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#RARE PEPE THE FROGS FULL#
Thayer is demanding a full refund of his $537,000 purchase price or damages equivalent to the difference between what he paid and the value of his NFT after 46 identical NFTs were released for free. The same month that Thayer bought his Pepe the Frog NFT, another unique Pepe NFT, PEPENOPOULOS, was sold at auction by Sotheby’s for $3.6m. However, Thayer claims, after he successfully bid 150 ETH, worth at the time $537,084, for the FEELSGOODMAN Pepe card, which sits on the Ethereum blockchain, Furie and/or his associated company and DAO, Chain/Saw and PegzDAO, released another 46 identical NFTs, apparently showing a nude Pepe the Frog bathing in a pond, pushing the value of Thayer’s Pepe card down to below $30,000. Thayer’s complaint to the court says that the “purportedly ‘rare’ and ‘unique’” Pepe the Frog NFT, created in 2016, was advertised for auction in October 2021 with the promise that another 99 identical NFTs would be withheld from circulation ”indefinitely”. Furie, who created Pepe the Frog in 2005 as a character in his Boys’ Club web comic, is believed to live in Los Osos, California. NFT collector Halston Thayer, who lives in Las Vegas, Nevada, has accused Furie of “unlawful, unfair and fraudulent business practices” in a claim filed at the district court for the central district of California, western division.
The buyer of a Pepe the Frog NFT for 150 ETH is suing the NFT’s creator, Matt Furie, claiming that a free giveaway of 46 more Pepe NFTs two weeks later slashed the value of his NFT by more than half a million dollars.
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