Honestly, I think that's probably a fair price for it, which is ridiculous. I know how ridiculous that sounds, but that was probably a fair price. I think that the person buying it, they didn't get a steal, but I don't think they got ripped off. I think they got it for about what it should have gone for because I know the -- I remember Pepe Pizza which had been auctioned off a week before on an online auction, I think that went for like 320k or 330k Pepe Cash. And I remember thinking, ‘Man! I think that's about right. I think that's probably about what I would expect that that would have gone for.’

Who is Buying the Most Expensive Rare Pepes?

Jason: People want to tell the story that it is the newly CryptoRich buying this rare digital CryptoArt. Is that right or just a good story?

Joe: Did you read that article that just came out recently? I thought that was interesting. I read that one, too, and it's interesting. People have all this money now and they aren't really sure what to do with themselves.

Jason: Do you think that's accurate or do you think that's sort of like the better story for reporters to tell so they're like, "Oh, yeah, there's all these young rich young people, they don't know what to do with themselves because they made money so quick." Because it's already in crypto, it's just easy for them to buy other CryptoCollectibles. Do you think that's accurate?

Joe: I think if you look at it from the fact that there’s huge barriers to entry -- you got to get the Bitcoin, you got to get the Ethereum -- so probably the people buying these things are the ones that are already into it because they know how to use it. I think it's probably entirely accurate that people like those guys in that article are the reason why some CryptoKitties have sold for over $100,000. It's like people in the art world in these smaller kinds of communities that buy art are kind of trying to impress each other. So now you've got that same thing, but in the digital world. So now you've got these guys that have gotten rich on Bitcoin, Ethereum, what have you, and they want to impress each other. I really think that that's probably pretty accurate and why you see these markets going the way they're going.

And I don't see any reason why as long as Bitcoin and cryptocurrency keeps going the way it's going, gets more adoption -- I think that would just kind of be the new segment of the art world. And here's these other rich people that all got rich in this type of thing and they buy this kind of art. I think that's probably accurate. I think those guys in that article are probably the ones spending $40,000 for a Rare Pepe.

I thought that article was pretty interesting because it's like it made sense a little more after reading that. I always knew, even within the Rare Pepe community, there's people within that community that are, like, crypto-retired. And I know people that are crypto-retired, and it's usually people who don't have families to support so they can retire and they don't have to worry about paying --

Jason: Putting their kids through college and stuff.

Joe: Exactly. So I'm not crypto-retired because I have to be responsible because I'm a parent. But that could change if I had tens of millions of dollars. But it's interesting that -- I think that's pretty accurate. It's just, people are crypto-rich. They definitely are. Something doesn't go up 1,000 times, but there's some people getting really rich.



Jason: And since they're already part of this community and using Telegram and talking to each other, they know about Pepe and whatnot. Why wouldn't you buy within the community that made you rich, arguably, right?