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Apple will allow apps that sell NFTs on the App Store
Apple now allows apps that sell NFTs to be installed and sold via the App Store. Now developers of current apps can sell NFTs in apps and new apps can have NFTs in them. However, many focus on Apple’s hefty 30% cut of each transaction.
Apple finally accepts NFTs
It’s taken them some time, but Apple, one of the biggest tech companies in the world, is finally accepting the introduction of NFT apps and games to the App Store.
With typical marketplaces like OpenSea and Magic Eden often taking a commission of no more than 5% overall, the 30% commission that the company takes seems incredible to project, app and game owners and will most likely put them off using new feature .
However, a web3-based CEO, Gabriel Leydon, sees the positive side of the situation: “Everyone is focusing on Apple wanting a 30% cut of every transaction without realizing that this could put an ETH wallet in every mobile game with 1B+ players!” He added, “I will HAPPILY give Apple a 30% cut of a free NFT.”
In addition to the issue of the 30% transaction fees, the company does not yet accept cryptocurrency. The reason is simply because they don’t want, only traditional fiat currencies, which only some projects accept.
According to The Information, Magic Eden pulled the service from the App Store after learning about the policy. After the offer of a lower transaction of 15%, they still declined.
The company’s previous NFT matches
Until now, Apple hasn’t really been involved in the NFT space, or even cryptocurrency for that matter. Of course their devices have the apps Metamask, Coinbase and other crypto wallets/exchanges. But that’s about as far as the California-based tech company goes.
The only Apple-related NFT/web3 move we’ve seen is a former Apple Executive moving to Disney to lead their Metaverse Creative Strategy. In June, rumors also built that Apple was giving out NFT trading cards at one of its developer conferences. It never ended up being realized.
It is unconfirmed whether Apple will ever look to make a move into the NFT, crypto or metaverse space itself. But at the moment it looks unlikely. If anything, they seem to be against the concept of crypto in general.
Apple ID NFT Hack
While totally unrelated to the company in any way, it is unfortunate that there was an NFT hack that went around for a while where users would have their NFTs, which were stored in MetaMask, taken away from them as someone had hacked into their Apple ID.
What often happens is someone calls or emails a user pretending to be Apple and they fall for it. Then they would manually reset the Apple ID password, and somehow inform the hacker about this as well. The result of this would be NFTs and other assets from the MetaMask mobile application.
