No Laughing Matter was a virtual representation of one of Ezio Auditore da Firenze's genetic memories, relived by Desmond Miles in 2012 through the Animus.
Ezio Auditore received a contract from Lorenzo de' Medici to assassinate several of Francesco Salviati's fellow conspirators who were hiding in Venice during the Carnevale, posing as minstrels.
Ezio made his way to the destination and assassinated each of his targets, completing the contract.
Ezio assassinating the first conspirator
Ezio assassinating the second conspirator
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Ezio assassinating the third conspirator