Monday, 27 March 2023

Crypto News

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

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

‘Less interest than anticipated’ — PROOF cancels NFT event

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

The conference was first announced in early November. It was scheduled to run on May. 11 to May. 13 in Los Angeles.

However, Rose explained in a Feb. 20 letter to ticket holders that it wasn’t “the right time” for the conference:

“As you know, in the world of NFTs, timing is everything. And today, it’s time for us to recognize that right now isn’t the right time for the PROOF of Conference.”

Rose explained that he and his PROOF team considered alternatives, such as opting for a new location to Los Angeles — where it was set to be held — a smaller venue, reducing the scope of the event and lowering ticket prices.

But ultimately, it was best to cancel the whole event, he said.

“After 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.”

Rose confirmed that Ether (ETH) refunds are being processed right now and that PROOF has a claim page for people to submit non-refundable flight cancellations.

Kevin Rose and the PROOF team’s message regarding the cancellation of PROOF of Conference. Source. PROOF.

The event was going 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 Wylie Aronow of Yuga Labs and NFT entrepreneur Gary Vaynerchuk, among others.

The announcement comes despite the NFT market soaring in recent months, with the month of January in particular seeing an eight-month high in monthly NFT trading volumes above $1 billion.

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