becoming popular as more people join the Valhalla community.
Immutable X (IMX) is addressing Ethereum's scalability issue, particularly for gaming non-fungible tokens (NFTs). This platform, utilizing zk-rollups technology, enables NFT minting and trading without gas fees, making it a desirable option for blockchain games. Immutable X's efficiency has drawn in 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 expected to see growth in 2024 as more games become part of its ecosystem.
3. Gala (GALA)
Gala Games is a platform for online gaming that utilizes Web3 technology, allowing players to have actual ownership of in-game items and a voice in the governance of the platform. Gala recently shared that their games on Telegram, where users can earn rewards by tapping, has reached over 3 million users. This milestone comes just before the introduction of their new token, $TREZ.
Gala's games require the use of the GALA token for all in-game actions, making it essential for players. The popularity of Web3 gaming is increasing rapidly, particularly on platforms like Telegram, which 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 its token are gaining attention in the Web3 gaming community for their emphasis on developing intricate, top-notch games and their unique approach to scalability. XAI operates as a Layer-3 blockchain built on top of Arbitrum, a Layer-2 solution on Ethereum. This setup combines Ethereum's robust security with Arbitrum's scalability features, with an additional gaming-focused layer implemented for enhanced performance.
XAI is starting to make a name for itself in the Web3 gaming industry and currently has a market capitalization of $139.67 million. The platform is establishing itself in the gaming market by focusing on providing both high performance and strong security, which are essential factors for top-notch gaming experiences.
Notcoin (NTC) is a form of digital currency that operates within The Open Network (TON) ecosystem and is specifically designed for the GameFi industry. Its play-to-earn model has gained significant popularity, especially because it is integrated with a popular game on Telegram where players can earn Notcoins simply by tapping on their device screens. This unique feature has attracted millions of users to Notcoin 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 started to show signs of improvement by increasing in value over the last month. Additionally, Notcoin's compatibility with Telegram and TON infrastructure positions it as a significant player in the GameFi token ecosystem for the foreseeable future.
In summary, the gaming sector of Web3 is always evolving, with tokens like Floki Inu, Immutable X, Gala, XAI, and Notcoin leading the way. These tokens serve specific purposes such as facilitating in-game economies, enabling active governance, and supporting decentralized ownership of assets.
Although Web3 Gaming tokens represent the future of blockchain gaming, it is important to understand that market conditions 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 knowledge of digital media and blockchain technology, allowing him to explain complicated ideas in a clear and interesting way through his articles.
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The content on this blog is for informational purposes and should not be considered as financial, legal, or investment advice. The views expressed in the articles are those of the writers and may not represent the official stance of NFT News Today.
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