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TokenWorks is the team behind the protocol + platform combos PunkStrategy, NFTStrategy, and next up ... TokenStrategy.
The "Strategy" approach started in September 2025 by automating buys and sells of floor ERC-721 NFTs like CryptoPunks, Bored Apes, and 
Pudgy Penguins via trading fees.
It’s a flywheel. Each fungible swap token (e.g., PNKSTR, APESTR, PUDGYSTR) feeds back into its parent collection by accumulating trading fees that 1) create continuous buy pressure on the underlying NFTs, and 2) buy-and-burn the swap tokens whenever a relisted NFT is sold through the protocol.
This design gives speculators a structural incentive to keep the wheel turning. And notably, TokenWorks has been expanding this design outwards recently. For example:
- In October, the team unveiled their first ERC-20 fungible token strategy for REKT, the official coin of the Rektguy NFT community.
- Then in November, the team deployed its first ERC-1155 strategy for "Nakamoto Card" Rare Pepes that are vaulted on the multichain NFT wrapper platform Emblem Vault.
This support expansion from just ERC-721 NFTs to ERC-20s and ERC-1155s too has set the stage for TokenWorks' next infra release, TokenStrategy.
It's no mystery this platform is coming, either. TokenWorks has been saying since September that it plans to open up permissionless strategy deployments to "anyone for a fee."
What's different today compared to then is TokenStrategy will support all tokenized assets in the 
Ethereum ecosystem, not just ERC-721 NFTs. Wherever there's onchain culture, and whether communities' main assets are fungible or non-fungible, simple DIY strategy deployments will soon be available.
For now, we can only imagine what this platform will look like. But we can safely infer that it will generalize the approaches that PunkStrategy and NFTStrategy have popularized, like trading fee splits, 1.2x relisting premiums, buy-and-burns, etc.
And while no release date has been announced yet, TokenWorks recently confirmed that TokenStrategy's backend + frontend code was "nearly ready" and that users could expect "new categories" and "new chains" upon the public launch.
In the meantime, the builders have new optimizations in place, and strategy tokens are being integrated in a growing range of platforms like DefiLlama, OpenSea, and Relay.
All that said, there are a number of things we can reasonably expect here:
- An incoming boom of permissionless strategy token launches across many onchain communities.
- Old collections with low trading volume rebooting attention via strategy launches.
- More projects deeply integrating strategy tokens into their community life, as we've already seen from projects like Chimpers, Goblintown, and Good Vibes Club.
- “Meta collections” whose main product is their ecosystem of strategies offerings, not dissimilar to how Flaunch Groups work.
Ultimately, we'll have to wait and see how things pan out with the TokenStrategy release, but it's certainly a development you'll want to have on your radar in the coming weeks.
What’s clear already, though, is that these strategy tokens are an emerging layer where communities can experiment with new forms of incentives, liquidity, and speculation.
And while the model might seem strange at first, it's not unprecedented in the grand scheme of things. As OSF, the creator of the Rektguy collection, recently put it:
"People think the idea of a 'coin of a coin' is dumb…and maybe it is…but derivative products have existed in tradfi for many years…I spent a decade trading them."
In other words?
Welcome to the age of onchain, always-on cultural derivatives.
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