Yuga Labs, creator of Bored Ape Yacht Club, today confirmed the cause of the eye issues reported by attendees of its signature event last weekend — and said it is “committed to supporting the recovery of anyone affected.”
Yuga Labs said in a post on BAYC’s X account that it began to receive reports on Sunday from some ApeFest participants and staff members that they experienced eye pain, vision issues or skin irritation after attending the Saturday night event.
The NFT collection creator said it had conducted a thorough investigation and that it determined, alongside the event organizer Jack Morton Worldwide, that UV-A emitting lights installed in one corner of the event were likely the cause of the reported issues related to attendees’ eyes and skin.
“Community is the heart of Yuga and the purpose of ApeFest is to bring the community together IRL,” Yuga Labs said. “We are saddened that this incident has detracted from the experience of ApeFest attendees.”
Navigating downturns
The incident came with Yuga Labs navigating a significant downturn in the NFT market. Last month, Yuga Labs announced a company restructuring and layoffs and saw its quarterly royalty revenue plummet to $2.5 million in the third quarter of this year — compared to $8.7 million during the first quarter.
The BAYC collection’s floor price fell 55.6% from the beginning of this year to 30.86 ETH ($59,200), according to NFT Price Floor data. The floor price of the Mutant Ape Yacht Club, another Yuga collection, fell 62.8% during the same period to 5.77 ETH, the data showed.
Source: The Block
