"FREE FOOD AND DRINK INSIDE." A BOUNCER TEASES THE CROWD WAITING TO ENTER NEW YORK'S PIER 17, A CONCERT VENUE IN MANHATTAN'S SEAPORT. "BUT THERE ARE NO BATHROOMS." THOUSANDS OF PEOPLE HAVE GATHERED HERE FOR THE FOURTH AND FINAL NIGHT OF APEFEST, A PARTY FOR MEMBERS OF THE BORED APE YACHT CLUB (BAYC) AND THEIR INVITED FRIENDS. HE WAITS FOR A BEAT, THEN LAUGHS. "NAH ... I'M JUST FUCKING WITH YOU."
Yuga Labs, the company that conceived of the collection of 10,000 cartoon ape avatars that unlock membership to BAYC, would never forget the bathrooms. The backstory that members bought into when they purchased their digital apes was that these primates congregate in the bathroom of a seedy yacht club-set in a swamp in the middle of nowhere-to scrawl irreverent jokes and shit-talk as the only relief from the boredom of their expensive, cryptofueled lifestyles. Members who got in early paid less than $250 in cryptocurrency for the NFT (nonfungible token) that gave them their ape avatar. If they joined at the peak last spring, just a couple of months before Apefest, they may have paid more than $400,000 to be here. (Fast Company attended as a guest of an ape holder.)
This story is from the November 2022 edition of Fast Company.
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This story is from the November 2022 edition of Fast Company.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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