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.

RarePepeDirectory.com

That includes memes like Pepe.

RarePepeDirectory.com

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

RarePepeDirectory.com

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.

RarePepeDirectory.com

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

RarePepeDirectory.com

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

RarePepeDirectory.com

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

RarePepeDirectory.com

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

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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.