Tokenworks is launching their inaugural ERC-1155-based strategy today, November 7, 2025, in collaboration with Emblem Vault. The strategy is ticker $NAKASTR, centered on the iconic “Nakamoto Card” from the Rare Pepe collection—a cultural cornerstone in crypto history with only 300 total supply and 88 currently vaulted on Ethereum.
What is $NAKASTR?
It’s a tokenized strategy that provides exposure to the Nakamoto Card NFTs via ERC-1155 tokens. This allows for fractional ownership, trading, and gamification of these high-value assets (current floor ~35 ETH or $115K per card).
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As an ERC-1155 strategy, it supports multi-token functionality, enabling efficient handling of both fungible and non-fungible elements in a single contract—ideal for illiquid, low-supply collections like this one.
Why ERC-1155?
This standard introduced in 2018 is gas-efficient for batch transactions and multi-asset management, outperforming ERC-20 or ERC-721 for complex NFT strategies. Tokenworks highlighted that future platform updates will support deploying strategies for ERC-721, ERC-1155, and even ERC-20 tokens, potentially reviving “dead bags” in memecoins and NFTs.
Cross-Chain Innovation: This is also the first cross-chain strategy from Tokenworks, bridging assets from Bitcoin Rare Pepes originated on Counterparty to Ethereum. It paves the way for strategies involving Ordinals, Solana, Base, and more—unifying liquidity across ecosystems without fragmentation.
With low liquidity only 88 vaulted cards, $NAKASTR could act as a “standing high bid,” lifting the floor price by buying at premiums (e.g., 20% above listings). Early buzz suggests it might durably boost Rare Pepe values, especially for reluctant sellers.
This launch builds on Tokenworks’ prior success with $PNKSTR and signals a broader push into “onchain financialized ideas.” The full platform rollout in the coming days could flood the market with custom strategies—watch for volatility in low-supply NFTs like Rare Pepes.
The Rare Pepe story begins with Pepe the Frog, a laid-back anthropomorphic frog created by artist Matt Furie in 2005. Pepe first appeared in Furie’s self-published comic series Boy’s Club, where he famously uttered the line “Feels good man” while urinating with his pants down—a moment that would later become a cornerstone of meme culture.
Furie intended Pepe as a symbol of simple, ironic humor, but the character’s minimalist expressiveness capable of conveying sadness, smugness, joy, or irony quickly resonated online. By 2008, Pepe had migrated to platforms like MySpace and 4chan, evolving into a standalone meme.
On 4chan’s /r9k/ board, users began creating variations—photoshops, drawings, and edits—that captured raw emotions under phrases like “Feels Bad Man” or “Feels Good Man.”
Celebrities like Katy Perry and Nicki Minaj amplified its reach in 2014, but this mainstreaming sparked backlash from 4chan purists, who started watermarking “rare” variants with “DO NOT SAVE” to preserve scarcity.
By late 2014, these were traded like digital baseball cards in an ironic “meme economy,” with users even attempting to “flood the market” by dumping collections on Imgur in April 2015.
Blockchain Meets Meme Culture (2016): The pivotal shift came in 2016, when Rare Pepes transitioned from ephemeral forum posts to blockchain-secured assets. Built on Counterparty, a Bitcoin layer-2 protocol launched in 2014, the project tokenized Pepe variants as non-fungible collectibles—predating Ethereum’s CryptoPunks by months and the NFT boom by years.
Counterparty used “burned” BTC (permanently removed from circulation) to mint assets, enabling a peer-to-peer marketplace without centralized control.September 9, 2016: The Genesis Mint. Community member “Mike” uploaded the first card, RAREPEPE (aka the “Nakamoto Card”), in Bitcoin block 428919.
With a supply of just 300, it honors Bitcoin’s pseudonymous creator, Satoshi Nakamoto, and kicked off the Rare Pepe Directory—a submission-based platform where “Meme Scientists” (judges) curated designs.
A Telegram group formed soon after to discuss these “on-chain collectible assets.” Over 2016–2018, the project released 1,774 unique cards across 36 series, each with varying rarity (e.g., 1-of-1s to editions of millions).
Artists worldwide contributed, blending humor, pop culture, and crypto lore—e.g., HOMERPEPE (Homer Simpson fused with Pepe) or KEISERPEPE (featuring Bitcoin advocate Max Keiser). The directory stopped accepting new cards in 2018 due to high Bitcoin fees, but the ecosystem persisted.
This democratized crypto art: No technical barriers meant hundreds of creators onboarded, minting “dank” (high-quality) Pepes that documented blockchain personalities and meme evolution. Early tools like KEKDAQ (a Counterparty NFT marketplace) emerged, foreshadowing platforms like OpenSea.
Pepe’s versatility made him a double-edged sword. In 2015–2016, amid Donald Trump’s campaign, alt-right groups on 4chan and 8chan co-opted Pepe for white nationalist memes (e.g., Pepe in Nazi attire), leading the Anti-Defamation League to label him a hate symbol in 2016.
Furie publicly disavowed this in a 2017 Time op-ed, “killing” Pepe in a comic to reclaim him—only for the character to “resurrect” via fan support.The Rare Pepe community, including the Rare Pepe Foundation, distanced itself, emphasizing apolitical, artistic roots.
Furie’s 2015 #SavePepe campaign with the ADL succeeded in broadening Pepe’s image globally (e.g., as “sad frog” in Hong Kong protests). The 2020 documentary Feels Good Man chronicles this turbulent arc, highlighting Pepe’s resilience as a “totem of the people.”
Today, with floors from $0.11 common editions to six figures for grails like the Nakamoto Card ~$157K recent sale, Rare Pepes symbolize irreverent innovation. Communities like pepe.wtf track sales, while projects like Tokenworks’ $NAKASTR tokenize them for fractional access.