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Proof collective cancels conference, raising concerns among Moonbirds NFT holders

Proof collective cancels conference, raising concerns among Moonbirds NFT holders

Several Moonbirds holders do not accept Proof CEO Kevin Rose’s apologies as they unstake their NFTs in response to the event’s cancellation.

According to the event’s website, the Proof Collective’s Proof of Conference event scheduled for May was canceled due to “considerably less interest than anticipated.”

Proof is a Web3 project created by Digg co-founder Kevin Rose. It’s the collective behind Moonbirds. According to CoinGecko data, Moonbirds is the tenth largest Ethereum NFT project by market cap in the space.

“As you know, in the world of NFTs, timing is everything,” the note from Proof Founder Kevin Rose and his team reads. “Today, it’s time for us to recognize that right now isn’t the right time for the Proof of Conference.”

The post says that people who bought tickets will get their money back “within the next few hours,” but traders will keep the receipt NFT for the event that was canceled. Proof also says that hotels booked with its discounts will be fully refundable, and that if you need to cancel a flight and have to pay a fee, you can ask Proof for a refund.

“Any other expense requests will be assessed on a case-by-case basis,” Proof’s websit reads. Rose also said in a Discord post that on March 2 there will be a more “holistic” update on the future of Proof and its Ethereum NFT collection Moonbirds. “This is our year of focus and execution,” Rose wrote.

Monday, the Moonbirds team held a “town hall” meeting for holders only on a Discord server. Members of the meeting say it didn’t give them much clarity or comfort. Kayal said that the Proof team told its listeners that only about a hundred people booked hotels through Proof’s links. This made the Web3 firm think that there wasn’t enough interest in the conference, even though other people may have booked rooms elsewhere.

Angry Birds

Many in the Moonbirds community no longer trust what the team says or plans to do. In response to the news, some NFT traders said they were going to sell their Moonbird NFTs.

“Yeah I’m out just looking for a reasonable exit on my bird,” Kayal explained in a post.

While some Moonbird holders may be looking a quick exit, evidence indicates that there has not yet been a significant rush to sell. According to Proof’s “nesting” data, which counts the total number of locked-up NFTs in the collection, only 51 Moonbird holders unstaked their NFTs after the news was released.

In a two-hour period, 47 NFTs were unstaked and four were staked or “nested”; the overall number of “nesting” NFTs decreased from 9,141 to 9,094. The owner of a Staked Bird gets a reward for locking up their NFT and “hodling” the asset.

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