For the most part, the company charges a 30% commission on the payment transfers that are made through its system, which previously led to a high-profile legal battle with Apik Games, in which Tim Cook’s company lost. In addition, Apple announced that it will only allow trading in digital currencies to platforms that hold regional licenses for this
Apple has updated its App Store regulations with clear and new wording that explains the policy regarding trading in cryptocurrencies and NFTs. According to the new explanations, the technology giant has no problem with crypto trading platforms or other applications that enable digital currency trading as long as these platforms hold the regional licenses required to operate where the application is available.
In order for apps to be able to sell NFTs and related services they will have to use Apple’s internal purchasing system and not include “buttons, external links or other instructions for action that direct consumers to external purchase mechanisms”.
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Apple’s insistence that all payments go through its system, which it claims is the only way to maintain the security of users and their sensitive information, has already led to legal battles with Epic Games, the maker of the computer game Fortnite, and conflicts with governments such as that of South Korea.
Apple usually charges a fee of 30% on the payments it manages, thus raking in significant income from products like Fortnite, which include a lot of purchasable content.
Apple prohibits functions in apps that allow NFT holders to use it to open features within the app as a way to circumvent payment laws. This rule may affect NFT projects that use the coin as a membership card that provides additional benefits and extensive access.
However, Apple will allow users to view, browse and share their NFT collections with others in apps on iPhones and iPads.
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