Several guests who attended the Bored Ape NFT event known as ApeFest in Hong Kong are reporting symptoms of eye discomfort and vision problems. The event was organized by Yuga Labs, a prominent blockchain company, as a celebration of the Bored Ape Yacht Club’s non-fungible tokens (NFTs) collection.
According to Yuga Labs, they have received complaints from at least 15 attendees regarding their eye health after the event. Taking these concerns seriously, the company is actively reaching out to those affected and investigating the root cause of the issues.
Although the total number of affected individuals is relatively small, representing less than 1% of the approximately 2,250 event attendees and staff on Saturday night, Yuga Labs is committed to finding a resolution and ensuring the safety of future events. Until the investigation is complete, they cannot confirm the cause or provide speculations about preventive measures.
ApeFest, as advertised on their website, promised “chill hangs” and “meetups and mayhem.” The event offered special discounts to Bored Ape owners and featured live music along with screens showcasing various Bored Ape NFTs.
Yuga Labs remains fully dedicated to addressing the situation and striving for a safe and enjoyable experience for all future event attendees.
The Impact of Photokeratitis and the Decline of Bored Apes NFT Collection
Photokeratitis: A Painful Condition Caused by UV Light Exposure
One user recently shared their experience of undergoing an extensive and costly six-hour treatment at an eye center to alleviate their pain caused by photokeratitis. This condition occurs when the eyes are exposed to excessive ultraviolet (UV) light, leading to a diagnosis by medical professionals, as stated by the College Of Optometrists.
Thankfully, photokeratitis symptoms usually resolve on their own without causing any permanent damage. According to the information provided on the optometry group’s website, proper recovery can be expected over time.
The Rise and Fall of the Bored Ape Yacht Club NFT Collection
Back in 2021, during the height of the NFT craze, the Bored Ape Yacht Club NFT collection emerged with 10,000 digital art pieces. This project experienced significant attention and even managed to catch the interest of celebrities such as Justin Beiber, Snoop Dogg, and Jimmy Fallon.
However, the prices for the Bored Apes digital collectibles have experienced a drastic decline since the NFT boom. According to data analytics platform CoinGecko, the floor price of Bored Apes NFTs dropped below 28 ETH (approximately $53,000) multiple times over the past few months.
This decline is considerable when compared to its peak in April 2022, with a floor price reaching 153.7 ETH (about $430,000), as reported by CoinGecko.
Factors Contributing to the Decline
Sara Gherghelas, a blockchain analyst at DappRadar, shared her insights with Anushree Dave back in July regarding the Bored Ape project and the overall NFT market. Gherghelas attributed the recent drying up of the Bored Ape project, along with the broader decline in the NFT market, to factors such as the prevailing crypto winter and a decrease in enthusiasm for digital art.
From the archives (2022): Opinion: Don’t dismiss Bored Apes — NFTs could turn out to be a practical platform for sales and smart contracts