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What does Apple's guideline update mean for the NFT sector?

 


Apple has released a policy update for app developers. It says:


Apps may use in-app purchases to sell and market services related to Non-fungible Tokens (NFTs), such as minting, listing, and transferring. Apps may allow users to view their own NFTs, provided that owning NFTs does not unlock any features or functionality within the app. Apps may allow users to browse NFT collections owned by others, provided that the apps do not contain buttons, external links, or other calls-to-action that direct customers to purchase mechanisms other than in-app purchases.


Freely translated from the update from Apple

The group is thus creating a basis for the use and integration of NFTs, which, however, has met with widespread criticism in the industry. For example, paying NFTs with cryptocurrencies is still not officially supported, although it is possible with certain wallets. Including the Phantom Wallet for Solana.


Social NFT trading app for iOS

The change means that primarily trading NFTs in apps on mobile for iOS will be allowed by Apple. In addition, the most valuable international company also allows features such as displaying the images.


Essentially, this should be the basis for the launch of a social NFT app in the iOS universe, which not only allows members to view collections from others, but also to trade the tokens.


While some market observers are again assuming that Apple has its own plans for a marketplace or its own metaverse, this is likely to be just a step by the company into another new business field.


Allowed but expensive

Because the biggest beneficiary of the change is by no means the NFT or crypto space, but above all Apple itself. The American company is also applying its classic, extremely high fee structure here. As with all App Store purchases, there is a 30% fee for the seller.


However, NFTs are usually not the latest gaming skin for a manageable sum, but tend to be very expensive assets, with a 30 percent fee. OpenSea only charges 2.5%, which doesn't exactly promise Apple a competitive advantage.

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