• The BAYC smart contract mechanism allows a single wallet to mint a limitless number of new Apes

  • NFT developer foobar has drawn attention to a Bored Ape Yacht Club smart contract function that would allow a single, non-multi-sig wallet to create an infinite number of new Apes.

    The contract permits the wallet to mint up to 30 Bored Apes NFT at a time, with no restriction on the number of mints. As long as the wallet can pay the gas fees, it can continue minting Bored Apes indefinitely.

    For nearly a year, Bored Ape has refused to act.

    The matter has been raised previously, but BAYC has yet to take action.

    NonFungibles creator Dan Kelly inquired about BAYC’s plans for the function in 2021. BAYC stated that access will be revoked soon, yet nothing has changed more than a year later.

    The cryptocurrency community responds

    Members of the cryptocurrency community have reacted to the news that more Bored Apes may be minted.

    One user noted that the wallet was remained functioning as of February 3, 2022, demonstrating that the wallet has the ability to “arbitrarily update the metadata connected with any current ape.”

    Another community member took advantage of the chance to tease Yuga Labs, the collection’s parent business, suggesting they would address the matter “the same way they take care of their disputes.”

    Recently, Bored Ape’s Discord channel was hacked, resulting in the loss of millions of NFTs.

    Meanwhile, Bored Apes isn’t the only NFT project that has this capability. Ethan Hunsaker, a software engineer, pointed out a comparable capability in Doodles’ smart contract.

    What effect does this have?

    The majority of the concerns about contract functionalities stem from what might happen if the wallet is compromised. Because scarcity is one of the selling aspects of Bored Apes NFTs, the ability to create an endless number of newer NFTs may have an impact on their value.

    Keir Finlow-Bates, the CEO and founder of Chainfrog, recently remarked that the production of new Apes may reduce the value, but this is not a given. He went on to say that new Apes could become more precious than the originals.

    What's your reaction?