In just half a day, with a market value exceeding 80 million USD, why did Pepe Meme artist BOME become a sensation?

Written by: Nan Zhi, Odaily Planet Daily

Today, the BOOK OF MEME (BOME) released by Pepe Meme artist Darkfarm is trending across various social media platforms. Within just three hours of its launch, it surged 20 times, with a market value exceeding 80 million USD. What has driven such a rapid increase? Odaily will reveal the project concept and development history in this article.

Meme Library ------ BOOK OF MEME

Who is Darkfarms?

Darkfarms is an artist focused on creating Pepe Meme art. His most well-known work prior to this was the Pepe-themed NFT series SMOWL. This work was released two years ago, with an initial price of 0.04 ETH. Before BOME exploded in popularity, its floor price was around 0.047 ETH, and it has now risen to 0.2 ETH.

In addition to this work, Darkfarms has been continuously creating Pepe Meme art and NFT series over the years. Here are some examples from his personal website:

What is BOOK OF MEME?

On March 10, Darkfarms began to preview the upcoming launch of the project. On the 12th, he disclosed the project "BOOK OF MEME" and its concept. Darkfarms stated that BOOK OF MEME is

an shitcoin, an updatable electronic magazine, a multifunctional tool for creating Memes, a CC0 Meme art library with all unminted JPEG links. It might even be a decentralized social network, a single NFT that connects everything, and a small gif on the solscan browser.

BOOK OF MEME captures the current Meme meta(data), including the vast majority of on-chain Meme coins, with data stored on Arweave/IPFS/inscriptions, and can even serve as a cross-chain storage social platform, but primarily it is a book that I can update and continuously add new Memes and new styles.

In short, BOOK OF MEME is a permanent storage library for Memes and will expand a series of Meme creation functions based on it.

Darkfarms showcased some features of BOOK OF MEME, such as converting images into glitch pixel art:

Permanently storing Meme creation content on Arweave/inscriptions/ipfs, etc.

Pre-sale Launch

On March 13, Darkfarms launched the pre-sale. Participants can join by sending SOL to a designated Solana address. There is no fixed price for the pre-sale; all participants will receive tokens based on the proportion of SOL they donated. The progress of the pre-sale far exceeded Darkfarms' expectations, as the original fundraising goal was only 500-600 SOL. Therefore, he initiated a community vote to decide how to allocate the pre-sale funds. As of 8 AM today, according to data disclosed by Darkfarms, a total of 10,131 SOL has been raised.

At 3 PM, Darkfarms added all the raised SOL into the LP pool, with an initial price of 0.0{3}496 USDT. Subsequently, the token began to spread widely in both Chinese and English communities. Due to its high liquidity, it was able to accommodate a large influx of funds, with numerous buy orders exceeding 100 SOL continuously driving its price up; BOME peaked at a maximum price of 0.0012 USDT, increasing approximately 24 times, with a market value exceeding 80 million USD.

Currently, BOME continues to rise and has entered the second tier of market capitalization for Solana Memes. Whether it can become the next billion-dollar Meme remains to be seen in the market dynamics.