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The Good, The Bad, and The Ugly

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Apple Inc. this week updated guidelines on how users may interact with non-fungible tokens (NFTs) on its App Store. The update is couched in a typically bombastic consumer protection tone. But the changes could have a profound impact on the NFT sector. A mix of good and bad, but also some clearly ugly developments to negotiate.

Accordingly, developers may now sell NFTs featured on Apple’s App Store but only via its in-app payment mechanism. It means content creators will be liable to pay Apple’s controversial 30% tax on sales.

Apple NFT Restrictions

Until now, NFTs appeared to have avoided the fees. Apple is keen that users don’t evade the tax by using crypto to pay for NFTs in its App Store. So it placed even more restrictions.

“Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app,” the firm said.

Similarly, users may browse NFTs owned by others. As long the apps do not “include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than…

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