Cryoto Currency

DailyCoin: Blockchain Games May Have a Major Impression


© Stocksak Apple Sets New App Store Rules: Blockchain Games May Have a Major Impact
  • Apple (NASDAQ: ) continues its trend towards locking down its ecosystem, and is centralizing GameFi/NFTs.
  • Developers now have the ability to integrate crypto and NFTs in their GameFi projects. However, there are strict limitations.
  • Any secondary NFT functionality must also be disabled. All purchases must be made through Apple Store. A 30% fee is charged.

Apple published numerous changes to their App Store’s review guidelines as they shed light and offered some insights into how apps that offer cryptocurrencies and non-fungible tokens (NFTs) can operate, based on the update report October 24, 2022.

GameFi Developers Now Have Some Light on Cryptocurrency in the App Store

Apple has released AppStore Review Guideline 3.11. This guideline is intended to help developers understand what they can and can’t do in the app store when using crypto-related products and services.

Developers now have the ability to use in-app payments to sell their NFTs or offer NFT services such as minting and listing.

Apple Tax still applies to all sales and purchases. Apple gets a 30% cut on each purchase. DailyCoin reported the outrage following Apple’s 30% NFT sales tax.

Games cannot be redirected to other websites or apps by using other payment methods. In-game NFT functionality can only be unlocked by making an in app purchase.

This means that anyone who tries to compete with Apple in primary or secondary NFT purchase sales is out of the loop.

Any apps or games that feature blockchain technology can’t use their own mechanism to unlock content or functionality, where the updated terms cited license keys, augmented reality markers, QR codes, cryptocurrencies, and wallets. Apple must be able to track and control any purchase and take their cut.

Collectors who wish to display their collections should not worry. NFT collections can still displayed and viewed by other people. This assumes that the collections do not contain buttons, external links, or other call-to-actions that could redirect customers to other purchasing options.

Licensee exchanges can still facilitate crypto transmissions. This means that tokens related to GameFi can be sold more conveniently, provided they are only offered in countries and regions where the app has the appropriate licensing and permission to do so.

Why You Should Care

  • Apple has entered crypto to try and get a piece of a decentralized market.
  • These guidelines are against the decentralized potential for cryptocurrencies and NFTs. They enter a centralized platform controlled and monitored by a central authority. They can be tracked and deleted at any time. This results in censorship or the banning of certain functions.

Why You Should Care

Apple’s App Store is one of the most popular virtual stores globally. The update will allow more people to access this section of crypto space through the addition of GameFi projects, NFTs, and projects may also see a rise in popularity.

However, numerous restrictions are disadvantageous for NFTs and GameFi projects, as they are all subject to the 30% Apple Tax and all of their payment-related functionalities and features are locked behind the App Store’s paywall, as they cannot be activated unless done so directly in-store. Apple is centralizing NFTs, GameFi projects, and is creating a barrier for developers that is not possible in the decentralized space.

Learn the positive side of crypto regulation.

Regulatory Action makes Crypto Industry more attractive to investors

Learn more about Animoca Brands and REVV Motorsport’s Play to Earn (P2E) title, MotoGP Ignition:

Animoca’s MotoGP Ignition Latest Updates: Development Progress and New Reward Mechanism

See original on DailyCoin

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button