Apple Will Allow Apps Selling NFTs on Its App Store

It has taken them some time, but Apple, one of the biggest tech companies in the world, is finally accepting the onboarding of NFT apps and games to their App Store.

 

Going forward, Apple has revealed that apps incorporating NFTs must adhere to its in-app purchasing rules. Therefore, surrendering ahefty 30% of the price of any NFTs traded on the platform. A step too far for many blockchain startups already running at tight margins.

 

Following the news, several members of the NFT Twitter community came out in defense of the move, arguing a 30% commission to gain access to a billion user (according to Apple) market represents a worthwhile investment. However, the move seems at odds with the decentralized ethos of NFTs and the blockchain. A movement that exists as a two-finger salute to overbearing corporations and their stranglehold on the industry.

 

However, a web3-based CEO, Gabriel Leydon, sees the positive side to the situation: “Everyone is focusing on apple wanting its 30% cut of each transaction without realizing this could put an ETH wallet in every single mobile game onboarding 1B+ players!” He added, “I will HAPPILY give Apple a 30% cut of a free NFT.”

 

Also, alongside the issue of the 30% transaction fees, the company is not accepting cryptocurrency just yet. The reason is simply as they don’t want to, only traditional fiat currencies, which only some projects accept.

 

According to The Information, Magic Eden withdrew its service from the App Store after learning about the policy. After the offer of a lower, 15% transaction, they still declined.

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