Apple Restricts Apps From Using NFTs In New Update

Apple changed its App Store policy to prohibit apps from utilizing NFTs to entice customers to buy things or services that the tech giant cannot tax.

The Cupertino, California-based corporation charges up to 30% on all App Store sales and any money spent using applications.

Apple’s policy was recently revised to restrict applications from employing NFTs that feature buttons, external links, or other calls to action that steer users to buying methods other than in-app purchases.

According to Apple’s update, apps can sell and sell services linked to NFTs, such as minting, listing, and transferring. However, employing NFTs to access new functions or functionality is not permitted.

Including extra functionality and premium features in NFTs is a good method to increase their usability or worth. With trade volumes plummeting recently, NFT producers attempt to be more innovative in marketing NFTs. Attaching extra features is sometimes seen as a means to enhance demand.

Apple has previously been chastised by NFT startups for seeking to take 30% of NFT transactions, which is considered a substantial commission by many firms, large and small. In contrast, markets charge around one-tenth of that number.

Apple’s restriction effectively implies that customers are strongly discouraged from doing anything other than seeing NFTs through marketplace applications like OpenSea and Magic Eden. If a person wishes to purchase or sell an NFT, they may do so on the marketplace’s website for significantly less money.

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Harold

CoinCu News