IAP for NFTs
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. Apps may allow users to browse NFT collections owned by others, provided that the apps may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.
Apple is now the largest threat to Web3 with their most recent App Store Guidelines that they published today.
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Token/NFT gated apps are dead. Doesn’t matter if bought on your own site.
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Apple is now an enforcer of bit licenses for governments. If your bit license is called into question, Apple can remove you instantly without waiting for a court appeal.
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You can’t just use IAP to offer something for let’s say $54.20 or $69.69. You have to use pre-set prices such as .99 or 14.99. Each price point is its own “items”, requiring its own approval. The tech literally cannot work for NFTs/marketplaces.
To cryptocurrency enthusiasts, this means Apple is now adding a 30% tax on your so-called “true ownership” of digital goods.
To crytocurrency detractors, this shows Apple’s motivations are only money. For digital items, they support NFTs they tax, and ban NFTs they don’t tax.
A 30% tax on all trades of virtual goods means that, unless it appreciates 40% or more between trades, every transaction drives its value to $0, with Apple devouring all the value.
Buy a $1k skin, if you sell it at $1k, you’ve lost $300 and Apple has made $600, yet no value made
The foregoing is clearly anti-innovative. For example, why shouldn’t it be possible for an app to unlock a feature or some additional content if someone scans a QR code at an event? It’s just that Apple generally prohibits it because otherwise there would be a risk to Apple that someone would bypass its app tax.
Previously: