Fake World Assets

TokenWorks

2026-08-07 00:45:27

TokenWorks raises FWA protocol fee buyback allocation to 100%

TokenWorks, an on-chain financial experimentation team, said it has increased the share of protocol fees used for buybacks in its Fake World Assets (FWA) product from 80% to 100%. The team also revised how repurchased tokens will be distributed: 40% will go to buyers, 30% to depositors, and 30% will be burned. At the same time, trades in the v4 pool will continue to carry a 1% fee retained by TokenWorks. The update outlines a full fee-to-buyback shift for FWA protocol revenue while keeping the existing v4 pool fee arrangement in place.

2460

Fake World As

2026-08-04 15:23:32

Fake World Assets Raises Buybacks to 80% of Fees After FWA Sinks to Record Low

TokenWorks, the two-person team behind NFT gacha protocol Fake World Assets, rewrote its token economics after FWA plunged to a record low and holders objected to the project’s original fee plan. The team now says it will direct up to 80% of future protocol fees to FWA buybacks and spend 327 ETH, about $610,000, to accumulate the token for a team reserve over 30 days. The change came after users realized that none of the roughly $3.2 million generated during the protocol’s first two weeks would be used for buybacks under the initial trading-launch structure. FWA fell to $0.0066 overnight before trading at $0.0083 on Tuesday, down 43% over 24 hours, according to CoinGecko. The token was also 78% below its July 26 peak of $0.03856, leaving its market capitalization near $8 million. The dispute landed as Fake World Assets’ 15-day emissions program, which distributed 30% of supply to users, ended on the same day external purchases of the token were set to open. TokenWorks later disclosed that the protocol had earned 1,735 ETH in revenue, with 63% going to the team, 30% to S02 holders, and 7% to co-developer Teto. Even after the revision, some researchers questioned whether the team’s ownership and the token’s incentive design were enough to support demand after emissions expired.

3600

TokenWorks

2026-08-04 02:00:32

TokenWorks says Fake World Assets external purchases will open on Aug. 5

TokenWorks said the initial launch phase for Fake World Assets has ended and token distribution to participants has been completed. The project plans to open external purchases at 3:00 a.m. Beijing time on Aug. 5. It also outlined changes to how protocol fees will be used going forward. According to the update, 50% of future protocol fees that would previously have gone to TokenWorks will be redirected to a buyback mechanism. Tokens acquired through that mechanism will be split three ways: 70% to buyers, 10% to depositors, and 20% to be burned. The project also adjusted two transaction parameters. The extra purchase fee will be reduced from 5% to 2.5%, while the depositor bid will rise from 85% to 90%. In addition, the buying function will be paused from 21:00 to 24:00 on Aug. 4, Beijing time, to allow depositors to withdraw.

1900

Policy Regula

2026-07-29 08:12:12

SEC scrutiny of crypto vaults grows as Robinhood Chain, FWA and Mantle draw on-chain attention

Castle Labs’ latest on-chain market note tied together four developments now shaping the crypto market: mounting regulatory scrutiny of crypto vault strategies, fast early growth on Robinhood Chain, the sudden rise of TokenWorks’ Fake World Assets on Ethereum, and Mantle’s push deeper into tokenized real-world assets. The sharpest regulatory signal came from SEC Commissioner Hester Peirce, who warned that some crypto vault strategies may raise issues normally associated with portfolio managers or investment advisers, depending on how yield activities are selected and how assets are reallocated. That framing has intensified debate over whether vault managers are operating more like code-driven infrastructure or discretionary asset managers. On the market side, Robinhood Chain has already accumulated more than $800 million in on-chain assets and nearly $500 million in stablecoin market cap, with memecoin pairs accounting for 65.9% of spot DEX volume. On Ethereum, Fake World Assets reached roughly 10% of mainnet gas consumption within seven days of launch. Mantle, marking its third anniversary, ended the second quarter with 155 tokenized stocks, more than $1 billion in DeFi TVL and $955 million in stablecoin market cap, while continuing to build liquidity and execution rails around tokenized RWA products.

