PERPETUALLY APE-ISH: TokenWorks’ NFT Buying Machines Went Live And ApeStrategy Has Already Purchased 13 Primates!

The perpetual NFT buy machines started spinning across the space this afternoon, and they’ve already turned into million dollar assets while scooping up insane collections across Web3!

From the swamp to the Igloo and beyond, Friday was anything but boring after TokenWorks and its Founder Rhynotic officially launched its fully onchain and autonomous “NFTStrategy” tokens for Bored Apes, Pudgy Penguins, Moonbirds, Meebits, and CryptoDickButts.

 

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.

“An automatic mechanism designed to accumulate NFTs, sell them for profits and burn the Perpetual Machine supply,” TokenWorks wrote on its website. “Decentralized and Forever.”

 

Tonight, the BAYC’s ApeStrategy token mooned from a $50,000 market cap at launch this afternoon to $2.6 million, according to DexScreener.

 

In that time, the buying machine has purchased 13 Bored Apes and is already on its way to another, per OpenSea and TokenWorks data.

Take a look at the ApeStrategy’s primates below:

 

 

Following the launch, TokenWorks founder Rhynotic took to the timeline to thank his supporters and emphasize that these tokens are long term strategies!

 

“Lot of threadooors and dunkers today,” he tweeted. “Thanks to everyone who helped get it out and over the finish line and put out fires These are long term tokens with healthy communities that want them to succeed. Onward.”

 

 

To check out ApeStrategy or TokenWorks’ other NFTStrategy coins, visit: https://www.nftstrategy.fun

 

The Bored Ape Gazette will continue to follow these Strategy tokens and will let you know how they impact the NFT market going forward. Stay tuned for updates!