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NFTs allowed, but no additional functionality
Apple, one of the leading technology companies in the world, has announced new NFT App Store rules. The announcement comes against a backdrop of long-term uncertainty about how they will adopt web3 technology, particularly NFTs. Now the company has updated its terms and conditions, which means users can trade NFTs in the app. However, there are some interesting rules. The NFT payments cannot take place outside the app, and Apple takes a cut of up to 30% of the in-app payments. Also, NFT apps must not provide any additional functionality for NFTs, which would cause major problems with “utility” NFTs.
Apple updates the NFT rules for the App Store
The new NFT rules are now in place, coinciding with iOS 16.1, iPad OS 16.1 and macOS Ventura software updates on Monday.
Basically, the new rules limit many features that NFTs offer and place restrictions on apps to ensure that all purchases are made using Apple’s payment methods. Specifically, Apple takes 30% of all in-app payments.
So while not a complete ban on NFTs, it does make it harder for creators and apps to use NFTs on the App Store. Many in the NFT community argue that the 30% will make it harder for apps to provide high-quality services because of the amount Apple charges.
The company has confirmed that users can buy, sell, exchange and list NFTs in the app. But the rules make this incredibly difficult and could affect the long-term growth of NFTs for Apple.
Will the new Apple rules work in the long term?
In the coming months, it will become clear how the new rules affect the lifespan of NFTs and apps that use them with Apple products.
The biggest concerns are the 30% pay cut for apple. This includes a rule that apps cannot lead to payments outside of Apple. Another problem for Apple NFT users is that functionality is limited within the new rules.
Users can also view NFTs in an app. However, NFTs must not unlock features or functionality.
Apple states: “Apps cannot use their own mechanisms to unlock content or functionality, such as license keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets, etc.”
Quite often, NFTs provide access to exclusive services or even as a membership. These new rules could seriously affect blockchain games that use NFTs, along with other services in the Apple ecosystem.
