{"id":17031,"date":"2023-02-21T09:02:50","date_gmt":"2023-02-21T09:02:50","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/nifty-news-proof-cancels-nft-conference-bitcoin-meme-creator-cashes-in-150k-and-more\/"},"modified":"2023-02-21T09:02:53","modified_gmt":"2023-02-21T09:02:53","slug":"nifty-news-proof-cancels-nft-conference-bitcoin-meme-creator-cashes-in-150k-and-more","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/nifty-news-proof-cancels-nft-conference-bitcoin-meme-creator-cashes-in-150k-and-more\/","title":{"rendered":"Nifty News: PROOF cancels NFT conference, Bitcoin meme creator cashes in $150K and more"},"content":{"rendered":"
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\u2018Less interest than anticipated\u2019 \u2014 PROOF cancels NFT event<\/h3>\n

Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has confirmed that their flagship conference, \u201cProof of Conference,\u201d scheduled for May, has been canceled, citing \u201cless interest than anticipated.\u201d<\/p>\n

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We made a tough decision today, I want to apologize to everyone that planned on making the trip out. Full ETH refunds have been processed, hotels are refundable, and contact us about flights. (details below) https:\/\/t.co\/tV4ba85648<\/p>\n

\u2014 K\u039eVIN R\u25ceSE (,) (@kevinrose) February 20, 2023<\/a><\/p><\/blockquote>\n

The conference was first announced in early November. It was scheduled for May 11 to May 13 in Los Angeles. <\/p>\n

However, Rose explained in a Feb. 20 letter to ticket holders that it wasn\u2019t \u201cthe right time\u201d for the conference:<\/p>\n

\u201cAs you know, in the world of NFTs, timing is everything. And today, it\u2019s time for us to recognize that right now isn\u2019t the right time for the PROOF of Conference.\u201d<\/p><\/blockquote>\n

Rose explained that he and his Proof team considered alternatives, such as opting for a smaller venue in Los Angeles, reducing the scope of the event and lowering ticket prices. <\/p>\n

But ultimately, it was best to cancel the whole event, he said. <\/p>\n

\u201cAfter several weeks of sales data, speaking with potential sponsors, and talking to community members, it’s clear that there is considerably less interest than anticipated for an event like this right now.\u201d<\/p><\/blockquote>\n

Rose confirmed that the company is processing Ether (ETH) refunds and that Proof has a claim page for people to submit non-refundable flight cancellations.<\/p>\n

Kevin Rose and the Proof team\u2019s message regarding the cancellation of PROOF of Conference. <\/em>Source. Proof.<\/em><\/figcaption><\/figure>\n

The event would feature Michael \u201cBeeple\u201d Winkelmann \u2014 the artist behind the famous NFT that sold for $69 million in March 2021 \u2014 Reddit co-founder Alexis Ohanian;\u00a0Greg Solano and Wylie Aronow of Yuga Labs; and NFT entrepreneur Gary Vaynerchuk \u2014 among others. <\/p>\n

The announcement comes despite the NFT market soaring in recent months, with January seeing an eight-month high in monthly NFT trading volumes above $1 billion.<\/p>\n

Artist paid $150K for Bitcoin wizard meme on Ordinals<\/h3>\n

The emergence of NFT-like \u201cOrdinals\u201d on Bitcoin over the last month has brought a series of meme images to the network of late, including a famous Bitcoin wizard meme that first made rounds on the Bitcoin subreddit in 2013.<\/p>\n

Thanks to Ordinals, the meme artist known as \u201cMavensbot\u201d has just received 6 Bitcoin (BTC) \u2014 worth $150,000 at current prices for his iconic work. <\/p>\n

This was made possible after blockchain research analyst Udi Wertheimer and meme-inspired Bitcoin community Taproot Wizard inscribed the wizard meme on Bitcoin to not only \u201ccelebrate the 10-year anniversary of his art\u201d but reel in some cash for the creator of the meme, \u201cMavensbot,\u201d according to Wertheimer:<\/p>\n

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Short story about how we got NFT mfers to support a historic bitcoin artist with $150,000 via lightning payments, and how bitcoin maxis HATE us for it.<\/p>\n

(I know it\u2019s a long tweet but it\u2019s a good story)<\/p>\n

Mavensbot (on top in the screenshot below) is the creator of the famous 2013\u2026 https:\/\/t.co\/kPd9IlCaWs pic.twitter.com\/wGTegIiDM4<\/a><\/p>\n

