Apple is still skeptical about the worlds of cryptocurrency, metaverse, and non-fungible tokens (NFTs).
The tech titan has not yet declared its readiness to embrace these new technologies, despite the fact that it is aware of the trend since it enables apps to offer them in its App Store.
However, the availability of in-app services connected to NFTs and cryptocurrencies remains limited for the time being.
Recent App Store Review Guidelines updates and revisions provide users with new rules relating to NFTs and cryptocurrencies that establish what apps can and cannot do in order to support new features in upcoming OS releases, effectively protect users, and help apps go through the review process smoothly.
App Store NFT guidelines updates
According to the updated App Store rules for NFTs:
- In-app purchases may be used by apps to offer and sell services linked to NFTs, such as minting, listing, and transferring.
- Apps may enable users to view their own NFTs, as long as ownership of the NFT does not unlock features or functionality within the app.
- Apps may enable users to browse other people’s NFT collections, but they may not contain buttons, external links, or other calls to action that steer customers to purchasing methods other than in-app transactions.
App Store Cryptocurrency guidelines updates
According to the updated and revised App Store cryptocurrency guidelines:
- Apps may not employ their own methods, such as licensing keys, augmented reality markers, QR codes, cryptocurrencies, cryptocurrency wallets, and so on, to unlock content or functionality.
- Apps may support cryptocurrency transactions or transmissions on an authorized exchange, but only in countries or areas where the app has the necessary licenses and permits to run a cryptocurrency exchange.
According to these new guidelines, Apple is aware of all the frauds and scams that may occur in the world of NFTs and cryptocurrencies, and because its first duty is to safeguard customers, the only thing it can do is limit the functions of applications. Nonetheless, app owners will also benefit from these guidelines since they will know exactly what to do and what not to do in order to have their app approved.
It’s unclear whether these guidelines will grow more “permissive,” given Apple’s position on Web3. However, estimations and projections predict that the NFT market will expand to $231 billion by 2030, the worldwide cryptocurrency market will reach $4.94 billion by 2030, and the Metaverse market will earn more than $1 trillion in revenue annually, highlighting the need of businesses and people preparing to the not-too-distant future.
