Help to understand the meaning of the words please?

My friend Doug and I hit Bushwick and Williamsburg. Everyone at the bar at Roberta's restaurant wants a piece of me. "Ah, future!" a German man cries. "We saw you have the Google," a girl from a group of visiting Atlantans drawls. "Can we try it awn?" And then, without warning, I'm talking to young people. We're all squealing, full of childish zeal. We're rubbing up to the future, hearing the first gramophone playing scratchily in the distance. Doug knows a movie producer who recently got Glass and said, "This is as close as I'll ever get to being a rock star." When the VELVET-ROPE hostess at the OF-THE-MOMENT Wythe Hotel bar in Williamsburg stops to take a photo of me with her iPhone, I know exactly what the producer meant

I have came across this sentences and the problem was to explain what these words mean.
Just because I have found velvet-rope only as a separate noun or a verb. But I suppose it should be an attribute in this case.
And of-the-moment is braincrashing.

Please, would you explain these two words?

Many writers play with the language. I guess we native speakers are used to figuring out what the writer is saying even when it's a new word or phrase that we've never seen before.

"Of-the-moment" here is implying that it is a very fashionable place. Not just this year, but RIGHT NOW it is the latest fashion. It also implies that it will be out of fashion soon (since it is only in fashion for the moment). A common joke on this idea of being fashionable but only a few seconds is to say things like "oh, that's so last week".

"Velvet-rope" is conveying that same idea. Exclusive places that are hard to get into will have the entrance roped off with a velvet rope, and some guardian -- a bouncer in a club, or in this case a hostess -- deciding who to let past the rope.