NFT: Apple modifies its rules of use

Lately, tech giant Apple has come under a lot of criticism for applying a 30% commission on NFT sales through platforms like OpenSea and Magic Eden. His decision had been considered grotesque, insofar as the commissions on the purchase of NFT are 2.5% on average. That said, Apple had no rules in place for NFTs on the App Store. The company has just updated the rules for using its platform by adding guidelines specific to NFTs.

Constraints or rules that facilitate the use of NFTs?

Apple recently published App Store review guidelines updates. The new rules state that “apps can use in-app purchase to sell NFT-related services“. The rule concerns NFT minting, quoting and transfer services. Furthermore, “apps may allow users to view their own NFTs, provided that possession of NFTs does not unlock features or functionality in the app“.

Apple precise that App Store apps may have features that allow users to view collections of NFTs that do not belong to them. However, they must not contain any buttons, external links or calls to action redirecting users to other purchasing mechanisms.

Summary of the new rules

Thereby, the purchase of NFT will only have to be done in the shop of applications. This rule can be restrictive for app developers since Apple charges a 30% commission on NFT sales.

Limit digital asset exchanges by geography

It is true that the new rules do not change Apple’s existing policy on crypto trading apps. This policy states that cryptocurrency transactions are not subject to Apple’s 30% tax. Nevertheless, the company has added a new directive that will limit crypto exchanges according to geographical areas.

The rule says that “apps can facilitate transactions […] on an approved exchange, provided that they are offered only in countries or regions where they have the appropriate licenses and authorizationsto provide a crypto exchange service.

For the first time, Apple is adding specific rules for NFTs to the guidelines apps in the App Store must follow. But these rules are not entirely advantageous for the developers.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts