After a year of promises, the developers of the Bored Ape Yacht Club (BAYC) collection have still removed the code that allowed the generation of an infinite number of NFTs on the collection. The co-founder of Yuga Labs, alias EmperorTomatoKetchup, announced this on his Twitter account.
According to him, the studio was in no hurry to remove the code because of “excessive caution.” BAYC developers also provided a code-burning transaction.
To recap, back in June 2021, NonFungibles project head Dan Kelly tweeted that the creators of Bored Ape had left a feature in the project’s smart-contract code that allowed the creation of an infinite number of NFT tokens. Bored Ape representatives responded by saying they would never release additional tokens from the collection. At the same time, Yuga Labs promised to remove the code “in a couple of days.”
At the time of writing, the average market price tag for one non-interchangeable token from the BAYC collection is 95 ETH ($176,700), according to the OpenSea Marketplace. The collection’s total trading volume was 593,500 ETH (~$1.1 billion).