Tech giant Apple recently unleashed guideline updates that limit user interaction with NFTs in its App Store.
Apple has now blocked apps on its App Store from using nonfungible tokens (NFTs). Based on official reports, the move is meant to discourage NFT buyers and sellers from transacting their business in-app. Notably, Apple wants these businesses to take their activities outside the firm’s purview.
By banning the use of nonfungible tokens on its App Store, Apple is also possibly exempting the digital assets from its App Store’s 30% fee. The guidelines published to the tech giant’s App Store Review indicate that its stance on NFTs is here to stay.
Apple is stating that although nonfungible tokens may exist within apps on the App Store, they may not unlock additional features or content. Part of the published guidelines read:
“Apps may use in-app purchase to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing, and transferring. Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app.”
Furthermore, the California-based multinational tech firm also said:
“Apps may allow users to browse NFT collections owned by others, provided that the apps may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.”
New Guideline Updates Strengthen Apple Stance on App Store NFTs
The updated guideline is the first codified particular set of rules that govern NFTs on the Apple App Store. In the meantime, last month, The Information reported that Apple’s fee policies prevent developers and marketplaces from entering its ecosystem. That has also resulted in such groups doing away with integrating NFTs.
The 30% commission fee Apple now charges for in-app commerce, including NFT-linked transactions, has also come under massive criticism. Based on a Twitter post by Galaxy, the tech giant is going forward with collecting this although it will limit the rate of Web3 adoption.
Furthermore, several NFT startups have also frowned at Apple’s ‘hefty’ commission on NFT transactions. The said imbalance becomes quite apparent when one considers that marketplaces charge nearly one-tenth of the percentage, based on these aggrieved firms.
With nonfungible token trading volumes dropping in recent months, developers in the space are attempting to implement more ingenious strategies to market digital assets. That includes attaching added features to increase demand and revenue. Apple’s policy also means that some of the users might need to resort to other cost-friendly marketplaces to do their NFT businesses.
New And Upcoming Apple Consumer Electronics Hardware
Apple recently unleashed new iPad Pro models and an update to its Apple TV 4K. Furthermore, the firm also announced its plans to release a new iPad dock that would complement the operability of the tablet. Essentially, the iPad will have the capacity to switch from tablet to smart display as preferred by the users.
