As blockchain and Web3 technology continue to redefine gaming, tokens are gaining traction due to their performance and utility in decentralized ecosystems. These tokens are the foundation of in-game economies, offering rewards, governance, and the ability for players to truly own their digital assets.
As 2024 comes to a close, the Web3 gaming sector is seeing significant momentum, with certain tokens emerging as strong performers. These tokens are not only driving innovation in blockchain-based gaming but are also capturing the attention of investors looking for promising opportunities.
1. Floki Inu (FLOKI)
Floki Inu, which started out as a meme token, is making inroads toward becoming a contender in the Web3 gaming space. It is now integrated into Valhalla, a metaverse within which users can earn and spend FLOKI tokens.
Here’s how it works: Valhalla users can take part in battles and undertake various in-game assignments to earn FLOKI. They can utilize the token to acquire everything from the in-game weaponry and armour they need to NFTs that serve as Valhalla assets. There’s also a governance feature under development, which would allow FLOKI holders to influence the game’s future.
- 30-day Growth (at time of writing): +18.37%
- 1-year Growth: +694.48%
In 2024, Floki Inu has done well, seeing remarkable increases over both the 30-day and 1-year periods. With a circulating market cap of $1.33 billion, FLOKI continues gaining traction as more folks get aboard with Valhalla.
2. Immutable X (IMX)
Ethereum’s scalability problem is being solved by Immutable X, especially for gaming NFTs. The platform, built on zk-rollups, allows for gas-free minting and trading of NFTs, making it the perfect place for blockchain-based games. With its high efficiency, Immutable X has attracted gaming projects like Gods Unchained and Guild of Guardians.
- 30-day Growth (at time of writing): +26.89%
- 1-year Growth: +170.45%
Zero-fee transactions and rapid scalability make Immutable X a favoured choice among developers and gamers. It powers governance and staking with its IMX token. With a well-earned market cap of $2.3 billion, Immutable X could be a good bet for growth in 2024 as even more games join its ecosystem.
3. Gala (GALA)
Gala Games is a Web3 gaming platform that gives players real ownership of in-game assets and a say in how the ecosystem is governed. Recently, Gala announced that its tap-for-rewards games on Telegram had surpassed 3 million users, ahead of the launch of its new token, $TREZ.
- 30-day Growth (at time of writing): +21.5%
- 1-year Growth: +47.24%
Gala uses the GALA token for all in-game actions, making it a necessity for those who want to interface with Gala’s games. The appeal of Web3 gaming seems to be growing fast, especially on platforms like Telegram, which are more accessible to a mainstream audience. Gala boasts a market cap of $730 million and an accelerating popularity.
4. XAI (XAI)
The XAI blockchain and token remain on the watchlist among most into Web3 gaming due to their focus on complex, high-quality games and their approach to scalability. XAI is a Layer-3 blockchain based on Arbitrum, which is a Layer-2 solution on Ethereum, combining Ethereum’s security with Arbitrum’s scalability while adding a specialized layer specifically for gaming.
- 30-day Growth (at time of writing): +19.5%
XAI is becoming a player in the Web3 gaming sector and has a market cap of $139.67 million. The platform is positioning itself in the gaming world to offer not only performance but also security—two things that are crucial when it comes to high-end gaming experiences.
5. Notcoin (NTC)
Notcoin (NOT) is a cryptocurrency working within The Open Network (TON) ecosystem and caters to the GameFi sector. It has a play-to-earn model that has become immensely popular, especially due to its association with a well-known game on Telegram where players can earn Notcoins just by tapping on their screens. The currency has quickly hooked millions of users with this simple yet novel mechanism and has even been suggested as a way for Telegram to monetize its platform.
- 30-day Growth(at time of writing): +10.63%
Notcoin may have dropped in value over the last few months, but it has shown recent signs of recovery, growing in value over the last month. Furthermore, Notcoin integrates nicely with Telegram and TON infrastructure and is thus sure to remain a key player in the GameFi token ecosystem.
Conclusion
The gaming area of Web3 is in constant development, with Floki Inu, Immutable X, Gala, XAI, and Notcoin keeping the pace. Each of the above-named tokens represents something particular: allowing in-game economies to operate, active governance enablement, or support for decentralized ownership of assets.
While these Web3 Gaming tokens form the future of this space for blockchain gaming, it is paramount to note that market dynamics are highly volatile, and readers should do their own research before investing.
Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.
