The NFTStrategy ecosystem of NFT-linked tokens has reached a market capitalization of $202 million and daily trading volume of $10.7 million.
PunkStrategy (PUNKSTR) leads the way with $152 million, up 37% in the past 24 hours, according to data from Dexscreener. PudgyStrategy (PUDGYSTR) followed with a 45% rise to $11.25 million. This momentum spread to other tokens, with ApeStrategy (APESTR) up 29% to $8.3 million and ToadzStrategy ($TOADSTR) up 20% to $3.7 million.
PNKSTR chart
All eight TokenWorks NFStrategy tokens were listed on OpenSea on September 30th. The launch was accompanied by a reward pool of 20 ETH distributed across the asset. ETH is currently trading at $4,411, up 2.4% on the day.
The announcement highlights the growing convergence of NFTs and decentralized finance (DeFi) as projects like TokenWorks seek innovative ways to bring liquidity, rewards, and automated strategies to the NFT market.
This comes as the broader NFT market has struggled to regain year-ago momentum and remains well below its April 2022 market capitalization peak of around $17 billion. Still, the sector has rebounded this year, with its market capitalization more than doubling from about $3 billion in April to $6.2 billion now.
According to CoinGecko, in the past 24 hours, total NFT sales reached $18.3 million worldwide, marking a 48% daily increase.
Launch of Token Works
TokenWorks introduced NFTStrategy as a “forever machine for any NFT collection,” designed to return value to NFT creators and artists while allowing anyone to activate their tokens. The team also explained that each NFStrategy token is built to support PNKSTR.
“PunkStrategy started as an art project and has become a completely new token meta,” the team wrote in a post to X. “It was inevitable that it would be forked, so we felt we needed to create a way to launch our own projects while being permissionless and safe for buyers.”
Each NFT collection can contain one NFTStrategy token, and fees from token transactions are allocated to a pool that purchases NFTs from that collection and relisted at 1.2x the purchase price. When an NFT is sold, the ETH from the sale is used to buy and write the corresponding NFStrategy token. This process continues “forever,” the researchers said.
At the moment, PNKSTR charges a 10% transaction fee, 8% is allocated to the NFT accumulation pool, 1% to TokenWorks supporters and 1% to the TokenWorks team. Meanwhile, other NFTStrategy tokens will allocate 8% for NFT purchases and 1% each for collection owners and PNKSTR purchases and writes.