Apple will allow apps to sell NFTs in its App Store
Apple is now allowing apps that sell NFT to be installed and sold through its App Store. Now, developers of existing apps can sell NFTs within apps and new apps can have NFTs However, many are focusing on Apple’s hefty 30% cut of each transaction.
Apple finally accepts NFTs
It took them some time, but Apple, one of the biggest tech companies in the world, is finally accepting the onboarding of NFT apps and games in their App Store.
While common marketplaces like OpenC and Magic Eden often charge no more than 5% commission in general, the 30% commission that the company is charging seems unbelievable to project, app and game owners and will probably put them off using it. The new future.
However, a Web 3-based CEO, Gabriel Leydon, sees the positive side of the situation: “Everyone is focusing on Apple wanting to take a 30% cut of every transaction without realizing that it can keep an ETH wallet in every mobile game onboarding 1B+ players!” He added, “I’d happily give Apple a free NFT 30% cut.”
Also, besides the 30% transaction fee issue, the company is still not accepting cryptocurrencies. The reason is that they simply do not want, only traditional fiat currency, which only some projects accept.
According to The Information, Magic Eden withdrew its service from the App Store after learning about the policy. After offering a lower, 15% transaction, they still refused.
Company’s Previous NFT Bouts
Until now, Apple hasn’t really been involved in the NFT space or even cryptocurrency. Of course, there are other wallet/exchange apps on their devices, including Metamask, Coinbase, and Crypto. But that’s as far as the California-based tech company goes.
The only Apple-related NFT/web3 movement we’ve seen is a former Apple executive at Disney to lead their metaverse creative strategy. Also, in June, Apple was rumored to be releasing NFT trading cards at a developer conference. It eventually came to fruition.
Not sure if Apple will ever look to make a move into the NFT, crypto or metaverse spaces. But at this point, that looks unlikely. If anything, they seem to be against the concept of crypto in general.
Apple ID NFT Hacks
Although completely unrelated to the company in any way, it is unfortunate that there has been an NFT hack for some time where users have their NFT, stored in Metamask, taken from them because someone hacked their Apple ID.
What often happens is someone will call or email a user pretending to be Apple and they fall for it. Then, they will manually reset their Apple ID password, somehow notifying the hacker as well. The result will be NFT and other assets from the Metamask mobile application.
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This article is educational material.
As always, do your own research before making any type of investment.
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