ApeFest 2023: Bored Ape Yacht Club’s Big Event Sets Sights on Hong Kong
Summary: Yuga Labs, parent company of Bored Ape Yacht Club, is reviving ApeFest 2023 in Hong Kong from November 3 to November 5. The event aims to revive the Ape community's faith in the company and the excitement surrounding hosting the industry's historic PFP. ApeFest will no longer be affiliated with NFT.NYC and will seek new venues and cultural partnerships.
Bored Ape Yacht Club (BAYC)’s parent firm, Yuga Labs, has announced that its big in-person event, ApeFest 2023, will be in Hong Kong from November 3 to November 5.
Rekindling Ape Community’s Faith
Despite the overall NFT market downturn, which also saw a decline in the value of the BAYC and Mutant Ape Yacht Club (MAYC) collections, ApeFest’s return aims to rekindle the Ape community’s faith in the company and the excitement surrounding hosting the industry’s historic PFP, which has been at the fore of a new form of social and cultural identity and expression.
Adapting to Audience’s Needs
Yuga and BAYC are adapting to the changing needs of their audience by expanding their three-day musical extravaganza into a more comprehensive convention. To start, ApeFest will no longer be affiliated with NFT.NYC and will instead seek out fresh venues and cultural partnerships.
The ApeFest website states that this year’s Hong Kong festival will not focus on music in the same way that last year’s New York City festival did during NFT.NYC. Instead, the festival will be a “new adventure” that encourages attendees to discover the city’s hidden gems and make the festival accessible to those who cannot physically attend.
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Even if all apes are admitted free of charge using the tokenproof app, admission is still restricted to BAYC and MAYC holders and their guests. The group has instituted a refundable fee that will be repaid after a ticket holder is scanned in order to protect tickets for those apes who can come in person.
Indeed, both Yuga Labs and BAYC have promising futures as they want to grow from a niche NFT group into a mainstream cultural phenomena and convention system.