Apple takes strict decision against NFTs apps

Giant smartphone tech company Apple issued an order to all the NFTs-related services provider companies to not use third-party payment services. 

Apple is a popular iPhone smartphone company, which doesn’t need any kind of introduction. As a tech giant, Apple also works to adapt the new tech innovations, to remain top in the race of the tech sector. 

On 24 October, Apple Store, an Apple ecosystem-based software platform, warned all the NFTs-related Apps which are available in the Apple Store to restrict & limit their services within the app.

Through the newly updated guidelines, no one NFTs related services provider ( like NFTs trade, mint, deposit & withdrawal platforms) can’t provide NFTs to buy and sell through outside third-party platforms, and also NFTs service providers could not provide any type of new unlock features with NFTs. 

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Apps “sell and sell services related to” NFTs “such as minting, listing and transferring,” according to Apple’s update. But, using NFTs to unlock additional “features or functionality” is not allowed.

In short, Apple will not allow any kind of NFTs-related Service providers to provide NFTs to buy, sell, Investment, or new utility under any third-party payment systems.

Here this restriction will force all the NFTs trade platforms to go with Apple’s in app-purchase payment system, so that company can cut a 30% commission on every purchase of NFTs collectibles in its ecosystem. 

Initially, on 23 September, Reports confirmed that Apple planned to impose a 30% to 35% commission on every NFTs purchase, which will take place inside the Apple ecosystem. 

Apple has told startups it must sell NFTs through in-app purchases, forcing many startups to limit functionality in apps to dodge fees up to 30% of the transaction, even when the startups are only facilitating the trades. My latest for @theinformation https://t.co/2pKamhLmCp

— Aidan Ryan (@aidanfitzryan) September 23, 2022

This kind of news acted as a catalyst to start negative comments against Apple. Many NFTs & crypto supporters said that the company is trying to misuse its power to make money and it will only degrade the interest of people in the crypto sector.

Read also: Twitter working on a crypto “wallet prototype”

Apple takes strict decision against NFTs apps

 

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