Bored Apes owner draws 2,000 NFT enthusiasts to Hong Kong for first international ApeFest in win for local Web3 push

The first ApeFest outside New York drew thousands of people from 60 countries, with support from the Hong Kong government, according to Yuga Labs

As the company bets on Asia amid slumping revenue, Yuga landed on Hong Kong, where ‘important families’ own Bored Ape NFTs

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The ApeFest DJ poses at the end of his set on the main stage on November 4. Photo: Matt Haldane

Published: 10:00pm, 6 Nov 2023Updated: 4:49pm, 8 Nov 2023

Thousands of Bored Ape Yacht Club owners descended on Hong Kong to attend Yuga Labs’ first international ApeFest for three days of bacchanalia over the weekend, offering signs of life for the city’s non-fungible token (NFT) market days after local officials had touted new tokenisation efforts.

More than 2,000 people from 60 countries attended the third annual ApeFest – the first to take place outside New York – according to Yuga Labs, the company that manages what is perhaps the most recognisable NFT brand in the world.

This year’s bid to raise Bored Apes’ profile turned eastward just a few months ago, according to Yuga Labs CEO Daniel Alegre, when the company dropped plans for a Las Vegas ApeFest to offer something to its Asia community.

“We had very strong holders, very influential holders [in Asia]. Some of the most important families here in Hong Kong own Apes,” Alegre told the Post in an interview on the sidelines of the main event on Saturday at the Kai Tak Cruise Terminal. “It was time for us to do something in Asia.”