The concept of a "Rare Pepe Economy" is nothing new in the world of memes. During the intitial rise of Pepe, many meme enthusiasts, primarly on 4chan, regarded collections of rare Pepes using market terms similar to those seen on MemeEconomy. Diligent traders and collectors amassed catalogs of Pepes in exchange for the currency known as "Good Boy Points" (GBP). In the Rare Pepe Economy, values were assigned to various Pepes on an inverse relationship to their popularity. That is, the rarest pepe is one which has been seen by nobody. Unfortunately, this economy was not stable, and for a long time, many experts predicted it had collapsed completely. The tragedy was that, with increasing popularity, the value of Pepes as a whole had been dropping. When it breached mainstream media outlets, early adopters and speculators around the globe had packed their bags for good, as the Pepe had, in their minds, become useless.
Fortunately, the tragedy of the Rare Pepe Economy was not permanent. The adoption of the Pepe by the vocal Alt-Right movement led to a massive rebound. Pepe had not died, it had only gone into hibernation.
A man by the name of billybob2014 on the Bitcointalk forums saw this rebound, and understood that for the Rare Pepe Economy to remain a long term constant, a shift in the economy was needed. Good Boy Points were infinitely inflatable, and largely fictional. They were not held accountable, meaning anyone could lie and manopulate their personal GBP balances.
His solution to this seemingly inescapable problem was the creation of his own directory for trading, displaying, and holding Rare Pepes- rarepepewallet.com. Using Bitcoin's Blockchain technology, along with CounterParty marketplace, and a new digital currency called Pepecash, this exchange was able to right the wrongs of the early economy that had previously collapsed on top of itself.
In this new, improved directory for Pepes, the tech behind it guarantees that no Pepe can be stolen or duplicated. The currency used for trading cannot be fabricated. Pepes found in this market have all been appraised and approved to be released in specific quantities.
On top of this, Rare Pepes can be transferred as "gift cards". Pepe holders are able to access any Pepe of their choice via a gift code, and by sending that code to someone else, they can gain access to said Pepe in moments. That means that any individual wishing to speculate in the market does not have to also participate in cryptocurrency, as it may be confusing for individuals unfamiliar with how Bitcoin and other coins work. THis project is still in its infancy. There are currently 500 Pepes available in the directory. As this is still a very niche site, many of the Pepes revolve around cryptocurrency, as it is the theme of the community responsible for its inception. However, this is a very unique and viable concept, and if it gains traction in the wider community of meme enthusiasts, we will certainly see an explision in Pepe prices and overall Pepe content in the near future.