Appstore demands a 30% fee sacrifice to include NFT sales
Over the weekend, news broke that the dominant fashion brand, apple, has softened its approach to NFTs. Although true to form, the tech giant in question will require a tribute to access its services.
Going forward, Apple has revealed that apps incorporating NFT must adhere to its in-app purchase rules. Therefore, surrender a 30% gross of price of any NFT traded on the platform. A step too far for many blockchain startups already running on tight margins.
Following the news, several members of the NFT Twitter community came out in defense of the move, arguing that a 30% commission to gain access to a market of one billion users (according to Apple) represented a worthwhile investment. However, this move seems to conflict with the decentralized principles of NFTs and blockchains. A movement that exists as a two-finger salute to overbearing corporations and their stranglehold on industry.
Now Apple is killing all NFT app businesses it can’t tax, crushing another new technology that could compete with its horribly overpriced in-app payment service. Apple must close. https://t.co/4KChp6jtFZ
— Tim Sweeney (@TimSweeneyEpic) September 23, 2022
According to reports, Solana, the leading NFT marketplace, Magic EdenThe platform has pushed development for in-app purchases, while Epic Games CEO, Tim Sweeney The terms have reignited an ongoing dispute by calling them “grotesquely overpriced in-app payment services”.
Nevertheless, the news could ultimately be a positive outcome for the industry. Essentially, opening the door to several crypto-native platforms currently in the works, including the much-hyped and highly anticipated offering of the Solana ecosystem.
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*All investment/financial opinions published by NFT Plaza are derived from the personal research and experience of our site moderators and are intended as educational material only. Individuals should do thorough research on any product before making any type of investment.
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The post Appstore Claims 30% Fee Sacrifice to Incorporate NFT Sales appeared first on NFT Plazas.
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