Yuga Labs announced they will use the TokenProof App for ApeFest 2022. The app will help the BAYC creators with ticketing and token-gating during their long-awaited festival on June 20-23.
What You Need to Know About ApeFest
Yuga Labs held its first ApeFest last year and it turned out to be one of the most successful IRL events that occurred for NFT holders. The initial BAYC festival brought joy to Bored Ape Yacht Club members as they gathered in huge numbers. There was an immersive gallery experience, a costume contest, and even a yacht party!
Yuga Labs moved the date of ApeFest 2022 to coincide with NFT.NYC and everyone is excited to see what the festival has in store. Due to last year’s turnout, organizers anticipate a bigger crowd this year.
Yuga Labs Uses TokenProof for Ticketing and Token-Gating
Token-gate means gated activities and events connected with a specific NFT community. Verifiers make a particular rule for a token-gate. For instance, in the case of ApeFest, you need to hold a BAYC/MAYC NFT to join the festival.
To help Yuga securely verify ownership of attendees and distribute tickets for the event this year, they are employing the help of Tokenproof.
Tokenproof specializes in safe token-gating solutions. Through their app, NFT holders can carry a proof of ownership token linked to both their Ethereum account and their mobile device. After enrolling, they can authenticate ownership of their NFTs and other assets.
In a Twitter post, Yuga Labs said, “The @tokenproof app will be the only way to get tickets for and to enter ApeFest at Pier 17.”
On the same thread, they asked interested participants to enroll their wallet holding a BAYC or MAYC NFT to Tokenproof before the event. At the same time, assured them that there are no transaction or gas fees, and they are not giving anyone permission to make transactions by enrolling their wallets.
Lastly, Yuga reminded holders they need to have their BAYC/MAYC token in the wallet they used for Tokenproof enrollment during the event. Moving it out of the wallet will invalidate it for ticketing, the post said.