Rare Pepe

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Rare Pepes are Crypto art NFTs minted on the Bitcoin blockchain between 2016 and 2018 and catalogued in a web directory called the Rare Pepe Directory. Rare Pepes were originally bought and sold in a web application called the Rare Pepe Wallet.


Beginning in 2008, users of both the Reddit and 4chan|4Chan Internet forum|message boards began to post memes that were derivative works of the character Pepe the Frog from Matt Furie's Boy's Club comic book.[1]. Many of the initial versions of this meme are documented on Know Your Meme. In 2015 a subset of Pepe memes began to be referred to as "rare pepes" generally meaning that the artist had not yet posted the meme publicly.[2] In April 2015, a collection of rare pepe images were listed on eBay where it reached a price of $99,166 before being removed from the site[3]

The First Crypto art|Crypto Art Market

In September 2016 the very first Rare Pepes were minted and sent to users in the Telegram (software)|Telegram chat dedicated to discussing Counterparty.[4][5] More soon followed and this spurred developers to build platforms for the purpose of cataloging and exchanging these unique images, thereby creating the first Crypto art|Crypto Art market in 2016[6]. Two components of this market, created simultaneously, both support each other to enable interaction and asset exchange among both contributors and market participants. Crypto artists used these resources to publish their work as digital tokens with a fixed circulation[7] and then issued the art to collectors who then sold, traded, or stored their collections.

Rare Pepe Wallet

This web-based encrypted wallet was developed to allow users to buy, sell, and store Rare Pepes using a medium of exchange called Pepe Cash[8]. The backbone of the Rare Pepe Wallet is the Counterparty (platform)which is built upon the bitcoin network.


  1. "The Rise and Fall of Pepe the Frog as an Internet Meme". MUO. 2020-12-12. Retrieved 2021-10-14.
  2. "The story behind 4chan's Pepe the Frog meme". The Daily Dot. 2015-04-12. Retrieved 2021-10-14.
  3. "Pepe the Frog". Know Your Meme. Retrieved 2021-10-13.
  4. "Rare Pepe Wallet & The Birth of CryptoArt". Artnome. Retrieved 2021-10-14.
  5. "What Is CryptoArt?". Artnome. Retrieved 2021-10-14.
  6. Ostroff, Caitlin (2021-05-08). "The NFT Origin Story, Starring Digital Cats". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-08-12.
  7. "Meme Collectors Are Using the Blockchain to Keep Rare Pepes Rare". www.vice.com. Retrieved 2021-08-12.
  8. "The Rare Pepe economy is real, and there's serious money behind it". The Daily Dot. 2017-02-21. Retrieved 2021-08-12.

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