Wednesday, March 22, 2023

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Heavy Blow To The NFT World From Apple!

NFT, which has become popular with the concepts of Web 3 and Metaverse in recent years, is increasing its influence day by day. So much so that large companies are increasing their significant investments in this still controversial area. An interesting move came from Apple, which was preparing to invest in this area before.

App Store To Cut NFT Sales

The tech giant has updated its App Store Review Guidelines. One of the remarkable details in the new update was the article limiting the features unlocked via NFTs. The App Store will implement Apple’s payment methods for NFT purchases and sales.

Along with the directive, the tech giant said that listing, printing and transferring apps is allowed and allows users to view their own NFTs. However, ownership of NFTs precludes unlocking more features within the app. With the rule, users will now be able to purchase NFTs only through Apple’s in-app payment system.

It is known that Apple wants to have a monopoly on in-app purchases. Apple introduced a 30 percent commission requirement while allowing NFT platforms to sell through their own apps. This number was previously 2.5 percent. In fact, the company gave the first signal of this directive last month.

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