Fake World Assets Surges Past Aave and Uniswap with Record Daily Revenue

On July 20, Token Works' on-chain random NFT acquisition protocol, Fake World Assets, relaunched and quickly gained traction on Ethereum. In just four days, it surpassed Collector Crypt on Solana in daily income, according to DefiLlama data. The peak daily income reached $447,604 on July 25, with total fees of $1.6 million and approximately 90,000 transactions occurring during these four days.

The protocol allows depositors to list NFTs together with their pledged ETH as collateral, providing an irrevocable, continuous bid to re-acquire the NFT. Anyone can pay the acquisition price generated by the liquidity pool to obtain a randomly selected NFT.

In its first four days, Fake World Assets accumulated over 1,500 NFTs in the pool, including CryptoPunks, with randomness provided by Chainlink VRF. However, activity declined afterward, and daily fees fell by about half from the peak.