Rarest Pepe — ‘most important NFT in art history’ — sells for 205 ETH

The rarest Pepe of them all, “Homer Pepe”, has sold for 205 ETH ($320,000) according to owner Peter Kell.

The one-of-a-kind card displays a morph between Simpsons character Homer and the infamous Pepe The Frog.

Peter Kell’s Instagram post. Source: Instagram

Pepe is a cartoon frog created by artist Matt Furie and has inspired countless memes on the internet including Rare Pepes, one of the first art experiments on blockchain.

The Homer Pepe is a user-generated card from the Rare Pepe collectibles platform developed by Joe Looney in 2016 and showcased in the Rare Art Labs Digital Art Festival in 2018. The card was acquired by Kell at the first-ever live auction for blockchain art for $38,500 — said to be the highest price for a non-fungible token, or NFT, at the time. The artwork was also recently featured in the Sundance Film Festival award-winning documentary, “Feels Good Man.” The documentary’s official Twitter account said the card sold for more than the cost to make the entire film.

The new owner, TokenAngels, appears to be accumulating hundreds of other NFTs in the series, and rushed to pick up the most prized one after news emerged it was up for grabs.

“I had to sell a few punks in a hurry,” TokenAngels explained referring to collectibles CryptoPunks. “It was for far less than they’re worth but it was so important to get the funds together to make the transaction on time!”. Joe Looney acted as escrow for the sale.

Well-known artist Matt Kane, honored in Cointelegraph’s Top 100 this year, had earlier created a tribute artwork to Homer Pepe and his tweet about it drew attention to the fact that Kane was looking to sell the original.

Kane said: “I see HOMERPEPE as the most important NFT in art history because its headline-making sale in 2018 influenced so many of the original crypto artists to believe we could put our art to work building both a market and belief around this new technology.”

NFTs, in general, have seen explosive growth this year with more than $300M in sales being generated in the first two months. OpenSea co-founder and chief technology officer Alex Atallah stated earlier this week that the market has grown by more than 7,000% from last year:

“After @3LAU’s drop last night, the February Ethereum NFT market passed $300m. That’s 7450% growth from last year,” he said on Mar.1.

Renowned music artist 3LAU made history by partnering with Origin Protocol to release his new album through an NFT auction to the top 33 bidders. Raising more than $11.6 million with the top bidder offering $3,666,666. 3LAU also promised to collaborate with the top six bidders to create a custom song or remix for each individual.

Beeple hit the news last week with his Crossroads NFT reselling on the secondary market for $6.6 million. He has also broken through into the mainstream art sector with his “EVERYDAYS: THE FIRST 5000 DAYS” NFT currently being auctioned off at Christie’s auction house. Bids for the piece are currently sitting at $3.25 million.

Painter Trevor Jones showed the power of the NFT market with his “Bitcoin Angel” painting raising more than $3.2 million with 4,157 editions sold in seven minutes.


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Rare Homer Simpson Pepe NFT Sells for $320,000

Key Takeaways

  • A “Homer Pepe” NFT has sold for over $320,000.
  • The original owner of the digital collectible bought the piece in an auction for $38,500 in 2018.
  • As the NFT space draws more attention, price valuations for some pieces have skyrocketed.

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The NFT hype continues, and with it comes a wave of wild price valuations. 

Homer Pepe Sells for 205 ETH 

Another rare NFT has fetched a six-figure price tag. 

This time, it wasn’t a celebrity’s digital collectible or a musician’s exclusive audio-visual release. 

“Homer Pepe,” a digital card that merges The Simpsons icon Homer Simpson with meme sensation Pepe The Frog, sold for 205 ETH, worth around $321,440 at today’s prices. The digital collectible was a one-of-a-kind edition, which partly explains its perceived value. 

Source: Vice

The card’s seller was Peter Kell, who took to Instagram yesterday to celebrate his newfound fortune. He said: 

“This is an absolutely insane event in the NFT world. I’ve definitely learned the value of Digital Art. More proof that NFTs are the real deal and will be a big part of how art is sold in the future.”

Kell originally acquired Homer Pepe at Rare Art Labs Digital Art Festival in 2018. During an auction for various other rare Pepe The Frog collectibles, Kell bought the collectible for $38,500. The hefty price tag made it the most valuable piece in the collection. 

Thanks to Kell’s sale, Homer Pepe’s price has increased by over 700% in under three years. 

The NFT Boom

It’s another eye-watering NFT trade that will doubtless attract some skepticism. The technology, which provides provable scarcity and ownership over digital assets, has hit the mainstream this year, helping to shine a light on Ethereum’s potential. 

Beeple, one of the NFT movement’s best-known artists, is currently selling a piece called “Everydays: The First 5000 Days” at Christie’s, in what has been referred to as a watershed moment for the NFT space. Bidding is at $3 million with nine days remaining. 

Beeple’s “CROSSROADS” piece also sold for $6.6 million last week, making it the most expensive piece in NFT history.

Last night, a rare punk in the CryptoPunks canon sold for 750 ETH, around $1.18 million. 

The high prices some NFTs sell for have helped draw attention to the space, though digital art remains a fairly divisive subject. 

Still, with so many new entrants looking to jump on the bandwagon, there’s a good chance that NFTs could be here to stay. 

Disclosure: At the time of writing, the author of this feature owned ETH, and a number of other cryptocurrencies. 

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