PROOF cancels NFT conference, bitcoin meme creator rakes in $150,000+
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“Less interest than expected” – PROOF cancels NFT event
Kevin Rose, the co-founder of non-fungible token (NFT) collection Moonbirds, has confirmed that their flagship Proof of Conference scheduled for May has been cancelled, citing “less interest than expected”.
We made a difficult decision today, I would like to apologize to everyone who planned the trip. Full ETH refunds processed, hotels are refundable and contact us regarding flights. (Details below) https://t.co/tV4ba85648
— KΞVIN R◎SE (,) (@kevinrose) February 20, 2023
The conference was first announced in early November. It should be up in May. 11 to May. 13 in Los Angeles.
However, Rose explained in a February 20 letter to ticket holders that it was not “the right time” for the conference:
“As you know, timing is everything in the world of NFTs. And today is the time for us to realize that now is not the right time for the PROOF of Conference.”
Rose explained that he and his PROOF team considered alternatives, such as B. deciding on a new location after Los Angeles – where it was to take place – a smaller venue, reducing the size of the event and lowering ticket prices.
But ultimately, it’s best to cancel the entire event, he said.
“After several weeks of sales data, discussions with potential sponsors and discussions with community members, it is clear that there is currently significantly less interest in an event like this than anticipated.”
Rose confirmed that Ether (ETH) refunds are being processed and that PROOF has a claims page for people to submit non-refundable flight cancellations.
Kevin Rose and the message from the PROOF team regarding the cancellation of the PROOF of Conference. Source. PROVE.
Among those expected to be at the event were Michael “Beeple” Winkelmann — the artist behind the famous NFT, which sold for $69 million in March 2021 — Reddit co-founder Alexis Ohanian, Greg Solano, and Wylie Aronow of Yuga Labs and the NFT Entrepreneur Gary Vaynerchuk featured his Other.
The announcement comes despite the NFT market’s soaring in recent months, with the month of January notably posting an eight-month high in monthly NFT trading volume of over $1 billion.
The artist paid $150,000 for the Bitcoin Wizard meme on Ordinals
The emergence of NFT-like “Ordinals” on Bitcoin over the last month has spawned a slew of meme images on the network recently, including a famous Bitcoin Wizard meme that first made the rounds on the Bitcoin subreddit in 2013.
Thanks to Ordinals, the artist of this meme, known as “Mavensbot”, has just received 6 bitcoin (BTC) — worth $150,000 at current prices, for his iconic work.
This was made possible after blockchain research analyst Udi Wertheimer and meme-inspired bitcoin community Taproot Wizard wrote the wizard meme on bitcoin to not only “celebrate the 10th anniversary of his art,” but also to raise some money for it collect the creator of the meme. “Mavensbot”, according to Wertheimer:
Short story on how we got NFT to back a historic Bitcoin artist with $150,000 via lightning payments and how Bitcoin Maxis HATE us for it.
(I know it’s a long tweet but it’s a good story)
Mavensbot (above in screenshot below) is the creator of the famous 2013… pic.twitter.com/wGTegIiDM4
— Udi Wertheimer ♂️ (@udiWertheimer) February 21, 2023
Within the first three hours alone, 6 Bitcoin (BTC) were sent to Mavensbot by “NFT connoisseurs” via the Lightning network.
“Seeing that made me really happy. The NFT community, which I admire, uses the bitcoin asset and Lightning network I believe in to support an artist whose work means so much to me.”
“You love to see it,” he added.
Taproot Wizards is part of a movement to “make Bitcoin magical again” with magical Internet JPEGs forever inscribed on the Bitcoin blockchain.
However, Wertheimer emphasized that not everyone agrees with the whole ordinals concept – especially the “Bitcoin maximalists”.
But Wertheimer doubled down on urging bitcoin maximalists not to take everything seriously:
“It’s time to get back to the spirit of the Bitcoin wizard of 2013. Playfulness, willingness to experiment, innovation. Not taking ourselves so goddamn serious all the time. HAVING FUN, for Satoshi’s sake. I truly believe that with ordinal numbers we finally have a chance to do that.”
Australian cocktail bar launches NFT membership program
Australian cocktail and NFT connoisseurs have been given a new venue in Sydney to hang out at – one that gives holders of its non-fungible tokens (NFTs) access to additional bar privileges.
Sydney-based cocktail bar Bar Lulu opened on February 21 local time alongside an NFT Members Club bar called Cryptolulu.
Based in Sydney and overlooking the city’s harbour, customers must purchase the NFT Member Club Bar on the NFT marketplace OpenSea on the Ethereum network in order to access certain privileges.
NFT Artist Credit: Arturo Rodriguez and Mark Monfort. Source: Bar Lulu.
There are three tokens that can be purchased – Jia Lulu, Joo Lulu, and Ryuu Lulu.
Each NFT represents a different tier of membership that unlocks unique and incremental rewards, priorities, and benefits.
Token holders can participate in a number of different Web3 networking events and educational events, gain access to exclusive private lounges and dinners, among others.
Bar Lulu claims the NFT membership program is an Australian first.
The bar added that the launch comes on the basis of months of observation of how similar experiments in hospitality abroad have worked.
Former Amazon exec launches Yelp-like platform to rate NFTs
Ben Straley, a former Amazon and Starbucks exec, founded the NFT startup “Thred” which aims to become the Yelp, Tripadvisor or Zillow of the NFT industry.
NFT-focused startup “Thred” launched on Feb. 16, which InNewCL reports aims to help users discover and review NFT collectibles.
A screenshot of the current thread homepage. Source: Thread.
Straley’s move to the NFT space builds on 25 years of leadership roles in digital products and customer experiences.
Thred’s platform will combine automated machine learning and algorithms to score NFTs on the Etherum and Polygon networks.
It will help potential buyers better understand the importance of the collections and distinguish which NFTs are legitimate.
Other nifty news
A month after the NFT-like “ordinals” mania began on Bitcoin, a protocol fork has taken place to allow ordinals on the Litecoin network. Australian software engineer Anthony Guerrera said it was “pretty easy” and he was motivated to fork by a 22 LTC bounty.
Real Vision CEO and co-founder Raoul Pal also stated on Feb. 20 that NFTs will behave similarly to high-end real estate in the traditional economy and potentially outperform Ether (ETH) in bull markets.
The former JPMorgan executive explained that NFT collections like CryptoPunks and Bored Ape Yacht Club (BAYC) have become status symbols, much like luxury cars and homes, and he expects this trend to continue.
