The 5 Best Web3 Coins to Buy in 2024

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With Web3 enabling true decentralization and data security across the internet, its applications are virtually limitless.

As such, the technology is already being widely used in areas such as data storage, web browsers, decentralized exchanges and the Metaverse, with many more to follow.

As a result, the demand for Web3 projects is on the rise, so we’ve identified some of the best available in 2024. For us, these included 5th Scape, eTukTuk and Polkadot.

Our Picks for the Best Web3 Coins in 2024

  1. 5th Scape (5SCAPE): Blockchain gaming project promising a proprietary VR headset and chair. Its native token, $5SCAPE, is used to gain access to a range of virtual experiences.
  2. eTukTuk (TUK): Physical infrastructure project with an aim to revolutionize transport in the developing world with electronic Tuk-Tuks and charging infrastructure. Drivers can spend the project’s native currency, $TUK, at charging stations.
  3. Polkadot (DOT): The largest Web3 token currently on the market. A decentralized protocol enabling data to flow between unrelated blockchains. Its native token, $DOT, can be used for both governance and staking. 
  4. Filecoin (FIL): Decentralized cloud storage solution designed to rival the likes of Google Cloud and Dropbox. Individuals can volunteer their disk space and get rewarded in the form of $FIL. 
  5. Helium Network (HNT): A more affordable and secure alternative to wireless internet services, powered by user-owned hotspots. $HNT functions as a payment method for the service, in addition to a reward for contributing to the network.

A Closer Look at the Best Web 3.0 Crypto Coins in 2024

With elements such as protocols, peer-to-peer networking and decentralization, Web3 can be tricky to fully grasp.

Here is a more detailed look at each of the projects mentioned above, with a little more detail on how they work.

1. 5th Scape (5SCAPE): Web3 gaming with VR ecosystem 

Gaming is fast becoming one of the most popular applications of Web3 technology, using decentralization to allow gamers total authority over the experience.

5th Scape is an emerging player in this space, with a mission to create a fully-fledged VR entertainment ecosystem for its community. 

The developers argue that VR and cryptocurrency have the potential to enhance one another, creating a platform for the secure and decentralized ownership of digital assets.

A screenshot from the 5th Scape homepage

To bring the VR element to life, the developers have promised a range of proprietary tech to accompany the project, including the ‘VR Ultra Headset’ and accompanying ‘Swiftscape VR Chair’.

The project’s native token, $5SCAPE, can be used as a payment method for the items mentioned above, as well as access to the range of gaming and entertainment experiences on offer. It operates on the Ethereum chain, has a supply of 5.2 billion, and a funding presale target of $15m.

One thing potential investors should be wary of is the lack of timeline specified by the developers in terms of the VR headset and chair. This element of the roadmap is likely to be dependent heavily on the success of the presale stages. 

Pros

  • Range of proprietary tech forthcoming
  • Wide variety of content available

Cons

  • No timeline specified for launch of VR headset and chair

Project5th Scape
Ticker$5SCAPE
Max. Supply5.2 billion
Blockchain PlatformEthereum
Inception2024

2. eTukTuk (TUK): Revolutionizing transportation with AI and blockchain technology

eTukTuk is a prime example of Web3 technology being used to create a decentralized physical infrastructure network (DePIN). In an attempt to “revolutionize” transport in the developing world, the project will seek to produce a fleet of 6,000 electric Tuk-Tuks and network of charging points.

Crucially, this ecosystem will hinge on blockchain technology, with the project’s native currency, $TUK, being used by drivers to accept passenger payments and use charging points. 

A screenshot from the eTukTuk homepage

The currency will also power the project’s play-to-earn video game, loosely based on classic title Crazy Taxi. Investors can spend $TUK to play the game, and receive it as a reward. 

The platform’s ‘Power Staking’ feature also offers investors the opportunity to earn a share of the revenue earned from charging stations, adding an additional layer of utility to the $TUK token.

According to the developers, all of this is powered by a combination of Binance Smart Chain technology and AI. 

Pros

  • Unique concept
  • Native physical infrastructure
  • Play-to-earn game forthcoming

Cons

  • Highly ambitious concept

ProjecteTukTuk
Ticker$TUK
Max. Supply2 billion
Blockchain PlatformBinance (BNB)
Inception2024

3. Polkadot (DOT): Enabling blockchain interoperability

Sometimes described as a “blockchain of blockchains”, Polkadot connects various blockchains into a single ecosystem, allowing data to be transferred between networks that were previously incompatible.

As a sharded multichain protocol, the platform is able to process multiple transactions simultaneously across different chains, making it fast and scalable.

The $DOT token sits at the heart of the ecosystem, serving the three purposes of governance, staking and bonding. As a result, $DOT holders have total control over the protocol.

image 18 6

The success of $DOT speaks to its uniqueness and innovation, with the token launching at just $2.89 in 2020 and hitting its all-time of high of $55 in little over a year. 

Today, $DOT is the largest Web3 cryptocurrency in existence, with a market capitalization of more than $13m. 

