Over the course of 2017, there’s been a lot of blockchain projects, and the Initial Coin Offering (ICO) craze has been off the charts. One thing is for sure: a great majority of these ERC-20 tokens and some of the aspiring distributed ledger efforts have produced very little value, minus the gains and losses captured from speculative markets. However, there is one blockchain project created a year ago that has created a robust ecosystem based on a popular internet meme — Pepe the Frog.
Preserving the Rareness of Pepe the Frog
It’s been over a year since the Rare Pepe blockchain trading card economy was created bringing the dankest, most rarest pepes to the cryptocurrency environment. News.Bitcoin.com reported on the launch of the first few series of Rare Pepe cards traded as counterparty (XCP) assets over the bitcoin blockchain.
Rare Pepe cards are basically assets designed utilizing the Counterparty blockchain similarly to the popular card game Spells of Genesis. Counterparty assets are held within the Bitcoin blockchain inside traditional BTC transactions. These tokens or assets are different than the technology used in Colored Coins, as they are not tethered to a specific BTC address or balance. This allows people to transfer bitcoin without affecting underlying assets like Rare Pepes. In addition to the technology behind these collectible cards, pepes are traded on the decentralized Counterparty-based exchange called DEx. Utilizing the DEx exchange, users can purchase and exchange extremely rare pepes in XCP-denominations. Pepes can also be collected using the Rare Pepe Wallet which supports XCP, BTC, Pepecash, and gift cards.
Due to the frog’s extreme popularity, the Rare Pepe blockchain scene has a robust community, foundation, a wallet, and a trading card directory. Since then the community has grown significantly, and certain cards have been exchanged for thousands of dollars this year. As far as laughter and immutable Pepes that are always available on the blockchain go, this grassroots community has produced far more value than most ICOs in 2017…