Nifty News: PROOF cancels NFT conference, Bitcoin meme creator cashes in $150K and more

“Less interest than expected” – PROOF cancels NFT event

Kevin Rose, co-founder of the Moonbirds non-fungible token (NFT) collection, confirmed that their flagship “Proof of Conference”, scheduled for May, has been cancelled, citing “less interest than expected”.

The conference was first announced in early November. It was supposed to pass in May. 11 to May. 13 in Los Angeles.

However, in a February 20 letter, Rose explained to ticket holders that now was not the “right time” for the conference:

“As you know, in the NFT world, timing is everything. And today is the time for us to recognize that now is not the right time for the PROOF of Conference.”

Rose explained that he and his PROOF team considered alternatives, such as choosing a new location in Los Angeles where it was to take place, a smaller size, downsizing the event, and lowering ticket prices.

But ultimately it would be better to cancel the entire event, he said.

“After several weeks of gathering sales data, talking to potential sponsors and community members, it is clear that interest in an event like this is much less than expected right now.”

Rose confirmed that an Ether (ETH) refund is being processed right now and that PROOF has an application page where people can submit non-refundable flight cancellations.

Message from Kevin Rose and the PROOF team about the cancellation of the PROOF of Conference. Source. PROOF.

The event was scheduled to feature Michael “Beeple” Winkelmann — the artist behind the famous NFT that sold for $69 million in March 2021 — Reddit co-founder Alexis Ohanian, Greg Solano and Wiley Aronov of Yuga Labs, and NFT entrepreneur Gary Vaynerchuk. other.

The announcement comes despite the explosive growth of the NFT market in recent months, in particular, the month of January saw an eight-month high in monthly NFT trading volumes in excess of $1 billion.

Artist Paid $150,000 for Bitcoin Wizard Meme on Ordinals

The emergence of NFT-like “sequence numbers” in bitcoin over the past month has brought a series of meme images to the web, including the famous bitcoin wizard meme that first appeared on the bitcoin subreddit in 2013.

Thanks to the Ordinals, the creator of the said meme, known as “Mavensbot”, just received 6 bitcoins (BTC) worth $150,000 at current prices for his iconic work.

This was made possible after blockchain analyst Udi Wertheimer and the meme-inspired bitcoin community Taproot Wizard wrote the magic meme into bitcoin to not only “celebrate the 10th anniversary of his art,” but also get some money for the meme creator. “Mavensbot”, according to Wertheimer:

In the first three hours alone, 6 bitcoins (BTC) were sent from “NFT users” to Mavensbot via the Lightning network.

“Watching this made me very happy. The NFT community, which I admire, is using the bitcoin asset and the Lightning Network, which I believe in, to support the artist whose work means so much to me.”

“You like to see it,” he added.

Taproot Wizards is part of a movement that wants to “make bitcoin magical again” with magic Internet JPEG files permanently inscribed on the bitcoin blockchain.

However, Wertheimer stressed that not everyone agrees with the whole concept of ordinals, especially “Bitcoin Maximalists.”

But Wertheimer doubled down, urging bitcoin maximalists not to take things seriously:

“It’s time to get back to the spirit of Bitcoin Wizard 2013. Playfulness, experimentation, innovation. Don’t take yourself so damn seriously all the time. FUN for Satoshi. I truly believe that with the Ordinals we finally have a chance to do it.”

Australian cocktail bar launches NFT membership program

Australian cocktail and NFT connoisseurs have gained a new location in Sydney that allows non-fungible token (NFT) holders to access additional bar perks.

Sydney cocktail bar Bar Lulu opened on February 21st local time along with NFT Members Club Bar called Cryptolulu.

Visitors to the Sydney-based bar will need to purchase the NFT Member Club Bar from the NFT OpenSea marketplace on the Ethereum network in order to access certain perks.

Credits and rights of NFT artists: Arturo Rodriguez and Mark Monfort. Source: Bar Lulu.

Three tokens can be purchased – Jia Lulu, Joo Lulu and Ryuu Lulu.

Each NFT is a separate membership level that unlocks unique and additional rewards, priorities, and benefits.

Token holders will be able to attend a range of different networking events and Web3 educational sessions, access to exclusive private lounges and dinners, among other things.

Bar Lulu claims the NFT’s membership program is the first in Australia.

The bar added that the launch came after months of watching similar experiments work overseas in the hospitality industry.

Former Amazon CEO launches Yelp-like NFT verification platform

Ben Straley, a former Amazon and Starbucks executive, launched an NFT startup “Thred” that aims to be the Yelp, Tripadvisor or Zillow of the NFT industry.

NFT-focused startup Thred was launched on February 16 and will help users find and view NFT collectibles. report from TechCrunch.

Screenshot of the current Thred homepage. Source: Limit.

Straley came to the NFT space after 25 years in leadership roles in digital products and customer service.

The Thred platform will combine automated machine learning and algorithms for ranking NFTs on the Etherum and Polygon networks.

This will help potential buyers better understand the meaning of the collections and help determine which NFTs are legal.

Other great news

A month after the NFT-like bitcoin “sequence number” mania, a protocol fork occurred to enable the use of ordinals on the Litecoin network. Australian software engineer Anthony Guerrera said it was “pretty easy” and that he was motivated to create the fork because of the 22 LTC reward.

Real Vision CEO and co-founder Raul Pal also said on Feb. 20 that NFTs will operate similarly to high-end real estate in the traditional economy and potentially outperform ether (ETH) during bull markets.

The former JPMorgan executive explained that NFT collections such as CryptoPunks and the Bored Ape Yacht Club (BAYC) have become status symbols like luxury cars and homes, and he expects this trend to continue.

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