Yuga Labs Burns BAYC Contract Owner, Closes Mint Possibilities

Yuga Labs Burns BAYC Contract Owner, Closes Mint Possibilities

The Yuga Labs team has officially shut the door on minting any more Bored Ape Yacht Club NFTs.

Brought to light more than a year ago by Twitter user @dafky2000, a function of the smart contract used to create the Bored Ape NFTs allowed for additional minting of the assets if someone gained control of the Bored Ape deploying address. If maliciously controlled, the contract owner's keys could mint an infinite amount of additional Bored Ape Yacht Club NFTs. 

Initially, the official Bored Ape Yacht Club Twitter account responded that they planned to revoke the ownership of the contract that can call the function that allows for more Apes to be minted. However, a year went by with no change

Recently though, prominent NFT Twitter space personalities such as @0xfoobar began calling out the issue once again and these posts seemed to have drawn the attention of Yuga Labs. 

Earlier this evening @TomatoBAYC, a co-founder of the Bored Ape Yacht Club, announced that the contract owner has been burned.

The burn will live forever on the blockchain in block 14923443.

An earlier critic, 0xFoobar applauded the move. 

More about Bored Ape Yacht Club

Arguably the most successful NFT project, the Bored Ape Yacht Club (BAYC), is a collection of 10,000 uniquely generated bored apes that are stored on the Ethereum blockchain. Launched on April 23, Bored Ape Yacht Club had a mint price of 0.08 ETH and the collection sold out on April 30, 2021. Since its launch, the project has dropped multiple companion collections including Bored Ape Kennel Club, Mutant Ape Yacht Club, and Otherdeed for Otherside, and has helped onboard a number of high profile and celebrity collectors to the NFT ecosystem.

At the time of publish, the Bored Ape Yacht Club floor price sits at 65.99 ETH, and has stayed relatively flat over the past 24 hours on 1676 ETH volume of transactions. Over the last 30 days, 27 sharp wallets have sold 30 NFTs and 29 sharp wallets have bought 29 NFTs in the Bored Ape Yacht Club collection. Catch up on other recent Bored Ape Yacht Club news here.

Recent Bored Ape Yacht Club Sales

#6206sold at 12/09 4:12pm for
69.1
#9953sold at 12/09 2:12pm for
66.0
#9953sold at 12/09 10:12am for
65.5
#2193sold at 12/09 8:12am for
65.4
#4595sold at 12/09 7:12am for
64.5

Recent Bored Ape Yacht Club Listings

#8477listed at 12/09 8:12pm for
114
#6219listed at 12/09 8:12pm for
77.0
#8477listed at 12/09 8:12pm for
114
#8477listed at 12/09 7:12pm for
114
#8477listed at 12/09 7:12pm for
114
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice.
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