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A self-funded project built by two people is generating more daily revenue than one of the most successful protocols on Solana. Token Works’ Fake World Assets, an Ethereum-based NFT gacha protocol, has flipped Collector Crypt in 24-hour revenue, a development that says something interesting about where onchain attention is flowing right now.
The protocol relaunched on July 20 and within four days had facilitated roughly 2,000 ETH in transaction volume across approximately 90,000 total transactions. That includes around 35,000 individual purchases. For a project with no venture capital backing, those are numbers that would make most seed-funded teams quietly close their laptops.
The gacha model finds its footing onchain
Fake World Assets, or FWA, works by letting users deposit ETH-backed NFTs into the protocol and pull randomized items. The pricing is dynamic, fluctuating based on the ETH backing each asset. To keep things honest, FWA uses Chainlink VRF for verifiable randomness on every pull.
The protocol also runs what it calls a “loss-to-earn” mechanism. Users who deposit assets that get pulled by others are compensated through $FWA token emissions and fee distributions. From the initial phase through August 4, $FWA emissions are set at 1% of total supply daily, split between purchasers and depositors.
Token Works is the brainchild of a duo, Adam (known as @Rhynotic) and Teto (@tetonotsorry). No team of 40. No Series A.
How Collector Crypt stacks up
Collector Crypt, the Solana-based protocol that FWA just overtook in daily revenue, had achieved a record weekly trading volume of $127 million around June 2026 and crossed $50 million in cumulative protocol revenue by mid-June.
The fact that an Ethereum-based protocol is outpacing a Solana-based competitor on daily revenue is noteworthy given the fee dynamics. Ethereum transactions cost more, which means users are paying a premium to participate. That level of willingness to spend suggests genuine demand rather than bot-driven volume farming.
Why this matters for Ethereum and the broader NFT market
The gacha model solves a problem that has plagued NFTs since inception. Traditional NFT trading is a peer-to-peer market with thin liquidity and wide spreads. Gacha introduces a protocol-mediated transaction layer where the platform itself acts as the counterparty, creating consistent volume and revenue regardless of secondary market conditions.
The risk factors are worth noting. Token emission schedules at 1% of supply daily are aggressive. The “loss-to-earn” mechanic could create a death spiral if deposit volume drops and emissions outpace new ETH entering the system. Two-person teams also carry obvious key-person risk, though the fully onchain nature of the protocol mitigates some of that concern.
What happens after August 4, when the initial emission phase ends, will tell us whether this is a structural shift in NFT engagement or a well-executed launch that peaks early.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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