Apple Updates Rules on NFTs and Cryptocurrencies. What They Mean. Apple AAPL +1.48% has issued new App Store rules for cryptocurrency trading and non-fungible token payments. The guidelines state that apps must use Apple own in-app purchase system to sell non-fungible tokens (NFTs) and related services.
Can apps sell NFTS?
Apps can offer services to sell NFTs and sell services related to them, so long as they use Apple’s in-app purchases. All of this means that any sort of trading service of NFTs must use Apple’s controversial in-app payment mechanism. Apple takes an up to 30% cut of in-app payments.
What's new in Apple App Store guidelines?
The updated guidelines now have specific mentions of apps with NFTs, as well as introducing new rules for advertising management apps. In a note published on the Apple Developer website, the company highlights what’s new and what has changed in the App Store guidelines.
Can you buy NFTS through Apple's in-app payment system?
However, the ownership of NFTs shouldn’t unlock any more features within the app. Plus, these apps can let users browse other collections but they shouldn’t show external links, buttons or call to action to purchase NFTs. Users can only purchase NFTs through Apple’s in-app payment system.
