TokenWorks

TokenWorks is a two-person crypto studio building experimental on-chain financialization products. Its main project, Fake World Assets (FWA), is an NFT gacha protocol on Ethereum. Users deposit whitelisted NFTs (e.g., CryptoPunks, BAYC, Azuki) plus a chosen ETH amount into a shared pool. Buyers pay a unified price to randomly draw one NFT position, then choose to keep the NFT or accept the depositor's standing bid (85% of the backing ETH, optionally in FWA tokens). The selection uses Chainlink VRF for verifiable randomness.

Core value: FWA solves NFT liquidity and pricing pain points by turning static NFTs into yield-bearing, tradable positions. Depositors earn fees while their NFTs stay in the pool; buyers get a gamified acquisition experience with a built-in exit (the standing bid). The FWA token aligns incentives via emissions, buybacks, and burn mechanisms.

In the past six months (2026-03-13 to 2026-09-13): FWA launched FWAir, a mechanism allowing new NFT collections to enter the shared pool directly. Artists set a backing price per NFT; supporters fund them; if fully backed, the collection enters the pool. Artists earn ongoing acquisition fees instead of one-time mint revenue. The first FWAir project (FWAIR PFPs, 111 items at 0.25 ETH each) saw 17,735 purchase attempts from 591 wallets. A second project, Sterling Crispin's Save ETH (1,000 on-chain NFTs at 0.05 ETH each), opened for backing in late August. However, activity declined sharply after the 15-day emission program ended on August 4: daily fees dropped from a peak of $1.63M (July 25) to $11K, and TVL fell from $5M to ~$3.14M. FWA also suffered an exploit in its earlier version, where an attacker manipulated protocol state near Chainlink randomness callbacks and obtained CryptoPunk #5450; the team paused, redeployed contracts, and compensated affected owners.