2220

Fake World As

2026-07-28 16:09:40

Fake World Assets ranks second on Ethereum revenue after brief lead over Collector Crypt

Ethereum NFT gacha protocol Fake World Assets briefly moved ahead of Solana-based Collector Crypt in daily revenue after its July 20 relaunch, according to DefiLlama data cited by The Defiant. The protocol, built by the two-person team Token Works, posted $447,604 in revenue on July 25, its highest day so far, while total fees reached $1.6 million that day. Over the first four days after relaunch, it processed roughly 2,000 ETH in volume across about 90,000 transactions, including around 35,000 individual pulls. The lead did not last. In the most recent 24-hour window referenced in the report, Collector Crypt returned to the top with $270,186 in revenue, versus $167,869 for Fake World Assets. Even so, Fake World Assets remained the second-highest revenue-generating protocol on Ethereum, behind Sky at $464,303 and ahead of Aave, Uniswap, Lido, and even the amount of ETH burned by the network over the same period. The report also outlined the protocol’s mechanics, including ETH-backed NFT deposits, randomized pulls using Chainlink VRF, an 85% buyback option, and a 15-day token emission schedule for purchasers and depositors. It contrasted that early traction with Collector Crypt’s much larger June figures, including more than $209 million spent on packs and over $50 million in cumulative revenue by mid-June.

2350

Fake World As

2026-07-28 02:03:23

Fake World Assets hit about $1.3 million in revenue within days as its NFT draw model pushed FWA to a $38.8 million peak

Fake World Assets, a new Ethereum mainnet protocol built around an NFT draw mechanic, generated about $1.3 million in revenue within a little more than a week, ranking No. 15 among crypto apps by revenue over the past seven days, according to the source article. Over the same stretch, its token, FWA, moved from an opening market capitalization of roughly $47,550 to a peak of about $38.8 million. The report argues that the protocol’s structure, not the draw theme alone, explains the move. The project lets users deposit NFTs together with ETH, creating individual pools. The more ETH attached to an NFT, the lower its odds of being drawn. Depositors earn from a fixed 1% fee on each draw, an additional 1% fee tied to retained NFTs, and the spread created when most users sell unwanted NFTs back to depositors at an 85% discount. The article describes the setup as something close to an NFT AMM layered with a draw mechanism. What sets FWA apart, the report says, is that the token cannot be bought directly from outside the protocol. Users typically obtain it by drawing NFTs and choosing FWA instead of ETH when selling unwanted items back. That mechanic helped turn participation into token demand. The article contrasts this with Collector Cards, whose token utility has been criticized by its community despite solid revenue performance.

2340

NFT

2026-07-28 01:25:51

Fake World Assets Hits About $1.3 Million in Weekly Revenue as Its NFT Draw Mechanism Lifts $FWA

Fake World Assets, or FWA, has emerged as one of the most talked-about NFT trading protocols on Ethereum after generating about $1.3 million in revenue in a little over a week. The protocol ranked No. 15 among crypto applications by revenue over the past seven days, while its token, $FWA, rose from an initial market capitalization of about $47,550 to a peak of roughly $38.8 million. The model is built around an NFT “draw” system. Users deposit NFTs together with ETH, creating individual liquidity pools, and other users pay to draw from those pools. A larger paired ETH balance lowers the odds that a deposited NFT will be drawn, which creates an incentive to keep adding liquidity. Revenue comes from draw fees, additional protocol charges when a drawn NFT is kept, and the spread created when most users sell unwanted NFTs back to depositors at an 85% discount. A central feature of the design is that $FWA cannot be bought directly from outside the system. Users mainly obtain it by drawing NFTs and then opting to receive $FWA instead of ETH when selling unwanted NFTs back. The article contrasts that structure with Collector Cards, arguing that while both projects monetize a draw mechanic, FWA’s token utility is more tightly embedded in user behavior. The source article also cautions that the flywheel may be difficult to sustain if token price momentum fades.

2350