Meme cryptocurrency

Jan. 11, 2018

suphakit73/Getty Images

suphakit73/Getty Images

suphakit73/Getty Images

Counterparty, a tool that builds on blockchain technology, lets users create and trade cryptocurrency based on anything.

That includes memes like Pepe.

Pepecash, an asset issued via blockchain, is the leading digital token used to purchase cards with Rare Pepes on them.

Values of Rare Pepe cards are determined by scarcity. The cards are released in series, are only issued once and are exchanged over the bitcoin network.

There’s real money in Rare Pepes and pepecash. reported a limited "Lord Kek" card, one of 10, traded for 1,600 XCP — equal to $98,648 at press time.

Collectors can trade in bitcoin or dollars for pepecash to buy cards. Pepecash traded at 8.62 pepecash to $1 at time of writing.

For 700 pepecash, anyone can submit a Rare Pepe design for consideration — as long as it isn’t offensive.

Because of Pepe’s infamous association with the alt-right, offensive submissions are reportedly rejected.

Josh Edelson/AFP/Getty Images

Trevor Altpeter, director of the Counterparty Foundation, told Motherboard in January 2017 that the Rare Pepes are welcomed.

“The Rare Pepe phenomenon is demonstrating the features of Counterparty...

most importantly the ability to enforce digital scarcity for the first time. Its value as a test case is evident...

in the rising number of Counterparty transactions related to it, and the people building around these cards all over the world."

Rare Pepes might seem absurd, but they’re a testament to the flexibility of cryptocurrency.