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Apple’s New NFT Policy Sparks Controversy

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important point

  • Apple has updated its App Store policy to allow certain apps that feature Non-Fungible Tokens (NFTs).
  • This policy only allows NFTs without in-app functionality and disallows redirects to external services.
  • The updated policy has received mixed reactions from the tech and cryptocurrency communities.

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Recent changes to Apple’s NFT policy have created divisions within the cryptocurrency and tech communities.

Apple Updates NFT Policy

Apple’s NFT policy is controversial.

October 24, Apple Updated App Store guidelines Change the policy regarding non-fungible tokens or NFTs.

New policy explicitly allows app developers to “sell” [non-fungible tokens] and sales of related services [NFTs]This means that apps can allow the “create, list, and transfer” of NFTs within the app.

However, a major caveat is that the policy does not allow the sale of “utility” NFTs. The app developer cannot allow users to unlock features and functionality within the app with her NFTs, nor redirect users to external purchase mechanisms.

These restrictions can negatively impact blockchain-based games that use NFTs. However, it is not clear that such apps have a large presence in the first place. That’s because querying that app store just returns it. 9 NFT apps.

Apple initially started supporting NFTs in late September after being criticized for relying on proprietary payment mechanisms. This approach means Apple will add his 30% tax on his NFT sales of high-profit apps. This policy also applies to other apps with transactions.

Reactions are mixed

Reactions to the new policy have been mixed. Apple’s policy is perceived positively by some, forbes When game developer It highlights the fact that the new store policy explicitly addresses NFTs.

Others have criticized the restrictive nature of Apple’s policy and the seemingly excessive 30% cut.

Epic Games CEO Tim Sweeney said: criticized Apple defended both sides by arguing that they are neither for nor against NFTs, and that money is the only motivation. “They support taxable NFTs and ban non-taxable NFTs,” Sweeney said.

Some have pointed out that Apple’s restrictive NFT policy isn’t entirely its own. Bryan Ross, Staff Software Engineer at Docker, said: I got it The absurdity that Apple “introduces the same in-app purchase rules as other apps and sees the whole picture” [tech] The sphere will melt accordingly.

Yat Siu, co-founder of blockchain-focused gaming company Animoca Brands, said: Proposed Apple’s restrictions are possible because of their current superiority. He argued that the economic opportunity for blockchain games would become “very important like an open market” and that Apple would “eventually give in”.

Today’s news FCA Discussion On Big Tech and its impact on retail finance. These discussions are aimed at creating a competitive approach in these markets.

While not specifically related to Apple’s NFT policy, this discussion could lead to future regulatory changes that could affect Apple’s policies regarding NFTs and payments.

Disclosure: At the time of writing, the author of this work owned BTC, ETH, and other digital assets.

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