Overview
- OpenSea said on Sept. 30 that all NFT Strategy tokens from TokenWorks are now tradable on its marketplace.
- To boost activity, OpenSea launched a 20 ETH rewards pool for select tokens, including PUNKSTR, PUDGYSTR, APESTR, TOADSTR and BIRBSTR.
- The strategy’s contracts buy floor NFTs when treasuries reach the floor, relist at 1.2x, and use sale proceeds to purchase and burn the associated tokens.
- TokenWorks sets a 10% swap fee on these tokens, allocating 8% to an ETH treasury, 1% to collection owners or supporters as royalties, and 1% to TokenWorks and burn mechanisms.
- Market data cited in coverage show the ecosystem above $110 million in total market cap with notable daily volumes, while OpenSea data list PUNKSTR near a $87.2 million market cap and about $1.5 million in daily trading.