When a social gathering of pot smoking enthusiasts engage in the inhalation of a substantially large amount of cannabis in the interest of getting really high. The main goal of the nugfeast is celebrate a momentous event and/or special occasion while facilitating joy, good memories, and the occasional philosophical conversation. The amount of weed smoked is proportional to the amount of individuals partaking in the nugfeast.
Mom: "You slept until 4pm... What did you do last night, darling?"
Stoner: "Jay bought his first bong, so we had a nugfeast to celebrate. We smoked an 8th between the 5 of us."