Yuga Labs, the organization behind Bored Ape Yacht Club, has identified the cause of reported eye problems at its signature event, ApeFest. The company is working on supporting the affected attendees.

What Happened: The Block reported that Yuga Labs started getting reports from ApeFest participants and staff about experiencing eye pain, vision problems, and skin irritation after the event on Saturday night.

In a Bored Ape Yacht Club’s X account post, Yuga Labs pinpointed UV-A emitting lights installed at the event as the probable cause of these eye problems. This conclusion was derived from a comprehensive investigation conducted by Yuga Labs and Jack Morton Worldwide, the event organizer.

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The incident happened during a significant downturn in Yuga Labs’ NFT market. The company recently announced a restructuring and layoffs, along with a decrease in quarterly royalty revenue to $2.5 million in the third quarter of 2023 from $8.7 million in the first quarter. The Bored Ape Yacht Club collection’s floor price also dropped 55.6% to 30.86 ETH ($59,200), while the Mutant Ape Yacht Club collection saw a similar 62.8% decrease to 5.77 ETH.

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Bored Ape. Image Via Shutterstock