The BAYC collection has become limited
Yuga Labs, which produces the popular NFT BAYC collection, has introduced restrictions on the issuance of non-fungible tokens.
Today, the developers have withdrawn the smart contract that allowed the release of an unlimited number of Bored Ape NFTs. Thus, the creators of the collection have fulfilled their promise made a year ago.
According to one of the founders of the project, it was not possible to do this earlier for security reasons. But now the contract is destroyed. As evidence, a transaction was cited, with the help of which the possibility of an endless emission of tokens was removed.
The contract owner has now been burned. While we’d been meaning to do this for a long time, we hadn't out of an abundance of caution. Felt comfortable doing it now. All done.— EmperorTomatoKetchup (@TomatoBAYC) June 7, 2022
In lay terms: The issue flagged in this article is now impossible.
The reason why Yuga Labs did this is not only because of the potential increase in the cost of NFTs due to limited issuance. In the event of a hack, the scammers could print as many NFTs as they wanted, crashing the market.
To date, the minimum NFT price of this collection on the OpenSea marketplace is 69.69 ETH, while the maximum price exceeds 18.88 thousand ETH.
Recall that we previously wrote about the hacking of the Discord project and the theft of NFTs from users.
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