Token Works’ Fake World Assets surpasses Collector Crypt in revenue

A self-funded project built by two people is generating more daily revenue than one of the most successful protocols on Solana. Token Works’ Fake World Assets, an Ethereum-based NFT gacha protocol, has flipped Collector Crypt in 24-hour revenue, a development that says something interesting about where onchain attention is flowing right now. The protocol relaunched on July 20 and within four days had facilitated roughly 2,000 ETH in transaction volume across approximately 90,000 total transactions. That includes around 35,000 individual purchases. For a project with no venture capital backing, those are numbers that would make most seed-funded teams quietly close their laptops. The gacha model finds its footing onchain Fake World Assets, or FWA, works by letting users deposit ETH-backed NFTs into the protocol and pull randomized items. The pricing is dynamic, fluctuating based on the ETH backing each asset. To keep things honest, FWA uses Chainlink VRF for verifiable randomness on every pull. The protocol also runs what it calls a “loss-to-earn” mechanism. Users who deposit assets that get pulled by others are compensated through $FWA token emissions and fee distributions. From the...