🏴 Fake World Assets

Summary

becks,This week I pulled a CrypToadz out of an onchain vending machine for about 0.05 ETH, then traded it for a token you can't buy right now.

That sentence will make sense in a few minutes, as today's issue is a beginner's guide to Fake World Assets, the gacha protocol currently dominating Ethereum's timeline.

Real world assets, or RWAs [ have been the big onchain sensation this year, as billions of dollars have started flowing through tokenized stocks, tokenized treasuries, tokenized gold, etc.

Yet there are cultural RWAs, too, like tokenized Pokémon cards, lifted up by the rising tide of gacha platforms like Collector Crypt, Phygitals, and Monster where users can pay to randomly pull choice cards (which are vaulted IRL but represented by NFTs onchain).

TokenWorks [ a self-funded duo (h/t Adam [ and Teto [ has built some of the most creative NFT projects in recent years like PunkStrategy [ Ten Thousand Tokens [ and FundingWorks [ Their latest experiment is Fake World Assets [ which is a rather elegantly designed onchain NFT gacha protocol.

It might sound silly at first, as Ethereum NFTs have been declared dead 1000s of times already, so how cool can this new project possibly be? Very cool, at least if the early traction here is any indication.