Crypto
Fake World Assets Down 21.8% From All-Time High
Fake World Assets (FWA) is an Ethereum-based protocol for randomized NFT acquisition. The platform allows users to deposit NFTs and ETH into a pool, which affects each position's selection weight and funds a pre-funded bid to buy the NFT back.
Purchasers pay a protocol-derived acquisition price and receive one randomly selected NFT position. The randomness is provided through Chainlink VRF. After allocation, a purchaser can keep the NFT or sell it back to the original depositor for most of the ETH backing.
The FWA token is used to reward depositors and purchasers, while protocol fees are routed into an FWA buyback reserve. The current configuration also accounts for NFT custody and ETH backing separately from the token.