Home » What do Apple’s App Store Guidelines Means for Crypto and NFTs?

What do Apple’s App Store Guidelines Means for Crypto and NFTs?

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Apple’s terms have always been tough for companies wanting to add more features to their iOS store apps.

This has attracted the attention of regulators and is very problematic for projects that want to provide the best possible service to their customers, especially when those services conflict with Apple’s own business interests. .

NFT cannot be listed on the iOS store when “unlock utility”.

Recent updates Violating the terms of service, NFTs can appear in iOS apps, but not when used to unlock further utilities.

This is very problematic as reducing NFTs to only digital collectibles automatically removes a large portion of the entire NFT market.

NFTs around the world are already being used for many things, not just digital collectibles.For example, TicketMaster has already sold over 1 million NFTs as tickets.

Not only this, but Apple’s new rules do not allow dynamic pricing models. This means that the entire industry trading his NFTs on iOS will also be automatically banned.

On the bright side, this means Apple regulates participation in large industries.

Apple’s monopoly has stifled competition for some time

Over the past few years, Audible has struggled to gain traction thanks to Apple’s terms of service and services. Apple restricts users from purchasing books directly from the app

This meant that Audible users were forced to purchase audiobooks through online platforms or purchase credits that could be redeemed for audiobooks in the app.

Most recently, Spotify complained that its attempt to enter the audiobook space was limited by Apple’s terms of service, preventing it from making the progress they wanted.

EU regulators could upset Apple

Complaints have been circulating for some time that Apple is abusing its monopoly, and given that it is ruining the business prospects of many seeking to capitalize on the digital industry, it has repeatedly urged lawmakers to intervene. We sought. Regulatory scrutiny of big tech companies has increased dramatically in recent months.

Recently, EU lawmakers debate Apple’s terms of service To determine whether Apple’s business practices violate monopoly laws.

If the company were found to be actually doing this, it could be forced to completely change its terms of service in order to allow other platforms to compete more effectively.

Even if Apple is not found to be in direct violation of existing law, EU regulators choose to punish the company anyway For using their power to disrupt the free market.

Apple’s monopoly power is of particular concern given that Apple now enforces bit licensing on behalf of governments around the world. This means Apple has the right to censor and remove users from the platform without legal recourse.

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