Apple updates its app store policy, welcoming NFTs – but there is a catch

The latest regulation updates enable the purchase of NFTs in apps, however, it also charges 30% for the transaction. Game developers have been angered by this move, because it will repel potential users. 

The updated App Store guidelines enable the facilitation of transactions or transmission of cryptocurrency on approved exchanges that comply with local laws. According to the updated regulations, ‘apps may not use their own mechanisms to unlock content or functionality, such as licence keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets.’

This implies that while people can buy and sell cryptocurrencies and tokens – they cannot be used to pay for purchases within apps themselves. 

This has been unwelcome news for play-to-earn programs, which often incorporate tasks whose completion helps users to earn cryptocurrencies or tokens that can then be traded on exchanges in the real world.

The ambiguity continues. Theoretically, the updated regulation allows in-app NFT purchases as long as they do not unlock any features or functionality within the app. This clause hinders utility-based tokens like gaming NFT, which tokenize in-game rewards. In practice means that you won’t be able to exchange your pokemon collection in different exchanges. 

This package of changes has been criticised by developers and digital rights groups that explain this kind of behaviour with Apple’s monopolistic aspirations. This is not the first time Apple’s audacity has stirred game developers. Just last year, Fortnite creator Epic Games sued the tech giant over its disproportionate fees.