New NFT App Store guidelines have been released by one of the world’s top technology corporations, Apple. The statement follows a protracted period of uncertainty regarding their adoption of web3 technologies, particularly NFTs. Since the business has amended its terms and conditions, customers can now trade NFTs within the app.
There are some intriguing rules, though. Outside of the app, NFT payments cannot be made. Additionally, Apple deducts up to 30% of in-app purchases. Additionally, NFT apps must not provide any additional functionality for NFTs as this will lead to serious problems with “utility” NFTs.
Apple Updates NFT Rules for App Store
The new NFT regulations went into effect on Monday, concomitant with software updates for iOS 16.1, iPad OS 16.1, and macOS Ventura.
In essence, the new regulations prohibit many NFT features and impose limitations on apps to make sure that all transactions take place through Apple’s payment options. Notably, 30% of all in-app purchases are taken by Apple.
So, even while it does not outright prohibit NFTs, it does make it more difficult for developers and apps to use NFTs on the App Store. The 30%, according to many in the NFT community, will make it more difficult for the apps to provide high-quality services.
Users can now purchase, sell, trade, and list NFTs within the app, according to the business. However, the regulations make this very difficult and may have an impact on Apple’s long-term expansion of NFTs.
Will the New Apple Rules Work in the Long Term?
It will become obvious in the next months how the new regulations impact the durability of NFTs and the programmes that use them with Apple Products.
The biggest issue is Apple’s 30% salary decrease. This includes a restriction prohibiting apps from leading to payments made elsewhere. The new regulations’ limitations on functionality provide another issue for Apple NFT users.
Users can also view NFTs inside an app. The NFT must not, however, open up features or capabilities.
According to Apple, “Apps may not employ their own mechanisms, such as licensing keys, augmented reality markers, QR codes, cryptocurrencies and cryptocurrency wallets, etc., to unlock content or functionality.”
NFT projects frequently provide memberships or access to special services. These new regulations may have a significant influence on Apple ecosystem services as well as blockchain games that use NFTs.