Apple allows NFT sales in its App Store-but there is a catch

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  • Apple takes 30 % of NFTS that are sold as in-app purchases
  • All transactions must be made in USD and not in cryptocurrency

The Technologieriese Apple now allows the purchase and sale of NFTs to applications that are listed in its App Store. This enables developers of current apps not to sell fungal tokens in the app, and new apps to install NFTs.

The first catch, however, is that Apple uses its existing web2 monearization structure and earns $ 30 % and 15 % less from app developers who earn over $ 1 million annually.

The app store from Android, Google Play, uses the same guideline.

Before this decision, apps that have stored or displayed NFTs may have violated Apple rules. Now developers can sell NFTs with Apple's blessing.

No crypto allowed - not very web3

The second catch is that transactions have to be done in USD. Crypto is not an option.

The public reaction is mixed. Tim Sweeney, the CEO of Epic Games-the company behind the Fortnite video game and no unknown Select a fight with the technology giant-tweeted: "Apple must be stopped."

He believes that the reduction by 30 %that Apple occupies could be unaffordable for some and even kill small NFT companies.

This is the basis of the lawsuit of Epic Games

Another company that was amazed by the move was Magic Eden, the largest NFT marketplace in Solana, who retired from the App Store after learning from the directive. according to on a Friday report of the information.

The Magic Eden app is still listed in the App Store at the time of publication.

There is a problem with secondary NFT sales. Market places such as Magic Eden or Openea usually take a commission of no more than 5 %.

If a collector wants to buy an NFT via the Magic Eden or OpenSea app on an iPhone in this case, the seller will only receive 70 % of the sales price. And the market will probably not be interested in compensating for the difference.

"This primarily benefits primary sales or states from NFTS, in which the fee of 30 % can be taken into account," said Milan Harris, Game Director at Cool Cats, to block works and added that "the fee is worth accessibility and user experience that can be provided directly on an Apple device.

He sees that this policy primarily benefits video games, while "the types of transactions that make NFTS and blockchain technology valuable will probably still remain outside the Apple ecosystem," he added.

Only purchases that are made directly in the app are subject to charges, and all transactions that take place on other platforms remain unaffected.

On the other hand, Gabriel Leydon, founder of the Digidaigaku NFT project, who is quite optimistic, is "happy to give Apple a share of 30 % in a free NFT".

he tweeted that this could give millions of people access to NFTs, since developers can still give away free NFTs and allow users to sell them in secondary marketplaces while avoiding 30%tax.

When asked about the time of this announcement, Harris said that Apple had probably felt pressure to act quickly.

In view of the fact that Apple's iPhone is the most profitable product of the company, Apple does not want to make the mistake of having competitors take the lead when it comes to being the platform of choice for mobile NFT activities-be it when playing, collecting, "said Harris.

A competitor could be, for example, the Solana, which has recently been debut his Android-operated Crypto-First smartphone, which is supposed to appear in early 2023

It is also rumored that Apple is Work on augmented reality Smart Glasses that could be sold by the end of this year-potential competition for Facebook in Metaversum.

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The article Allows NFT Sales on Its App Store - But there's a catch is not a financial advice.