Yuga laboratories, creator of Bored Ape Yacht Club, today confirmed the cause of the eye problems reported by participants in the signature event last weekend – and said it is “committed to supporting the recovery of everyone affected.”
Yuga Labs said in a after on BAYC’s
The creator of the NFT collection said it had conducted a thorough investigation and, along with event organizer Jack Morton Worldwide, had determined that UV-A emitting lights installed in a corner of the event were likely the cause of the reported problems involving visitors’ eyes and skin.
“Community is the heart of Yuga and the goal of ApeFest is to bring the community together IRL,” said Yuga Labs. “We are saddened that this incident has detracted from the experience of ApeFest attendees.”
Navigating through setbacks
The incident came as Yuga Labs faced a significant downturn in the NFT market. Last month, Yuga Labs one announced restructuring and layoffs of companies and saw it Quarterly royalty income drops to $2.5 million in the third quarter of this year – compared to $8.7 million in the first quarter.
The floor price of the BAYC collection fell 55.6% to 30.86 ETH ($59,200) at the beginning of this year, according to NFT Price Floor Data. The floor price of the Mutant Ape Yacht Club, another Yuga collection, fell 62.8% to 5.77 ETH during the same period, the facts showed.