Apple Now Allows In-App NFT Sales But Not Everyone Is Pleased, Here’s Why!
Apple now allows in-app NFT sales but not everyone is pleased, here’s why!
Apple recently made some big announcements that could forever change the NFT space, however, not everyone seems to be pleased with it.
According to a Friday report from The Information, the multinational technology company Apple will finally be accepting the onboarding of NFT apps and games to their App Store.
This means that developers will now be able to sell NFTs within their apps listed on the App Store. However, the company is stepping their foot forward and imposing a 30% commission rate for these in-app purchases.
Community’s Response
Many in the community have been incredibly divided in their opinions on this, with some excited at the prospect of NFTs being able to be further introduced to the general public, while others are slamming the multi-billion dollar company for their greediness.
The 30% commission rate is indeed incredibly big especially in comparison to the small 2.5% to 5% commission rates in most standard NFT marketplaces like Magic Eden and Opensea.
A number of individuals in the community have publicly voiced their disdain and criticism against Apple, claiming that their 30% commission rate is “grotesquely overpriced”.
Epic Games CEO, Tim Sweeney, for example, claims that in the process of charging this massive commission cut, Apple is essentially “killing” all NFT businesses that it can’t tax and “crushing another nascent technology”.
Now Apple is killing all NFT app businesses it can’t tax, crushing another nascent technology that could rival its grotesquely overpriced in-app payment service. Apple must be stopped. https://t.co/4KChp6jtFZ
— Tim Sweeney (@TimSweeneyEpic) September 23, 2022
Related: Reports: NFTs May Be The Biggest On-ramp to Cryptocurrency in CSAO Today
Positive Outlook
Despite this however, a number of users online have also been stating their opinions on how bullish this decision by Apple means for the world of Web3 and NFTs.
With an estimated 1 billion Apple devices (and counting), by Apple now allowing in-app NFT purchases, users argue that this would help open the doors to NFTs for over 1 billion people worldwide.
Despite this however, a number of users online have also been stating their opinions on how bullish this decision by Apple means for the world of Web3 and NFTs.
With an estimated 1 billion Apple devices (and counting), by Apple now allowing in-app NFT purchases, users argue that this would help open the doors to NFTs for over 1 billion people worldwide.
CEO of Limit Break, Gabriel Leydon for example, wrote to his Twitter that too many people are focusing on the 30% commission rate and overlooking the effects this will have to the exposure of NFTs to the general public.
Apple has decided to let developers sell NFTs inside of games/apps. Everyone is focusing on apple wanting its 30% cut of each transaction without realizing this could put an ETH wallet in every single mobile game onboarding 1B+ players! https://t.co/BPJj3gD5r2
— Gabriel Leydon (FREE,OWN) (@gabrielleydon) September 23, 2022
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