Apple To Allow Third-Party Apps, What This Means For NFTs!

Apple To Allow Third-Party Apps, What This Means For NFTs! 

Tech giant Apple has recently announced exciting news which could become a massive win for NFT and Crypto-related App developers in the near future.

Allowing External Apps

For many years now, tech company Apple had an infamously monopolistic system that allowed their iOs users to only be able to download applications from the App Store. However, in order to comply with the EU’s upcoming Digital Markets Act (DMA), Apple is reportedly planning to open up, allowing users to download a third-party alternative app outside of the App Store.

Related: FTX Founder SBF Engaged In Fraud For Years, Prosecutors Say

Apple has noted however that it may still be considering keeping some level of control in the apps that are able to be downloaded by users by “mandating certain security requirements,” verifying outside apps in some way, and potentially charging a fee, according to Bloomberg.

This new feature is reportedly aimed to be launched in Apple’s iOS 17 software update, which is rumoured to be launched sometime next autumn.

Opening Doors For NFT App Developers

Apple allowing the download of third-party applications is huge news for the NFT and crypto community, who for the longest time have felt restricted by Apple’s current system.

The tech giant had many rules and for NFT and crypto-related apps that caused massive limitations to the community as a whole, including their controversial 30% tax fee for any in-app purchases, including NFT purchases. 

By allowing third-party apps, this could mean the development of more NFT-related apps that are not subject to the 30% tax implemented on Apple’s App Store.

Earlier this month, Apple also faced massive criticism when crypto exchange Coinbase revealed that they were forced to disable NFT transfers on their self-custody wallet app due to Apple wanting to collect 30% of the gas fee from the transfers.

“Good example of the kinds of discussions we have with Apple on a monthly basis, to deal with their app store monopoly. It’s gotten pretty absurd at times,” Coinbase CEO Brian Armstrong tweeted on December 1st.

 Related: Apple Blocks Coinbase Wallet Users From Sending NFTs

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