Chapter 1: Unveiling Rare Pepe NFTs

Rare Pepe NFTs represent a unique segment of the digital collectible space, boasting a dedicated following and an intriguing backstory.

To be honest, my presence on Twitter has been quite lacking. When I began my journey into the NFT blogging world, I had no idea how crucial Twitter was to this community. I often find myself regretting not engaging with the platform sooner, especially considering how much richer my understanding could have been had I immersed myself in Twitter discussions back in early 2021.

Yet, we can’t alter the past, right? Over the years, I’ve stumbled across various references to Rare Pepes, but I didn’t fully grasp their significance until recently. Notably, there was a buzz surrounding one of the founders of Bored Ape, GordonGoner, who purchased a Rare Pepe grail for 58 ETH. The specific card can be seen below:

You can check out the transaction details for the 58 ETH purchase here.

One aspect that puzzled me was the overall structure and history of these NFTs. For instance, visiting the OpenSea page dedicated to Rare Pepes can be quite bewildering:

The total trading volume appears surprisingly low, and a floor price of 0.0125 ETH raises questions in light of that 58 ETH sale. To gain clarity, I began reaching out on Twitter. As someone not well-known on the platform, I realized that posing a standalone question wouldn’t garner much attention. Instead, I sought out existing discussions on the subject and posed my questions there.

Fortunately, this approach yielded valuable insights. I learned that the low floor price is due to the varying “issuances” among the cards—some being unique 1/1 NFTs while others may have millions of copies in circulation. Therefore, a unique card can command a high price, while a card with a vast supply could be much cheaper.

There are several other elements of Rare Pepes that remain somewhat confusing. For instance, (1) they are not exclusively ETH-based, (2) they involve over 300 different artists, (3) submissions are overseen by a council of “Rare Pepe Scientists” who curate the collection, and (4) they utilize cross-chain technology powered by Emblem Vault. Each of these points could warrant a separate discussion, so I encourage those curious to explore further.

A Twitter user known as “Rarepepe Collectors” explained that the value of a Rare Pepe card is determined by the following criteria:

1. Age: Older cards tend to hold more value, much like in other NFT collecting communities.
2. Rarity: This reflects the total number of copies—some NFTs are 1/1, while others can have thousands in circulation.
3. Dankness: This likely relates to the appeal and popularity of the meme or concept behind the NFT. Although I never envisioned myself defining “dank,” the term has gained traction in meme culture, as explained well by the Urban Dictionary.

Intrigued by Rare Pepe NFTs, I found that the filters available on OpenSea offer fascinating opportunities for exploration:

For instance, if you’re interested in Rare Pepes from the first ten series with a total supply of 100, you can easily refine your search to uncover potential bargains:

That said, determining the “dankness” of the NFTs is ultimately up to you. It would be beneficial if there were a more robust exploration tool (and perhaps there is) that allows for setting specific supply ranges, such as limiting to issuances of 100 or less. If anyone knows of such a resource, I’d love to hear about it.

The website rarepepes.com offers a similar tool, which seems worth exploring further. In any case, this serves as a basic—perhaps overly simplified—overview of the Rare Pepe NFT collection. I’m eager to delve deeper into this subject as time permits.

Jim Dee is a prolific writer, developer, and multimedia creator based in Portland. You can find more about him, his ventures, and his publications at JPD3.com. Thank you for reading!

Chapter 2: Understanding the Value of Rare Pepes

The first video, "The RarePepe NFT Project...Explained," dives into the origins and significance of Rare Pepe NFTs, unraveling their unique appeal.

The second video, "Buying the Most Important NFT of All Time," explores the broader implications of the NFT market, highlighting key moments and transactions.