Apple’s tightening rules around NFTs may limit Web3 adoption

• According to John L. Baptiste, the former CEO of Onswipe, Apple’s new NFT rules may limit web3 adoption
• Apple has officially introduced new NFT rules that are up for debate among several crypto followers.

Tech giant Apple has issued a new NFT guideline that strictly delimits the areas that users can explore in the NFT domain. The firm does not cut back on the 30% tax on in-app purchases and has barred all NFTs purchased from elsewhere from being used for anything other than display.

Apple’s new rules could stifle NFT startups

As reported by Information last month, Apple’s brutal stance against NFTs by charging 30% tax on in-app purchases is discouraging more marketplaces and creators of NFTs/NFT startups from exploring the ecosystem to its full potential.

In a new blog post updated on October 24, Apple has once again clarified its stance on NFTs, adding that the tech giant is not leveling out and has introduced a new set of rules for the NFT domain.

As per the new update, Apple allows users to explore purchasing NFTs within the app.

The update further states that Apple will allow users to sell services related to NFTs. However, Apple will not allow users to unlock features or functions of the app to be used for services other than browsing and viewing.

“Apps may use in-app purchases to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing and transfer. Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or in-app functionality. Apps may allow users to browse NFT collections owned by others, provided the apps do not include buttons, external links, or other calls to action that direct customers to purchase mechanisms other than in-app purchases.” Adds the post later

Apple has also introduced a new restriction where apps will not be able to include buttons, calls to action or external links to allow users to navigate out of the ecosystem. The update also says that the tech giant is restricting apps from using functionalities like QR codes, cryptocurrency and cryptocurrency wallets to unlock additional functionality within the apps.

Jason L. Baptiste, former CEO of OnSwipe, has referred to the new Apple rules as an emerging threat to the web3 domain. Baptiste noted how the new Apple rules could threaten Web3 supporters, especially game developers.

Baptiste later shared how Apple’s initial official stance on NFTs and crypto does not embrace the particular sector, but rather sees it as a potential threat.

Photo: Bangyu Wang/Unsplash