Bankless
FWA and the New Market Structure for NFTs | Adam (Rhynotic) and Eric Conner
- Fake World Assets (FWA) is an Ethereum protocol that lets users deposit NFTs backed by ETH into a liquidity pool, then randomly purchase NFTs from the pool—returning unsold assets for 90% of their ETH backing.
- The protocol addresses severe NFT liquidity drought by providing a universal buyer and consistent exit mechanism for illiquid collections that have no bids on OpenSea.
- FWA replicates the "gacha" or collectible card pack experience, where random pulls and the possibility of rare items create engaging consumer behavior and dopamine-driven repeat participation.
- FWARE is a new NFT launch mechanism where artists don't need to post ETH; instead, community backers stake ETH alongside NFTs, earn fees while the collection sits in the pool, and artists receive payouts through accumulated protocol fees.
- The FWA token has no buy option at launch—only earned through protocol participation—aligning early holders with actual users rather than speculators or snipers.
- Future roadmap includes custom pools (single-collection or themed pools), multi-chain deployment via Layer Zero, integration of real-world assets (Pokemon cards, watches, property deeds), and permitting FWA token holders to vote on which collections join the main pool.