Apple allows in-app NFTs in App Store, but charges a 30% transaction fee

October 29, 2022

, By Sarika Parmar

Share via:

Apple will allow nonfungible tokens (NFTs) to be purchased within apps designed for its mobile devices, but it will take its usual 30% cut of such transactions, limiting the appeal for users such as gamers.

The company’s most recent update to its App Store guidelines included explicit restrictions for the buying, selling, and trading of cryptocurrencies and NFTs in apps, much to the chagrin of blockchain enthusiasts who believe this will reduce the technology’s appeal to new users. The rules, which were released cover cryptocurrency and NFT trading. The updated guidelines permit apps to “facilitate transactions or transmission of cryptocurrency” on approved exchanges that adhere to local laws.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

India established a committee with veto power over social media content moderation

Next News

NSE sends ‘cease and desist’ notices to stock gaming apps

Popular

More Like this

Apple allows in-app NFTs in App Store, but charges a 30% transaction fee

October 29, 2022

, By Sarika Parmar

Apple will allow nonfungible tokens (NFTs) to be purchased within apps designed for its mobile devices, but it will take its usual 30% cut of such transactions, limiting the appeal for users such as gamers.

The company’s most recent update to its App Store guidelines included explicit restrictions for the buying, selling, and trading of cryptocurrencies and NFTs in apps, much to the chagrin of blockchain enthusiasts who believe this will reduce the technology’s appeal to new users. The rules, which were released cover cryptocurrency and NFT trading. The updated guidelines permit apps to “facilitate transactions or transmission of cryptocurrency” on approved exchanges that adhere to local laws.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

Previous News

India established a committee with veto power over social media content moderation

Next News

NSE sends ‘cease and desist’ notices to stock gaming apps

More like this

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!