The next update and the long-awaited character wipe are coming! This Tuesday we will be doing both. All inventories will be cleared and all Nether Gold will be returned to you. The game update and character wipe will result in downtime. This is the current planned schedule of possible downtime.
UPDATE/CHARACTER WIPE DOWNTIME
Tuesday, February 4th
9:30 AM-11 AM CST
*Those waiting for the extra gold for launch issues and preordering early access will also be given those rewards around this time. (https://forums.playnether.com/showthread.php?405-Nether-Server-Issues)