Updated on January 25, 2023 5:55 PM
All additional NFT features must be disabled, and a 30% fee applies to any purchases made through Apple Store.
Applications are allowed to "sell and offer services" related to NFTs including "minting, listing, and transferring" through the use of in-app purchases.
According to Apple's policies, in-app purchases cannot be made with cryptocurrency; instead, only fiat money and "legitimate payment methods" like debit or credit cards can be used.
Apple published the App Store Review Guideline 3.11, which outlines what developers can and cannot do when employing crypto-related goods or services in the store.
Developers can now sell their NFTs and provide NFT services like minting, listing, and transferring using in-app purchases.
The new rules highlighted license keys, augmented reality markers, QR codes, cryptocurrencies, and wallets as examples of methods that are not permitted for apps and games that employ blockchain technology to unlock content or functionality. Any purchase made must be subject to Apple's supervision and tracking, and they must effectively receive a commission from it.
However, collectors who wish to display their collections need not worry too much because NFT collections can still be displayed and seen by other people. This is presuming they don't contain any buttons, external links, or other call-to-actions that could guide users to alternative purchasing options to in-app purchases.
The new regulations explain when a cryptocurrency exchange app can be listed, as well as how and for what purposes NFT purchases would be taxed.Its App Store policies were updated on October 24 to include language allowing in-app purchases of NFTs but prohibiting NFTs obtained in other ways from being used for anything other than viewing.
Additionally, it permits the use of in-app purchases by applications to "sell and offer services" associated with NFTs such as "minting, listing, and transferring."According to Apple's policies, in-app purchases cannot be made with cryptocurrency; instead, only fiat money and "legitimate payment methods" like debit or credit cards can be used.
Apple has entered the cryptocurrency market in an effort to gain a piece of the otherwise decentralized market and profit from user data since they can monitor transactions and transfers done in the store.
As they enter a centralized platform managed by a central authority and may be traced and destroyed at any time, the guidelines work against the decentralized potential of cryptocurrencies and NFTs and could lead to censorship and the outlawing of particular functions.
One of the most well-known virtual marketplaces worldwide is the App Store from Apple. More people than ever before will have access to this area of the crypto world thanks to the addition of GameFi projects and NFTs, and projects may experience an increase in popularity as a result of the update.
The 30% Apple Tax and the fact that all of their payment-related features and functionalities are locked behind the App Store's paywall and cannot be activated except in-store are two restrictions that are detrimental to NFTs and GameFi initiatives.
Apple is consolidating the GameFi and NFTs projects, creating a barrier for developers that wasn't there before in the decentralized environment.