A non-fungible token modelled on the mysterious Bitcoin founder Satoshi Nakamoto as Pepe The Frog has sold for $350,000 (roughly Rs. 2.5 crores). NFTs built around Pepe the Frog meme have been popular for a while now. The meme that is a viral phenomenon has given rise to a vintage series of non-fungible tokens (NFTs). The tokens are known as the Rare Peeps and were minted as a set of digital collectible cards in the 2010s. The Satoshi Nakamoto-inspired NFT is the latest to join the list of Pepe Frog collectibles that have sold for a far from modest amount.
The NFT in discussion is a digital card with the caricature of a green-fleshed man and the words “Nakamoto Card” printed over the image. Below it, there are particulars, like in other such cards. It says, “(Heart emoji) = 15 Atk = 3 Spd =1 Ele= Fire.” This is followed by a description that says, “Creator of Bitcoin. One of the rarest Pepes in existence. Rareness Score =97.” The green-fleshed subject is the signature of the Pepe the Frog meme.
But why Satoshi Nakamoto? Satoshi Nakamoto is arguably one of the most elusive names in the history of cryptocurrency. The name is used to address the person or group of persons who developed Bitcoin, the most popular cryptocurrency. While many attempts have been made to identify the face behind the name, the jury is still out on who Satoshi Nakamoto is.
So then, who is the NFT modelled on? The meme NFT in question bears a resemblance to Dorian Nakamoto, who was identified as the currency's creator by Newsweek in 2014. He, however, has denied all such claims. Bitcoin price in India was around Rs. 37,15,843 at 6pm on August 31.
The tokens were listed on the dominant NFT marketplace OpenSea, attracting buyers from all around the world. Speaking about the piqued interest around Pepe the Frog meme-based NFTs, Emblem Vault co-founder Shannon Code told CoinDesk, “One of the things we have been witnessing is that the all-time highs for these Rare Pepes are doubling or tripling over the past couple weeks, specifically due to them having access to the capital on OpenSea and more broadly on the Ethereum blockchain.”
The card was believed to have been minted in September 2016.