Apefest is the official real-world gathering for owners of the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs, hosted by Yuga Labs. The event became a significant meme topic within the crypto and tech communities due to its portrayal of 'NFT bro' culture, high ticket prices, and surreal party atmospheres. It reached peak meme status following the 2023 Hong Kong event, where several attendees reported eye pain and vision issues due to improper UV lighting on stage. Apefest memes are frequently used to satirize the volatility of the NFT market, the irony of digital assets meeting physical reality, and the 'WAGMI' (We're All Gonna Make It) philosophy during market downturns.