In a new guideline update, Apple Inc. revealed that it is allowing non-fungible tokens (NFTs) in applications, but will not allow them to be used to unlock in-app content or features.
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Fast facts
- “Apps may use in-app purchase to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing, and transferring. Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app,” Apple’s official Oct. 24 update wrote.
- The tech company added that apps can allow users to browse NFT collections of other users as long as the apps do not direct customers to external links or other purchasing mechanisms other than in-app purchases.
- This means NFT transactions are also subject to Apple’s 30% fee on in-app commerce. In comparison, NFT marketplace OpenSea charges only 2.5% for transactions.
- Apple’s restriction may hinder NFT purchases and usage, Decrypt reported, as NFTs are widely used as a key to open locked or exclusive content.
- Violating Apple’s guideline may have the application removed from the app store.
See related article: Apple CEO Tim Cook backs AR tech over the metaverse
