TokenWorks has announced the launch of NFTStrategy, a novel initiative introducing tokens designed to perpetually purchase NFTs from prominent collections, including Bored Ape Yacht Club (BAYC), Pudgy Penguins, Moonbirds, Meebits, and CryptoDickButts.
According to posts on X, the Day 1 tokens—$APESTR (BAYC), $PUDGYSTR (Pudgy Penguins), $BIRBSTR (Moonbirds), $MEEBSTR (Meebits), and $DICKSTR (CryptoDickButts)—aim to capitalize on the buzz generated by TokenWorks’ previous project, $PNKSTR. The NFTStrategy tokens are intended to continuously acquire NFTs from these collections, potentially impacting their market dynamics.
Bored Ape Yacht Club (BAYC): Created by Yuga Labs, BAYC remains a flagship NFT collection with a market cap of approximately $405.6 million. Despite a recent 14.7% floor price drop to 9.59 ETH, BAYC continues to dominate the NFT space. Yuga Labs has shifted focus back to BAYC after selling the intellectual property (IP) of CryptoPunks and Meebits, while Moonbirds characters will still appear in Yuga’s Otherside game.
Pudgy Penguins: With a market cap of $399.1 million and a token ($PENGU) market cap of $2 billion, Pudgy Penguins is a leading NFT project. Its floor price recently fell 17.3% to 10.32 ETH, but trading volume remains robust at 2,112 ETH (~$9.36 million) in a week. The project has expanded into physical merchandise and the Pudgy Party game, which saw over 50,000 downloads despite a 20% $PENGU token price drop in August.
Register for Tekedia Mini-MBA edition 19 (Feb 9 – May 2, 2026): big discounts for early bird.
Tekedia AI in Business Masterclass opens registrations.
Join Tekedia Capital Syndicate and co-invest in great global startups.
Register for Tekedia AI Lab: From Technical Design to Deployment (next edition begins Jan 24 2026).
Moonbirds: Launched in April 2022 by PROOF Collective, Moonbirds generated $280 million in initial sales. Yuga Labs acquired Moonbirds in 2024 but sold its IP to Orange Cap Games in May 2025. The collection’s floor price dropped 10.5% recently, with a trading volume of 1,979 ETH (~$8.77 million).
Meebits: Originally created by Larva Labs and acquired by Yuga Labs in 2022, the Meebits IP was sold to The Meebit Company in February 2025. The collection of 20,000 3D voxel characters has seen significant trading, with historical sales around $227 million.
CryptoDickButts: While less detailed in recent news, CryptoDickButts is included in TokenWorks’ strategy, indicating its relevance in the NFT space. Its inclusion alongside blue-chip collections suggests a niche but active community.
The NFTStrategy tokens could drive demand for these NFT collections by continuously purchasing them, potentially increasing floor prices and trading volumes. However, the broader NFT market has faced challenges, with recent double-digit floor price declines across major collections tied to Ethereum’s price correction.
The perpetual buying mechanism of tokens like $APESTR, $PUDGYSTR, $BIRBSTR, $MEEBSTR, and $DICKSTR could create consistent demand for the targeted NFT collections. This may stabilize or increase floor prices, especially for collections like BAYC and Pudgy Penguins, which have recently seen floor price declines of 14.7% and 17.3%, respectively.
Continuous buying could attract speculators, driving short-term price spikes. However, if the buying mechanism is not sustainable (e.g., due to limited token liquidity or funding), it could lead to artificial inflation followed by sharp corrections, harming investors.
The speculative nature of NFTs, combined with a novel token-buying mechanism, may lead to unsustainable hype. If the strategy fails to deliver consistent value, it could erode trust in TokenWorks and the broader NFT market, which is already grappling with volatility tied to Ethereum’s price corrections.
Perpetual buying could enhance liquidity for the targeted collections, making them more attractive to traders. For instance, Moonbirds and Meebits, recently transitioned to new IP owners, may see renewed interest. The focus on specific collections could divert attention and capital from other NFTs.
TokenWorks’ strategy may appeal to investors seeking exposure to blue-chip NFTs without directly purchasing them. The tokens could offer a novel investment vehicle, though their value will likely depend on the underlying NFTs’ performance and the strategy’s execution.
The NFT market’s volatility, coupled with the untested nature of perpetual buying tokens, poses significant risks. Investors could face losses if the tokens fail to maintain value or if the NFT market continues its downward trend (e.g., recent double-digit floor price drops).
Perpetual buying mechanisms could attract attention from regulators, especially if perceived as manipulative or speculative schemes. The SEC and other bodies have increasingly focused on NFTs and token-based projects, which could lead to compliance challenges for TokenWorks.
The perpetual buying model requires significant capital. If TokenWorks relies on token sales or external funding, any shortfall could disrupt the strategy, impacting token holders and NFT prices. The strategy’s success is tied to the broader NFT market’s health.
The success of NFTStrategy may depend on market sentiment, the sustainability of perpetual buying mechanisms, and TokenWorks’ execution. Posts on X suggest excitement around the initiative, but skepticism about speculative NFT investments persists.