
- Kevin Rose has confirmed that the 2023 PROOF of Conference will no longer take place.
- Moonbirds NFT holders are selling their digital assets in light of the event.
- The price of the Moonbirds NFT collection has plummeted in the last 24 hours.
A flock of Moonbirds NFT holders and community members have been upset that the anticipated PROOF of Conference 2023 has been canceled.
On February 20th, 2023, PROOF Collective disclosed that the reasoning behind the PROOF of Conference cancellation was due to โconsiderably less interest than anticipated for.โ
Sponsored
Kevin โKROโ Rose and PROOF Collective have apologized to the community for the disappointment and inconvenience stemming from the controversial cancellation of the NFT conference. The PROOF of Conference creators have further vowed to refund affected community members with Ethereum (ETH) reimbursements for tickets, upgrades, and related transactions.
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. ๐ (details below) https://t.co/tV4ba85648
— KฮVIN RโSE (๐ชน,๐ฆ) (@kevinrose) February 20, 2023
In light of the event, the floor price of Moonbirds has decreased 9.6% to 6.656 ETH in the last 24 hours, according to data from CoinGecko. The collection has fallen from the #2 to the #5 rank by 24-hour trading volume. The market capitalization for the collection has recorded a similar decrease of 9.6% to $108M, leaving the collection with -02% of the total NFT owners.
24-Hour chart for Moonbirds. Source: CoinGecko
The cancellation of the event and the nature of the announcement have sparked FUD amidst the Moonbirds NFT holders and members, who are expressing a spectrum of reactions and commentary.
Some Feathers are Ruffled
Moonbirds was launched in 2022 by Kevin Roseโs PROOF Collective to build connections between NFT collectors, and the PROOF of Conference was set to be a flagship event for the community.ย
According to a statement by PROOF Collective, the Web 3.0 celebration of art, culture, community, and technology was a โmajor liftโ for the community. In its absence, the creators have shared they will be able to โconcentrate on delivering products, art, and connections that benefit all of the Moonbirds and PROOF Collective communities.โ
Appearing displeased, one holder reportedly sold 16 Moonbirds NFTs for a loss of 596 ETH (approximately $978,778) on February 21st, according to CirrusNFT.
Thought you were having a bad day?
— Cirrus (@CirrusNFT) February 20, 2023
Someone just sold 16 Moonbirds for a loss of 596E
They still have a few rares that cost them 850E
At current prices that's a total loss of 1350E or $3.6m using USD purchase prices...and now some annoying Twitter account is tweeting about it pic.twitter.com/cVdNp5ktN8
NFT holder DancingEddie called the occurrence โabsurd,โ questioning the long-term viability of the project when the โcrux pieceโ has been canceled.
Iโm not rushing to floor my moonbird rn
— Eddie ๐บ (@DancingEddie_) February 20, 2023
But this is absurd
What is the long term plan here if the crux piece has been cancelled? pic.twitter.com/GUctujC8DP
Other community members are displaying various reactions on Crypto Twitter, considering the hefty price tag of 1.5 ETH (approximately $2, 452 USD at the time of writing) for a ticket to PROOF of Conference. Some members believeย this was asking a lot from the community, especially in the current market.
Although there is a degree of understanding displayed by some commenters, the โsugary sweet positivityโ is referred to as โStockholm Syndromeโ by Twitter user Astronaught.eth, considering the cancellation of the event.
For anyone not sure what Stockholm Syndrome refers to, I shall point you towards the examples of sugary-sweet positivity emanating from some of our friendly hostages.
— Astronaught.eth (@Astronaught420) February 21, 2023
Tr0m chimed in as a self-proclaimed โexpert in events and throwing them,โ opining that a mass amount of ticket sales would possibly have been purchased at the last minute or on the day of the event. The comment could aim to discredit the creatorsโ main reason for canceling the event despite the inconvenience to the community.
Hey as an expert in events and throwing them I can tell you that 90% of sales happen last minute or week/ day of event FYI
— Tr0m (@Tr0mNFT) February 21, 2023
To appease the backlash, the conference creators have stated that they will host a โholistic PROOF and Moonbirds updateโ on all active initiatives on March 2nd, assuring the community that the occurrence does not mark the permanent cancellation of the events.
On the Flipside
- Community members are prompting the possibility of a virtual or informal event instead of the PROOF conference to utilize travel plans and expenses.ย
- The NFT market on Ethereum has recorded a notable increase in sales in February and is poised to recover from the 2022 bear market lows as mainstream adoption increases into 2023.
Why You Should Care
Moonbirds is a high-volume NFT collection and thus a significant player in the broader ecosystem. The increased negative sentiment from the Moonbirds community could infect a similar FUD in the broader NFT market.
Read more about Kevin Roseโs NFT scam that cost him a pretty penny:
Kevin Rose in Phishing Scam that Claims $1.1M in NFTs
Read more about Moonbirdsโ glory days:
10,000 Pixelated Owl NFT Collection โMoonBirdsโ Generates over $200M in Just Four Days