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John Karp - @NFCsummit mode until June 4/6
Founder of @NFCSummit Co-editor of @nftmorning President @nftfactoryparis @bemyapp #8569 #4291
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John Karp - @NFCsummit mode until June 4/6 reposted
I have a new drop coming up this week that I'm extremely excited about. If you'd like to be among the first to hear what's coming, drop any comment below and I'll add you to my group chat. Will send info there first thing in the morning!
Been hard at work and so happy to finally share.
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Someone should launch The 2021 Impossible Drop: gas wars, interface crashing, auction system glitching… pure chaos.

John Karp - @NFCsummit mode until June 4/6Aug 16, 00:27
People complaining because they were not able to mint…. Are we back ?
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John Karp - @NFCsummit mode until June 4/6 reposted
I have a new theory for 1 ETH = 1 ETH
My answer before was that people price in ETH but they budget in USD.
My new answer is that 1 ETH does actually equal 1 ETH, but it’s a nuanced answer.
There are 3 assets you need to consider: USD, ETH and NFT. The question is where do you place your capital.
The first the assumption is that the vast majority of NFT purchases are done in ETH. So given this assumption, you first need to convert USD to ETH or you already have a bag of ETH.
Now let’s take a cryptopunk as an example NFT. Do you buy a punk or not? Now in order to do this, you must have ETH (per the assumption above). If you think the punk will just maintain its price in ETH, then why not just hold the ETH, which is much less risky? If you think the punk will maintain its price in USD, why not just hold the USD?
Now if you think either will increase over time, then buying the punk becomes interesting, but the most interesting scenario is that ETH to USD and the price of the punk in ETH both go up. It’s a double compounding bet on ETH and the NFT. That is where NFTs become very lucrative and I think that is what many are considering when looking at NFTs as an investment at the moment.
So this is all to say that as ETH rises, I do think 1 ETH does equal 1 ETH. It’s almost like a game of double arbitrage. It’s like converting USD to Yen believing it will outpace USD and then on top of that buying Japanese art with that Yen believing art in Japan will also increase in price in Yen.
Now I think this new theory is more true the higher the price of the NFT, but as you go lower I think it tends toward my original theory of price in ETH but budget in USD.
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