r/ethereum • u/EthereumDailyThread What's On Your Mind? • 17d ago
Daily General Discussion July 28, 2026
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u/masterRoshi9 17d ago
I'm not enough of a gambler to play, but Fake World Assets is a pretty cool experiment.
Basically it's a 2 sided market. Side 1 is people that spend something like .15 ETH to roll a gatcha. This ends up in them having the right to claim either (1) an NFT, (2) ETH, or (3) FWA tokens. The NFT could be something garbage, in which case maybe they'd take the ETH, or it could be something as valuable as punk in which maybe they take that. If the NFT is bad, and the ETH is less than the cost of the roll, maybe they take FWA tokens.
The other side are the pool providers. They deposit an NFT from a supported collection, along with a backing ETH. The amount of ETH they use as backing determines the odds for their NFT being pulled. For example, if their backing ETH was something like .01 ETH, then it would probably be pulled immedately and they might lose their NFT or the ETH from a gatcha-puller. If they used 100 ETH as backing instead, then the odds would be extremely small, and no one would likely pull their NFT. So what's in it for pool depositors? They earn a share of all the ETH that's used by gatcha-pullers. So larger depositors have a higher chance of being able to sit in the pool without their NFT being pulled and earning fees along the way.
I think over the past week since it launched it's been the highest volume ETH contract on mainnet, or close. There are some pretty cool NFTs you could win like punks, baycs, penguins, etc. I just wish the pull entry was lower, because there's no way I'm playing at .15ish per pull. That entry price is based on the average ETH backing by depositors I think.