Hi, this is Goh. It’s been a while since I last posted.
Until recently, this shop had been suspended because Bitcoin price was too low. (But now it’s open.
At that time, I decided some matters.
- An opening condition: the lowest price of exchange rate
I set the exchange rate conditions. If 1BTC is less than 4000USD, this shop will be closed/suspended automatically.
- Thus, the lowest price range of the items is fixed.
This shop is BTC-denominated, and the price of the item itself(=the reference price) is not changed. And from the condition above, the lowest prices of the items are led.
*An item price consists of a reference price(item itself) and peripheral prices(shipping, framing, tax..).
*Peripheral prices such as shipping fee and framing fee are also BTC-denominated. This is not fair for many people who live in the Fiat world, so the peripheral prices are adjusted to avoid being too expensive. But the item price will not be discounted in the future.
- Adjustment/Reduction of the edition
If the bitcoin price gets too high for the pieces, I am thinking about burning the remaining editions. For example, if a limited edition is 200, it will be reduced to 50. The timing and the condition of the price are undecided.
Conversely, if the bitcoin price is too low and remains below 4000USD, I’ll stop selling the pieces currently in this shop permanently. In order to leave the pieces for future generations, I entrust to credible someone a few pieces prepared at my own expense. This applies to the pieces sold only in BTC-denominated such as “NewOrder/SirenCall?”.
Nobody knows what the market price will be.
Best time to collect my art pieces
This shop was started in May 2018, 1 BTC was around 9000 USD. At that time, I expected the Bitcoin price range to go up, so I set the item prices as the lowest price. But as you can see, the price fell in 2018 and people’s liveliness was also lost. The current price is half the lowest price I expected.
In the first place, I made this shop to test a traceable rights mechanism for art piece using the blockchain I was developing. Also this shop was a place to connect with people interested in my art&cryptocurrency activities, for me. That is, I could continue the shop because I was not profit-first.
The current price range, that’s the cheapest range, is the best opportunity for early adopters who have found some value(not only price) in my pieces.
Many people value the market prices and authoritative stories rather than the art pieces, but you found the value early on your own. I hope that such persons collect my pieces.
In particular, “NewOrder/SirenCall?” has already been exhibited at art museums and awards, but it has not yet been collected comprehensively as a series.
In addition to fulfilling the desire to own pieces, and supporting the artist’s activities, the art collection also plays a role in archiving/storing memory of the era distributedly. And, the collection has a strong meaning when collected in a series.
In many cases, the art pieces are expensive, so most people will not face the opportunity to collect a complete series.
I’m not sure if the condition like the present will occur in the future.