The token also appears to be recovering handsomely from its 2022 crash, having added nearly 70% to its value in the 12 months to March 2024.

Pros

  • The most successful Web3 project to-date
  • Highly innovative

Cons

  • Quite a niche concept

ProjectPolkadot
Ticker$DOT
Max. Supply
Blockchain PlatformBinance (BNB)
Inception2020

4. Filecoin (FIL): Democratizing cloud storage with decentralization 

Filecoin is a leading force in providing Web3-based solutions to modern problems – in this case, a cheaper, more secure alternative to cloud storage.

Intended to rival the likes of Google Cloud, Dropbox and Amazon Web Services, the platform uses the InterPlanetary File System Protocol (IPFS) to provide an affordable and efficient storage solution worldwide.

To achieve this, the platform enables users to volunteer their disk space to a communal pool of storage, with rewards in the form of native token $FIL increasing over time.

Filecoin logo

$FIL also acts as a payment method for the storage services. This means that the token brings both utility and inherent value, making it an attractive proposition for investors. 

This is reflected in Filecoin’s success, the project qualifying as one of the top-25 crypto projects on the market due to its $5m market capitalization. 

And despite flatlining after a streak of good fortune in 2021, the coin is rebounding in 2024, up more than 50% since the beginning of the year.

Filecoin price chart

Pros

  • More affordable than mainstream storage providers
  • Huge audience potential

Cons

  • History of fickle performance

ProjectFilecoin
Ticker$FIL
Max. Supply2 billion
Blockchain PlatformBinance (BNB)
Inception2017

5. Helium Network (HNT):

Like Filecoin, Helium Network is striving to improve and democratize a popular service through a community-based approach.

Rather than cloud storage, this project focuses on wireless connectivity, with a mission to make WiFi more reliable, affordable and secure for as many people as possible.

Like Filecoin, the model for this is based on community contributions. Users are invited to contribute their hotspot nodes to the network, and are rewarded with the project’s native token, $HNT. In turn, the $HNT coin powers the network, functioning as a payment method for users of the WiFi service.

A screenshot from the Helium Network website

With the network now boasting more than 88,000 hotspots in 8,000 cities, this model is clearly flourishing.

Helium Network is also expanding into 5G, and recently announced plans to roll out a $20-a-month mobile phone tariff based on this, offering unlimited talk, text and data. 

This move to challenge the world’s centralized telecoms operators has clearly given Helium Network a boost, with $HNT having added more than 260% to its value in the past year. 

Pros

  • Already boasts a huge network
  • Audience breath is almost limitless
  • Mainstream potential with new 5g tarrif

Cons

  • Decentralized network makes it more vulnerable to attacks

ProjectHelium Network
Ticker$HNT
Max. Supply223 million
Blockchain PlatformSolana
Inception2020

What are Web3 coins?

There is often confusion surrounding Web3 and how it differs from similar concepts such as blockchain and cryptocurrency.

To clear things up, here are some common features and characteristics of Web3 tokens:

  • Utility and functionality: Through the use of decentralized applications (dApps), Web3 tokens often bring unique and innovative utility that aims to solve a particular problem or fill a gap in the market. Some of the projects mentioned above are great examples of this, providing product offerings in areas such as WiFI and cloud storage.
  • Community governance: Many Web3 tokens are hinged on community participation and governance. For instance, Helium Network requires users to contribute hotspot nodes in order to grow the product.
  • NFTs: Non-fungible tokens (NFTs) are a specific kind of Web3 token, and often form the basis of Web3 projects. NFTs can almost be seen as virtual real estate, and can play a major role in enhancing the level of digital ownership within a project.

The benefits of Web3 crypto projects

Web3 can allow developers and creators access to a world of possibilities. Here are some of the standout benefits of the technology:

  • Financial inclusion: In seeking to solve real-world problems through blockchain technology, many Web3 projects strive for increased affordability. In addition, Web3 tokens can enable the fractional ownership of assets that may otherwise have been unaffordable. 
  • Transparency: As with all blockchain technology, transactions involving Web3 tokens are completely traceable on the blockchain, and cannot be altered. This creates enhanced levels of transparency and security, in comparison with traditional financial systems.
  • Democracy: Due to their decentralized nature, Web3 projects are able to allow users to participate in decision-making processes. This is a sense of ownership and democracy that often cannot be found when engaging with traditional products or services, and again enhances the level of trust among the stakeholders.

FAQs

What are the best Web3 coins?

A range of innovation and utility is important when selecting the best Web3 coins. With that in mind, we like the gaming innovation of 5th Scape, the sustainable ethos of eTukTuk, and Polkadot’s unique way of creating interoperability between blockchains.

What are the best Web 3.0 crypto coins on Coinmarketcap?

According to Coinmarket cap, the best web3 coins by market capitalization are Polkadot ($13.3bn), Chainlink ($11.3bn) and Internet Computer ($5.8bn)

Where can I buy Web3 tokens?

A range of Web3 tokens are available across numerous centralized and decentralized exchanges. Our picks are Best Wallet, OKX and Binance.

References