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ApeFest Causes Skin Issues, Yuga Labs Faces Legal Actions 

Bored Ape Yacht Club, a popular meme coin, conducted ApeFest in Hong Kong from 3 to 5 November. It was a musical event that aimed to gather the supporters of BAYC or the meme coin community. It was supposed to lift the spirits of crypto lovers and probably incite them to buy BAYC coins. But the sudden turn of events put Yuga Labs, the parent company of BAYC in a fix. 

Unexpected Aftermath of ApeFest

The matter came to light when several attendees complained about skin, eye, and vision problems after the event. Many of them showed symptoms of photokeratitis, a condition caused by exposure to UV light. The reported ailments included burning eyes, blurred vision, and skin-related issues. One attendee claimed that his eye issues continued for more than 30 hours after the event. 

Responding to the complaints, BAYC shared an X (formerly Twitter) post that acknowledged all the concerns. The post said that Yuga Labs has received complaints about ApeFest attendees experiencing a myriad of health issues. It also confirmed all these problems happened due to UV-A emitting lights installed in one corner of the event. The knowledge of ultraviolet rays causing skin damage is quite ubiquitous.

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Besides short-term skin issues, it can cause cancer as per the World Health Organization. The instance of using such lights in a public event does show the lack of ignorance. However, it is yet to be seen if someone will be held responsible for it or not. In the meantime, Yuga Labs has initiated damage control. It announced that the company had collaborated with Jack Morton to investigate the matter. 

According to one media report, one attendee has served a legal notice to Yuga Labs. Notably, that attendee is the founder of art-tech and NFT company Artfi. On the other hand, the company said that it’s trying to reach as many affected people as possible. In the X post, it asked the affected people to come forward and seek medical attention.

Other Matters That Concern Yuga Labs

Yuga Labs is facing issues on other fronts too. The company recently laid off a portion of its staff in October citing a strategy change. Furthermore, its social media head quit due to racist and antisemitic posts of late. After the event, BAYC prices slumped from 30 Ether to 28 Ether.  But that may be a lesser worry right now. At the moment, It’s trying to handle the complaints to avoid any ramifications in the future. 

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What Can Crypto Firms Do To Avoid Such Instances?

It should be noted that ApeFest was a free event. The company didn’t charge a penny from the attendees. It was conducted to boost the popularity and visibility of BAYC. In the future, the crypto community can expect many such events. After all, they succeed in fetching the crowd and giving firms a chance to shine. 

Incidents like these are unexpected but companies can still be prepared for it. Hence, the organizers can analyze the security and other factors. They can also work closely with the local authorities to avoid any mishaps. Hopefully, this incident will serve as a precedent for the future.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.