Hi, it’s been a while since I last posted.
Until just recently, I had suspended the shop because Bitcoin price was too low. (but it’s open now)
Based on that experience, I made some decisions about the opening condition and pricing.
- An opening condition determined by the lowest price of exchange rate
I set a condition for reopening this shop from the Bitcoin exchange rate. If 1BTC is less than 4000USD, this shop will be suspended automatically.
- Thus, the lowest price ranges of the items are fixed.
This shop is BTC-denominated, and the prices of the items themselves(=the reference price) are not reduced. (So the current prices are the lowest price.
To sum up, the above condition determines the lowest prices.
- Burn the editions (reduce the max number)
I am thinking of reducing the edition numbers if the price of bitcoin is too high. Because if the values of the items in relation to the legal currency are not adjusted, the realistic incentive for collecting will be lost.
For example, if a limited edition is 30, it is reduced to 5 (just an example). The timing and detailed conditions are still undecided. This is only after the bitcoin price rises and stabilizes.
Conversely, if the bitcoin price is too low and remains below 4000USD, I stop selling the BTC-denominated items in this shop permanently. In order to leave the items for future generations, I’ll entrust them to credible someone. This applies to the BTC-denominated items only such as “NewOrder/SirenCall?”.
__Nobody knows what the market price will be.
Best time to collect Goh’s works
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 works using the blockchain I was developing. Also this shop is 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 works.
Many people value the market prices and authoritative stories rather than the art works, but you found the value early on your own. I hope that such persons collect my works.
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. An, the collection has a strong meaning when collected as a series.
In many cases, the art works are expensive, so most people will not face the opportunity to collect a complete series.
I don’t know if such good conditions will appear in the future.