PERPETUAL PRIMATES: TokenWorks’ $ApeSTR Buys 23rd Bored Ape As 5 More NFT Strategy Coins Are Set To Launch This Week!

The Bored Ape Yacht Club’s perpetual NFT buying machine keeps turning, acquiring more than 20 Bored Apes in the eight days since its launch!

TokenWorks’ NFT Strategy tokens have taken over the timeline, blurring the line between non-fungible and fungible while reigniting Web3’s interest in J-Pegs.

"NFTs are back on the menu," Seedphrase tweeted.

Tonight, eight collections (CryptoPunks, Bored Apes, Pudgy Penguins, Meebits, Moonbirds, CryptoDickButts, Squiggles, and Toadz) each have a strategy coin, with five more slated to launch over the next five days: Sunday Goblins, Monday Checks, Tuesday Max Pain, Wednesday GoodVibesClub, and Thursday Milday.

As more people take notice of these constant NFT bids, collection floors are getting gobbled up by whales and the Strat tokens themselves, and the NFT Strategy coins are seeing their market caps soar across the board with the Punk Strategy coin leading the way with an $82 million USD market cap!

 

 

Tonight, the BAYC’s NFT Strategy coin, $ApeSTR, has reached a market cap of $6.6 million USD and has accumulated 23 Bored Apes, which OpenSea estimates are worth 207 ETH or $883K and is on its way to another primate! Check out the current collection here:

 

 

As the Bored Ape Gazette previously reported, each of these perpetual buying machines runs on a smart contract and is powered by a 10% trading fee, 8% goes to the NFT accumulation pool, 1% to the collection owner as royalties, and 1% to buying and burning $PNKSTR, according to TokenWorks.

Here’s how it works, as users buy strategy tokens, the contract purchases the corresponding NFT once enough fees have accumulated. That NFT is then listed for 1.2× the floor price. When it sells, the proceeds are used to buy back and burn the token supply. No one controls these machines; they simply run in perpetuity.

 

The Gazette will continue to follow the Bored Ape’s NFT Strategy coin and keep you posted on all of TokenWorks’ other strategy token launches. Stay tuned for updates!