Yuga Labs, the NFT market leader and owner of major NFT projects such as BAYC, MAYC, Otherside metaverse, Meebits, CryptoPunks, has suspended ticket sales for ApeFest just a few hours after the start. Tentatively, ticket sales will continue next week. The entire community is shocked and concerned about the disruption from the main player in the NFT market. Some buyers on Twitter are discouraged by the technical ineptitude, which resulted in BAYC NFT holders being charged $169 for a deposit, but registration failed. Will everything be restored without loss to the event and the community?
Due to the number of Apes who cannot enter the ApeFest ticketing queue, we will be pausing ticket claim until next week. @tokenproof is actively working on a fix and we will provide a 48-hour heads-up before tickets go live.
— Bored Ape Yacht Club (@BoredApeYC) July 27, 2023
Such an unprecedented event occurred at the start of ticket sales for the largest NFT festival in space due to technical reasons. To receive a ticket, the owner of BAYC and MAYC must stand in a virtual queue and authenticate on the official website. The fact is that the number of tickets on ApeFest 2023 in reality is less than the number of all members of the community. Because of this, there was a massive influx of people who wanted to be the first to queue up to receive their guaranteed ticket. Given the many years of experience of the organizers, this moment should have been taken into account when organizing sales, which is now the subject of discussions in Twitter spaces.
What is ApeFest 2023?
ApeFest is the largest NFT event organized for the third year in a row by Yuga Labs for the BAYC and MAYC community. Previously, the festival had a more musical format and was held as part of NFT.NYC. But this year’s ApeFest, which will take place from November 3rd to 5th in Hong Kong, will be completely self-contained and will introduce a completely new format to all participants.
Yuga Labs promise events throughout Hong Kong. And for those who cannot be present in person in Hong Kong, a virtual participation format will be organized. The rest of the information is kept secret by the organizers, thereby fueling the interest of the community.
How to get to ApeFest 2023?
Only owners of the above NFTs can enter the NFT festival. For them, admission is free, plus they can take one guest with them, for which they need to purchase a ticket for $ 269.
With electronic registration, which has now started (though not successfully), each owner must:
- Verify ownership of the token using the partner application Tokenproof,
- Make a deposit of $169 (which is returned after scanning on the first day),
- Get an e-ticket,
- At the IRL event, show the ticket in the Tokenproof app. This method minimizes fraud.