\u2014 Udi Wertheimer \u200d\u2642\ufe0f (@udiWertheimer) February 21, 2023<\/a><\/p><\/blockquote>\n

Within the first three hours alone, 6 BTC were sent from \u201cNFT enjoyers\u201d to Mavensbot via the Lightning Network. <\/p>\n

\u201cWatching this made me really happy. The NFT community that I admire, using the Bitcoin asset and Lightning Network that I believe in, to support an artist whose work means so much to me.\u201d<\/p><\/blockquote>\n

\u201cYou love to see it,\u201d he added.<\/p>\n

Taproot Wizards is part of a movement that wants to \u201cmake Bitcoin magical again\u201d with magic internet JPEGs inscribed forever on the Bitcoin blockchain.<\/p>\n

However, Wertheimer highlighted that not everyone is on board with the whole Ordinals concept \u2014 particularly the \u201cBitcoin maximialists.\u201d<\/p>\n

But Wertheimer doubled down, demanding Bitcoin maximalists not to take everything seriously:<\/p>\n

\u201cIt\u2019s time to go back to the spirit of the 2013 Bitcoin wizard. Playfulness, experimentation, innovation. Not taking ourselves so god damn seriously all the time. HAVING FUN, for Satoshi\u2019s sake. I truly believe that with ordinals we finally have a chance to do this.\u201d<\/p><\/blockquote>\n

Australian cocktail bar launches NFT membership program<\/h3>\n

Australian cocktail and NFT connoisseurs have a new venue in Sydney to haunt \u2014 one that allows holders of its NFTs access to additional privileges at the bar.<\/p>\n

The Sydney-based cocktail bar, Bar Lulu, launched on Feb. 21, along with an NFT members club bar named Cryptolulu.<\/p>\n

Based in Sydney, patrons must buy the NFT member club bar on NFT marketplace OpenSea on the Ethereum network to access certain privileges.<\/p>\n

NFT Artist Credit: Arturo Rodriguez and Mark Monfort. Source: Bar Lulu.<\/em><\/figcaption><\/figure>\n

There are three tokens that can be purchased \u2014 Jia Lulu, Joo Lulu and Ryuu Lulu.<\/p>\n

Each NFT represents a different tier to their membership which will unlock unique and\u00a0incremental rewards, priorities and benefits.<\/p>\n

Tokenholders can attend various Web3 networking events and educational sessions and be granted access to exclusive private lounges and dinners, among other things. <\/p>\n

Bar Lulu claims the NFT membership program to be an Australian first. <\/p>\n

The bar added that the launch comes on the back of months of seeing how similar experimentations worked out overseas in the hospitality sector. <\/p>\n

Former Amazon exec launches Yelp-like platform to review NFTs<\/h3>\n

A former Amazon and Starbucks executive, Ben Straley, has launched NFT startup, \u201cThred,\u201d which aims to be the Yelp, Tripadvisor or Zillow of the NFT industry. <\/p>\n

The NFT-focused startup launched Feb. 16 and will help users discover NFT collectibles and review them, according to a report from TechCrunch. <\/p>\n

A screenshot of the current Thred homepage. Source: <\/em>Thred.<\/em><\/figcaption><\/figure>\n

Straley\u2019s move into the NFT space comes from 25 years in digital product and customer experience leadership roles.<\/p>\n

Thred\u2019s platform will combine automated machine learning and algorithms to rank NFTs on the Ethereum and Polygon networks. <\/p>\n

It will help potential buyers better understand the collections’ significance and\u00a0help distinguish which NFTs are legitimate. <\/p>\n

Other Nifty News<\/h3>\n

One month into the \u201cOrdinals\u201d mania on Bitcoin, a protocol fork has made\u00a0Ordinals possible on the Litecoin network. Australian software engineer Anthony Guerrera said it was \u201cquite simple\u201d and that he was motivated to make the fork due to a 22 Litecoin (LTC) bounty. <\/p>\n

Real Vision co-founder and CEO Raoul Pal stated on Feb. 20 that NFTs will act similarly to high-end property in the traditional economy and potentially outperform ETH during bull markets.<\/p>\n

The former JPMorgan executive explained that NFT collections, such as CryptoPunks and the Bored Ape Yacht Club (BAYC), had become status symbols, much like luxury cars and houses, and he expects that trend to continue.<\/p>\n<\/div>\n