Rare Pepe turned 6 years old this Friday since their creation on the Bitcoin network. They are the first NFT tokens created in the history of Blockchain.
La history of NFTs It started on the Bitcoin blockchain. Although many consider that these digital assets were born on Ethereum, with projects such as CryptoKitties and CryptoPunks, the truth is that it was Bitcoin that gave life to the first non-fungible tokens in the industry.
It all started with colored coins, a type of coin that served to represent other currencies or assets of interest as tokens on the blockchain. Colored Coins gave rise to representations of “Pepe the Frog,” one of the most popular Internet memes created by Matt Furie, on the Bitcoin network using the Counterparty platform.
The depictions of the green anthropomorphic frog, which displays a humanoid body, on the Bitcoin chain were dubbed “Rare Pepe” and constitute the first NFT collection in history.
Source: Rare Pepe Directory
Rare Pepe: Bitcoin vs Ethereum
Rare Pepe are a collection of 36 series of NFTs considered “really rare” on the Bitcoin blockchain. However, projects like Emblem Vault have served as bridges to bring these Bitcoin NFTs to Ethereum-based non-fungible token markets.
The most popular on the market
Currently, the most valued Rare Pepe today, to name a few, are “Pepe Satoshi”, inspired by Dorian Satoshi Nakamoto, “MRTALPHA"And"Pepeimposer”, which are offered for 1.000 ETH, 555 ETH, and 420 ETH, respectively, on Bitcoin-secured marketplaces such as Scarce City and Ethereum-based ones such as Rarible and LooksRare.
In 2018, “Homer Pepe”, inspired by Homer, one of the main characters of the animated series The Simpsons, was sold for almost $40.000, using the cryptoactive pepe cash, created to trade rare pepes. Earlier this year, “Nakamoto Card” sold for over $260.000 on Opensea.
Over $3,6 million for “Pepenopoulos” at Sotheby's
In October last year, a Rare Pepe inspired by Bitcoin evangelist Andreas Antonopoulus, named “Pepenopoulos,” was auctioned off at Sotheby’s for $3,65 million. This NFT represented one of the most expensive digital asset sales ever conducted by Sotheby’s and one of the most valuable non-fungible tokens in the Bitcoin crypto collection.
The auction of “Pepenopoulos” took place on the London auction house’s digital asset marketplace, called Sotheby’s Metaverse.
NFTs will be a $200 billion market opportunity by 2030
The NFT boom has attracted big names to the cryptocurrency market. Brands like Gucci, Dolce&Gabbana, Adidas, Nike and more have jumped into the market. Even well-known artists and celebrities like Beeple, Snoop Dogg, Grimes and Shakira, among others, have launched NFT collections that have sold out in no time. Renowned actor Anthony Hopkins celebrated his successful career in the film industry with NFTs. Consumer product companies, such as Samsung, LG, Mars and many others are also using non-fungible tokens to improve their marketing and sales strategies, offering utility to their consumers and users.
Football teams such as Paris Saint-Germain and Barcelona, and the National Basketball Association (NBA), are also attracting millions of fans to the world of NFTs.
In 2021, the NFT market moved more than $26.900 billion according to Chainalysis. Although interest in non-fungible tokens has waned a bit this year, analysts at Grand View Research believe that this will be a multi-billion dollar market, worth more than $200.000 billion, in the next decade.
Continue reading: Queen Elizabeth II's farewell floods the NFT and meme coin market
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