The rare Pepe NFTs aren’t the most popular digital art collectible, but they do have an interesting history. Read on to learn what the rare Pepe NFTs are, why they’re relevant in bitcoin culture, and whether or not you should consider collecting them.
What is Rare Pepe?
Rare Pepe is a subset of “Pepe the Frog”, which first appeared in the 2005 comic by Mark Fury, “Boys Club”.
Pepe the Frog is a green anthropomorphic cartoon character with a human body. The cartoon character became an Internet meme in 2008 due to its popularity on the social networks Gaia Online, MySpace and 4chan.
In 2015, Pepe the Frog memes began to be used with hateful intentions by the alt-right movement and white supremacists as Donald Trump announced his bid for the presidency.
Next year, Fury partnership with the Anti-Defamation League in a social media campaign using #SavePepe to reclaim the symbol from those who were using it to spread prejudice.
In 2014, a variation of Rare Pepes called Pepe the Frog Memes emerged on the 4chan board. They were being shared like trading cards, and some had watermarks that said: “Rare Pepe Don’t Save.” This meant that the artist had not published the image for public use. In April of the following year, a collection of 1,200 Rare Peeps was listed on eBay. They reached a high of $99,166 before correcting lower. More rare Pepe memes were listed on eBay and Craigslist.
Rare Paype Card on Counterparty: Original NFT (before it was called NFT)
Thanks to their popularity, it probably comes as no surprise that Pepe the Frog and Rare Pepes made their way into the crypto space. They appeared on Counterparty – an open-source protocol built on top of bitcoin – as non-fungible tokens (nft) in 2016. This was before the existence of Ethereum NFTs. At that time, the term NFT was not yet in use.
The launch of the Rare Pepe NFT was inspired by the famous chants of the Genesis SatoshiCard in 2015. The first rare Pepe NFT was mined on block 428,919 of bitcoin.
The rare images of Pepe on the counterparty looked like trading cards and were made in limited quantities. Through the Rare Pepe Wallet, users can buy, sell and store their Rare Pepe NFT cards. Users traded these NFTs using a Liquid Cash card called PayCash.
In addition, collectors can submit their rare Pepe images to Rare Pepe. directory, This was a list of all known rare papyrus. The guidelines for submission were strict. they read:
“Submissions must be original. Our rarity quality team checks the rarity of each Pepe. (No plagiarism!) Our experts understand that a lot of Pepes borrow from each other to a degree, but use as original material as possible.” Try adding. Also, make sure your pepe is moist. Check out the latest submissions on the directory to compare.
The deposit cost about $13 worth of Paycash at the time. The Rare Pepe Foundation removed any objectionable Rare Pepes that were submitted before they appeared in the directory.
As the NFT Community Grows, Fury Launches Its Own NFT Project pegs, PegzDAO sells NFTs according to its signature style. In collaboration with Pegz, the NFT marketplace, in October 2021 chain saw, auction A rare Pepe NFT card called Feelsgoodman. This rare Pepe wallet was one of 500 tokens originally created in 2016 by creator Joe Looney. FeelsGoodman aims to bring peace between the Bitcoin and Ethereum communities. Of the 500 tokens, 400 were burned and one was auctioned. The proceeds of the auction and the remaining 99 NFTs went to PegzDAO.
How much have the rare Pepe NFTs sold for?
A live auction held in New York City (NYC) in January 2018, a Homer Simpson rare Pepe collectible – at the time, they were simply known as collectibles or crypto-collectibles – sold for $39,000. It was the first digital art auction in history. Many people criticized online shopper Peter Kell for making such an expensive purchase on something he found to be worthless. However, three years later, Kell sold it to Homer Pepe for $312,000.
In addition to Kel’s NFTs, the 2021 NFT craze saw a surprisingly large amount of other rare Pepe NFTs sold. Some collectors have used a software protocol called Emblem Vault to reconfigure rare Pepe digital cards so that they can also run on the Ethereum blockchain. He then listed the “wrapped” rare Peps on the NFT marketplace. open seaWhere some sold for a lot of money.
For example, a rare Pepe modeled around bitcoin founder Satoshi Nakamoto went for $149.99 ETH, which was roughly $500,000 at the time. Another copy of the same rare Pepe NFT sold for slightly less at 111.1 ETH.
However, not all Rare Pepe NFT trades have ended well. Buyer of Fury’s Feelsgoodman NFT sued on Fury in March 2022 for over $500,000 on the grounds that the NFT was not rare enough. The buyer who won the auction mentioned earlier in this article paid 150 ETH for the NFT, which was worth over $500,000 at the time. According to the filing of the lawsuit,
“Thayer believed it would own the only FEELSGOODMAN CARD NFT in circulation, with the other 99 locked up in the DAO.”
However, the remaining NFTs were being distributed to PegzDAO members for free, diluting the value of Thayer’s NFTs.
Are rare Pepe NFTs worth collecting?
Rare Pepe NFTs are not as popular as Bored Apps or Crypto Punk. For this reason, these NFTs generally do not sell as much and as high as these two higher ranking NFT collectibles.
Looking at the current OpenSea listing, rare Pepe NFTs (on Ethereum) are bidding or sold for less than 1 ETH. So, if you want to collect these NFTs with the goal of cashing out big, your chances may be slim unless you have an extremely rare 1/1 card. Still, if your goal isn’t financial gain and you love rare Pepe NFTs, you can still collect them for their value as art.
In addition to the rare Ethereum-based Pepe NFTs, you can also purchase items from the original collection that are still counterparty Protocol on a handful of rare Pepe markets.
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