Fans of the Bored Ape Yacht Club should be aware of some unpleasant news. According to a heated conversation on LinkedIn, the NFT collection has no upper limit. A contract function provides an endless supply of 30 additional Apes in one move.
The conversation drew the attention of industry professionals, including Chainfrog CEO and founder Keir Finlow-Bates, who validated the accusation.
“Adding new tokens to the contract’s list would result in thirty bored apes with no metadata and no corresponding photos to see on NFT platforms like OpenSea.” Because all of the data is stored on the IPFS.
Except that a new IPFS folder containing the original 10000 ape metadata and picture files, as well as 30 more, could be pinned in the IPFS, and the setURI() function could be used to point to that new folder,” he explains.
BAYC is one of the most well-known NFT compilations. The project’s popularity has risen as celebrities rush to join the pricey trend in recent months. The owner of the BAYC contract, who is still active, can mint additional Apes and profit from the project’s expansion.
This, however, will be a source of anxiety for holders, as the value of an NFT collection is mainly determined by its scarcity. This is not the first time the topic has come up on social media. Earlier in 2021, a Twitter user expressed the same skepticism.
i really would like to get one but i'm afraid i will get rugged by the owner who can mint infinitely more (30 at a time) with the reserveApes() function. have you looked into the contract? maybe i'm not getting something. would appreciate an answer/comment
— Matthias (@N3R01N) June 8, 2021
A Utah-based software engineer, Ethan Hunsaker, sheds light on a similar issue in Doodles’ contract.
It will be fascinating to observe how the projects resolve the’error.’ Or whether they will do it at all.
“Definitely appears to be a legitimate issue to me, and while they could solve it (by setting the owner address to the burn wallet), the fact that they haven’t makes me think it’s an error they’re hoping goes unnoticed,” writes Dan T, the post’s author.
