The Penisium Project
As the 2017 Initial Coin Offerings (ICO) boom on Ethereum continued to grow out of control a Bitcoin Talk Forum post announced a project called Penisium, Decentralized E-Peen Capital. This was on June 29, 2017 and reading through the comments will give you a feel for absolute chaos that was happening at the time. The team minted a token called PENISIUM and announced that it would be distributed via “Proof-of-LOL”.
By visiting the ICO page on the website, users were presented with a Proof-of-LOL field which was 69 characters long (nice) where they were tasked with entering something funny. The funnier the Proof-of-LOL, the higher the PENISIUM reward the user got. The page was only functional from July 1st to July 14, 2017. On July 15, a 4 hour livestream was broadcast on YouTube where a panel of judges read through the submissions and rewarded anywhere from 1x to 1000x of the base 10,000 PENISIUM that each contributor was to receive. You can view a recording of the livestream below.
Initially the team had planed on minting cards based on the submitted jokes but quickly realized it would take too much time and money to mint all of them and ditched that part of the reward.
In total 42,220,000 PENISIUM Tokens were minted and the supply was locked. The distribution was as follows:
The complete list of submission and team rewards can be found here.
The First Project Card
Soon after the free distribution of the PENISIUM tokens the first project card was released. It was named PEPEDROP and was minted on the Counterparty platform. The card had a locked supply of 100 and it was airdropped to top 100 PEPECASH holders in hopes of getting their attention and pique their interest in the new project. To this day, PEPEDROP has perfect distribution (no holder owns more than 1) and only 5 of the 100 have moved in the past 6 years.
The Website
The project website is https://penisium.org.
Note: the website has an expired security certificate and is reported as “unsafe” by most browsers. Proceed at your own risk.
Make sure and view the project Whitepaper. It is a sight to behold!
The Project
The project had lofty goals and appeared very well organized. They had downloadable art packs for card creation, exacting submission rules, a burn address and a foundation (named BALLS) to grade the cards and add unique touches such as Tags to the finished cards prior to minting. There were 4 levels of cards that could be included in the project — Bronze, Silver, Gold, and Holo. Each with a set quantity and cost of PENISUM tokens to be destroyed. In the short time the project existed, over 1 million PENISUM was destroyed and 31 cards were minted.
Sadly the whole project lasted only 109 days (June 25, 2017 — October 11, 2017).
Pants Wallet
One of the project artists — INDELIBLETRADE was so motivated by the project that he coded up a wallet based on JP Janssen’s outline. He called it “Pants Wallet” and said recently that “it showed length and girth metrics that were based on your collection.”
Historical Card Tiers
The Cards
Bronze Cards
The Bronze Cards are: WARHOLPEEN (artist unknown), TRIPPEEN (artist unknown), PEENINSULA (netidx), THEANTONTAUN (Emoji Nakamoto), TAPEMEASURE (nathansonic), PAPERJPEEN (John Villar), POKEPEEN (artist unknown), VITALTHICC (artist unknown), PEENHEAD (OE), DAVIDSNOSE (nathansonic), TURBODASNAIL (artist unknown), PENISIMOON (poor f00k), and DICKBUTTS (artist unknown).
Silver Cards
The Silver cards are: PEENOCCHIO (Django Bits), SHLONGDONG (artist unknown), ORIGINTURBO (artist unknown), and NYANPEEN (artist unknown)
Gold Cards
The Gold cards are: SPEEN (nathansonic), MCAFEEPEEN (rare scrilla), PEENPANTHER (rare scrilla), RAMSAYBOLTON (IndelibleTrade), WHORECRUX (artist unknown), PEGGPLANT (Emoji Nakamoto), DONGSLOSTMAP (artist unknown), MOBYDICK (Jose Burrito), PEENARCH (Carsonated), PENISQUIRREL (poor f00k), and PEPEDROP (Zorg)
Holo Cards
The Holo cards are: DORKINS (artist unknown), PENISIUMLONG (Rare Scrilla), and DRUKPAKUNLEY (IndelibleTrade).
Unreleased Cards
BALLBAG (nathansonic)(founder of the Kaleidoscope Project) is an unreleased Hologram card. The card also sports an unreleased tag “RESERECT”
Conclusion
This slightly NSFW project was unique in many ways and had people talking and LOLing for almost 5 whole months in 2017. Collecting all 31 cards is most likely impossible as several of the cards have zero distribution and are in wallets that have not had any activity in the last 5 years. But I’ll never say never! Stranger things have happened in the historical NFT space.
