Eth Doubled….So what!

Indra Tor
7 min readMay 10, 2021

I see this more and more lately within the community. I think this is a pretty divided topic. Eth has doubled almost in price since not so long ago, and everyone who owns a ton of Eth is excited by the prospect of them getting even more prosperous.

I love this everyone gets a raise, and it’s a good thing for the community, especially the little artists who can only get work sold for 0.10 to 0.30 and such.

It means they now have actual funds that may help them with rent, medical bills, helping family, you name it. It’s a great thing, right.

Everyone wins.

What’s that?

Collectors want artists to lower the prices?


Because Eth has gone up so should we lower our prices to match?

They’re joking, right?

What, they’re serious…………….

I now see smaller artists confused, scared, and stressed they now have to slash prices because collectors are saying their work is currently not worth what it was a week ago.

My counterargument to that is likewise the art you brought last week has now doubled. The work you got last month has probably gone up 3 times.

Simple test. If a collector bought a piece of art for, say, 0.50 3 weeks ago and worth 600 dollars, let’s say.

Now it’s worth 1600 dollars at 0.50. Do you think the collector will list that to reflect the rise in Eth, or do you think they are just going to release it at either 0.50 or higher.

I cannot see a collector going well. I should lower it to around 0.15 now the price of Eth has gone up.

Also, I don’t see collectors having the same problem when it comes to buying Meebits. Meebits launched around the sudden rise in Eth. Yet, a collector wasn’t asking Lavalabs to lower the prices to match the increase in Eth. Equally, some Meebits are probably now worth way more just because of Eth. I equally think these collectors won’t lower the prices to match.

This brings me to prominent artists; I haven’t seen any large artists drop or lower their prices to match. I haven’t seen a collector DM them or make a complaint to them about lowering the costs. This isnt a dig at any big artists. I love some of your work, and you shouldn’t reduce prices.

Yet I see collectors coming to artists who can barely make a 0.30 sale and asking them to drop their prices.

Do you have any idea how shit a position you are putting that artist in. Some of these artists are waiting for a sale. I know one artist who has had their prices unchanged for months, and then a collector asks them to lower it because Eth has now gone up.

Like seriously, you want an artist who is already waiting on a sale for months to delist. Relist it costing anywhere from 100 dollars to 300 dollars depending on the shit price of gas.

You a collector who may well have over 10 pieces in your collection which has now all doubled in price thanks to the rise in Eth. You want to come to an artist who can barely pay gas and ASK them to foot the bill of something you greatly see gains from.

Like didn’t we leave all this shitty shady bullshit behind when we entered the crypto market? Place where we don’t have to deal with the shady business practices and the idea there is enough for everyone.

As far as I know, I buy and sell in Eth. Yes, there’s a dollar attached to it, but I value art at the price it is in Eth.

I just brought my most expensive piece lately, which was 0.20. This was in the middle of this price high. Now I cant afford this in reality, but I liked the piece and got it. I got it based on its Eth value.

If you are obsessed with the dollar value of your Eth then to quote the a cool twitter person who would say “you are not all in”.

The great thing about buying that piece is if Eth carries on going up, guess what I get a boost.

Before we go well the price has gone up but the arts the same. This is true, and real-life situations of this tend to happen slower. So whose fault is this, for example.

In 1980 a big mac meal was roughly 2.50 dollars. Today it’s closer to $5.00 or more the value of that meal hasn’t changed it’s the same process, the same sauce, the same everything.

The only difference is the time it’s taken. 1980s till now to see it double. Go back even further, and the big mac was like 60 cents.

The only difference here is because of the crazy nature of Eth, you have seen a jump that in the real world took decades.

Suppose Mcdonald in 3 months raised their prices and doubled it. Do you honestly think Mcdonald’s is going to lower it to adjust for dollar jumping.

Pretty sure they wouldn’t because it’s not a singularly thing. Everything mcondlands buys is now also double in cost.

This goes for the collector you buying art against the dollar may have doubled but as I said, so has your whole collection. I don’t think you are hurting to buy a cheap piece.

Instead, I now see smaller artists delisting, burning, moving, relisting in a panic because of some greedy collectors who are moaning that everyone should lower the prices. But would they accept the same if Eth dropped?

If Eth goes from 4000 dollars to suddenly 2000 dollars, are they happy with every artist raising prices to meet the sudden price drop. I highly doubt they would. I imagine they would complain. You cant have it both ways.

It is not an artist’s fault Eth has suddenly doubled, and I don’t think it falls at the feet of smaller artists to pay out of their pocket to lower prices to make a collector happy.

The simple fact is if they love your work they should just buy it. If they want to haggle a price, then it’s clearly a business transaction in my eyes.

If that means all the collectors ignore me, or my prices are currently too high, then that’s fine; I will accept that. It’s one of these again where you don’t see the effect it has on smaller creators. You don’t see their issues, their problems they are putting on a brave face, but you are destroying them in reality.

This may be the first decent tweet they had in months, and they open the DM to see a collector they know. Omg, they want my piece or want to chat. Then you go and ask them to drop their price.

How shitty is that. It’s hard enough to even get a collector to pay attention to smaller artists except a few :) who is awesome, and you guys rock.

You now put that artist in a tough spot.

What if that artist is slowly trying to raise their base price they list for 0.20 normally, and this one is 0.25? You now ask them to lower it to 0.15.

Instead of raising the base price, you now have made them sell the cheapest piece of art at ETH.

So now, once Eth stables and people accept that this is now the price, they have to suddenly justify a price rise.

I know the argument is going to be well. Are you saying a piece of art should be worth 6 thousand dollars then even if it’s a small piece because of Eth and shouldn’t the artist just accept this.

My answer to that is nope, you buy and sell in ETH that piece is worth 0.15 Eth, which is comparable to a prominent artist who is selling pieces for 2.5 Eth or a Beeple, which goes for 20 Eth or higher.

Artists are pricing based on that 0.15 eth is cheap it’s entry-level it’s the price of minor artists. If you don’t like that because you are obsessed with your dollar value and then please, by all means, go and ask one of these huge artists to lower the base prices, and smaller artists can do the same.

I don’t see how a large artist can keep listing for 1 to 3 Eth without having the same questions asked, but you expect the small artist to drop their prices because YOU don’t think it’s worth the price.

I am sorry, but that sounds like a shit offer and a slap in the face of minor artists.

So, should you lower your prices? in my honest opinion, and people may 100 percent disagree with me, and I accept that, but no.

I buy and sell in Eth a 0.10 piece will forever be a cheap piece. Even if 0.10 has a dollar value of 20 thousand because I have 1000 eth valued at a stupid amount of millions, why the F should I care.

We left that world behind this greed and forcing people into shit situations. It’s over it’s done. Suppose you want to argue the dollar value to Eth as a reason for a small artist to lower the price. In that case, I expect to see the same energy on more prominent artists equally, and I hope you sell your 2nd market pieces at a lower price than you brought them.

Otherwise, to me, it feels like you are using it as an excuse to get some cheap art.