TokenWorks unveils FWAir NFT launch system as FWA fees drop 98% from peak

TokenWorks plans to let artists launch new NFT collections directly into Fake World Assets through a new mechanism called FWAir, broadening the two-person team's protocol from trading existing NFTs to issuing new ones. Adam, the TokenWorks co-founder known as Rhynotic on X, said Sunday evening that the first launch is expected this week. The rollout comes as FWA tries to revive collector activity after fee income fell more than 98% from its peak following the end of token emissions two weeks ago. Under FWAir, supporters back individual NFTs in ETH at a creator-set price, and the collection enters FWA's randomized pool only if every piece is fully backed within the set period; otherwise, backers are refunded. Artists do not receive the backing ETH upfront. Instead, they are paid over time from acquisition fees generated inside the pool, meaning earnings depend on continued collector demand. FWA generated $11,069 in fees over the past 24 hours versus a peak of $1.63 million on July 25, while seven-day fees totaled $424,168 and 30-day fees reached $10.25 million, according to DefiLlama. Total value locked stood at $3.14 million, down from $5 million on Aug. 4, The Defiant reported. FWA relaunched July 20 and uses Chainlink's verifiable random function to settle randomized NFT draws. The protocol's 15-day emissions program, which distributed 30% of FWA supply, ended Aug. 4, after which activity declined. The FWA token traded at $0.0296 on Monday, up 19% over 24 hours and 24% over seven days, according to CoinGecko, with a market capitalization of about $29 million.

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