A version of this article first appeared in The Now, our free newsletter on what matters in culture, crypto, and innovation. Subscribe today to receive it straight to your inbox.

In today’s edition, we’re taking you out to Las Vegas for ApeFest and ComplexCon, where Yuga Labs reminded everyone it still knows how to throw a show.

The weekend felt like a time capsule of Web3’s evolution: somewhere between a reunion, a revival, and a test of whether NFT brands can still move culture in 2025. Here are five observations from the frontlines.

“This is the first Apefest where @apecoin is free

Free from the regulatory bullshit

Free from the red tape

Free to aggressively pursue making ApeCoin more valuable”

– @HeadofApe at Apefest 2025 🦍 pic.twitter.com/doxbxucarq
— Now Media (@nowmedia) October 25, 2025

Yuga Pulled Out All the Stops

During a series of tightly coordinated keynotes, Yuga Labs unveiled a flurry of major announcements outlining its next chapter across Bored Ape Yacht Club, Otherside, and ApeCoin.

Among them was the reveal of the Koda Nexus, a new social hub for metaverse game Otherside, launching November 12. The announcement came alongside a partnership with Amazon Gaming, which will feature Otherside on Amazon’s front page and introduce an exclusive “Boximus” Voyager available through the new store. Yuga also revealed a 300-piece Daniel Arsham Voyager collection, blending digital art and interactive identity.

Beyond the metaverse, Yuga is opening the long-awaited Miami clubhouse for the BAYC community. ApeCoin is expanding to Coinbase’s Base chain and shifting toward a deflationary model aimed at supporting long-term value. It unveiled ApePay, a new IRL payments platform built with Privy to make $APE easier to use in everyday transactions. The weekend also brought news of a major investment from billionaire Adam Weitsman, now one of ApeCoin’s largest individual holders.

Following the announcements, guests were treated to performances from Outkast’s Big Boi, Clipse, Kodak Black, Justin Blau, and more. All in all, the Yuga team delivered, executing an ambitious event that didn’t underwhelm its attendees. That’s no small feat for any Web3 project in 2025, no matter how large the treasury.

Out here at @ComplexCon @BoredApeYC booth had a 2 hour line before doors even opened 👀 pic.twitter.com/pxQPYgkBcx
— Now Media (@nowmedia) October 25, 2025

BAYC’s ComplexCon Booth Was a Hit

If ApeFest was for the NFT holders, ComplexCon was for the normies. BAYC’s activation drew constant crowds with prime real estate and a gacha-style machine handing out exclusive merch and limited-edition collabs. There wasn’t a single NFT image in sight, replaced by Supreme-style branding and showcases of streetwear collabs with the likes of John Geiger, Jae Tips, and Sean Wotherspoon.

“If ApeFest was for the NFT holders, ComplexCon was for the normies.”
MATT MEDVED

A two-hour line wrapped around the perimeter before doors opened, filled with a mix of seasoned Web3 veterans and curious newcomers who had no idea they were engaging with a crypto brand. It was a savvy play for BAYC to expand its lifestyle brand and attract new blood, even if they won’t be shelling out tens of thousands of dollars for a JPEG anytime soon.

Founder-Led Energy Fueled the Weekend

Yuga co-founder Gordon Goner returned after a long health hiatus and was an absolute trooper, spending hours taking photos and chatting with holders. His unannounced presence electrified the BAYC community and brought a sense of nostalgia and gratitude to the gathering.

Earlier in the evening, Yuga co-founder and CEO Garga headlined the keynotes, following talks from Yuga product head Michael Figge and ApeCo CEO Cameron Kates. The program marked a new chapter for Yuga with a renewed focus on its core brands after divesting the CryptoPunks, Meebits, and Moonbirds IP. Together, the trio set the stage for Yuga’s next phase and reignited excitement among holders.

Garga and co. also showed up across a series of official and unofficial side events, including an Otherside Live gaming showcase with OpenSea and the Bored Ape Poker Classic at the Venetian. The atmosphere felt like a callback to BAYC’s early days, a return to the grassroots energy that built the community before the gaming execs and VCs arrived.

At ApeFest, @mfigge revealed @OthersideMeta’s next chapter

– A major @AMZNVideoGames collab on Boximus, a limited Voyager launching 10/30

– A digital collectible series with @DanielArsham

– OtherdeedStrategy launching with @token_works today

– Koda Nexus launching 11/12 pic.twitter.com/k4XeXr3HRW
— Now Media (@nowmedia) October 25, 2025

Hype Doesn’t Move Floors Anymore

Despite the weekend’s avalanche of announcements and plenty of optimism on the timeline, the BAYC floor actually fell below 7 ETH. In 2025, only speculation and airdrop anticipation seem to move prices in this attention-deficit market. Sentiment alone doesn’t cut it. What really drives movement now is liquidity and a convincing narrative that there’s quick money to be made. While the weekend’s announcements were impressive by any measure, none of the news fit that bill.

After already airdropping $APE and secondary collections like Mutants and Kennel Club during the last cycle, there are no short-term price catalysts left to spark a rally. That may not be what 2021 bagholders want to hear, but it’s clear Yuga Labs is focused on building a more sustainable ecosystem rather than chasing fleeting market reactions.

This is how we build pic.twitter.com/McXEzyM4IT
— Sergito ❚ ❚ (@sergitosergito) October 25, 2025

NFT Culture Isn’t Dead, Just Different

Aside from BAYC, ComplexCon still featured a solid Web3 presence, with activations from Meebits x The Hundreds, Moonbirds x Outsiders, Mad Dog Jones, and FEWOCiOUS x Defaced drawing steady foot traffic.

Interestingly, the two other Web3 projects activating this year are both under new leadership after being sold by Yuga Labs. Meebits hosted a private brunch and helicopter ride for holders, and sold out of their The Hundreds hoodie collab at their ComplexCon booth. Moonbirds, meanwhile, debuted their new “Birb” branding ahead of their token launch and showcased collaborations with Outsiders, featuring 1/1 handmade leather jackets and shirts.

When I was last at ComplexCon in 2021, NFTs were the hot new thing commanding headlines and curiosity. This year, they felt more integrated, less of a spectacle, and more of a backend medium embedded in creative culture. That’s progress, even if market prices don’t reflect it.

Popped by @moonbirds x @weareuprisers booth at @ComplexCon

Feeling birbish 🦉 pic.twitter.com/ZSryCwO9Fl
— Now Media (@nowmedia) October 26, 2025