BAYC NFT Investor Takes Legal Action Against Yuga Labs Over Serious Authenticity Concerns

Yuga Lab

Asif Kamal, the founder and CEO of Artfi, has taken legal action against Yuga Labs, the producer of the Bored Ape Yacht Club (BAYC). This decision was made after Kamal and several attendees of ApeFest reported issues like eye burns and macular inflammation, which forced them to seek medical assistance at the hospital.

ApeFest, an event organized by Yuga Labs, the 4 billion USD startup behind the Bored Ape Yacht Club (BAYC) and many other popular NFT projects, took place in Hong Kong from November 3rd to 5th, 2023, and led to many attendees experiencing eye-related issues.

Among those affected, Asif Kamal, the founder and CEO of Artfi, shared that many people were diagnosed with injuries such as eye burns and macular inflammation, believed to be caused by intense stage lighting and ultraviolet (UV) rays at the event.

After gathering information for a few hours, Yuga Labs swiftly grasped the details and proactively contacted those affected to investigate the root causes. After a period of investigation, they estimated that around 15 people experienced eye issues, accounting for less than 1% of the total 2,250 event participants. However, Yuga Labs has not taken any actions to appease fans, including the unfortunate victims who attended the event organized by them.

I don’t want the price of Apes, [the BAYC] community, Yuga Labs, or anyone who has supported this Web3 ecosystem to suffer. But neglecting it is something that has offended me so much.

Asif Kamal said

Asif Kamal, in his recent statement about the incident, revealed that he had to visit a hospital in Hong Kong alone as there were not many medical personnel who were proficient in English. He underwent treatment for his injuries, which included rinsing his eyes with a strange solution for hours. The experience left him feeling as if he had been blinded.

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