PERPETUALLY PUNK-ISH: Rhynotic's TokenWorks PunkStrategy Takes Over The Timeline And Could Be Coming To Apes And Other NFTs Soon!
- Kyle
- Sep 14
- 2 min read
NFTs, tokens, and a “PunkStrategy” are the talk of the timeline today as Brooklyn based Web3 developer Rhynotic’s Perpetual Punk Machine by TokenWorks moons, and the concept could soon be coming to even more projects!
On Sunday, the fully onchain and autonomous “PunkStrategy” token took over the timeline after accumulating four CryptoPunks and reaching a market cap of over $20 million, Just eight days after deploying on Ethereum!
The Perpetual Punk Machine runs on a 10% tax every time someone buys or sells the PunkStrategy token. Once the smart contract has collected enough fees, it purchases a floor Punk and lists it for 1.2x the price. When the Punk sells, the proceeds are used to buy back and burn PunkStrategy tokens. No one controls the Perpetual Punk Machine, it simply runs perpetually.
At the time of this article’s publication, PunkStrategy holds four CryptoPunks.
In the eight days since its launch, PunkStrategy has captured the attention of some of Web3’s biggest names, including Kix, Eli Scheinman, and longtime CryptoPunk holders.
“Punkstrategy, a brilliant creation by @Rhynotic,” CryptoPunk MP9X tweeted. “Few people are talking about it yet, but I believe it’s one of the most crazy and revolutionary things in recent times. The entire punks community should support the initiative. A simple mechanism for buying and selling Punks while burning token supply, forever.”
As the Perpetual Punk Machine kept running, Web3 influencer Cirrus asked when this PunkStrategy model might be applied to other collections like Apes or Pudgy Penguins. Rhynotic’s replied “Soon.”
For more information on the Perpetual Punk Machine and PunkStrategy, be sure to follow the project, @token_works, on X. You can also check out the project’s token here: https://dexscreener.com/ethereum/0xbdb0f9c31367485f85e691f638345f3de673a78effaff71ce34bc7ff1d54fddc
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