Over the weekend, the dominant fashion brand, Apple, the approach to NFTs has softened. While true to form, the questionable tech giant needs tax to get its services.
Going forward, Apple has stated that apps that include NFTs must comply with its in-app purchase rules. Therefore, extradition a 30% off top price of any NFTs traded on the platform. A step too far for many blockchain startups already on tight margins.
After the news, several members of the NFT Twitter community came out to defend the move, arguing that a 30% commission (like Apple’s) to reach a billion users represented an investment worth the market value. However, the move seems to go against the decentralized ethos of NFTs and blockchain. A two-fingered salute to overpowering corporations and their stranglehold on the industry.
Now Apple is killing off all NFT app businesses it can’t afford to tax, squashing another new technology that could compete with its super-expensive in-app payment service. Apple needs to stop. https://t.co/4KChp6jtFZ
— Tim Sweeney (@TimSweeneyEpic) September 23, 2022
According to reports, Solana is leading the NFT marketplace; Magic EdenHe pulled the development for in-app purchases on the platform, the CEO of Epic Games Tim Sweeney He continued his ongoing feud by calling the term “an overrated in-app payment service.”
Despite this, the news may eventually have a positive effect on the industry. Mainly opening the door to several crypto-native platforms currently in operation, including the much hyped and highly anticipated offering from the Solana ecosystem.
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Post Appstore requires a 30% fee to include NFT sales.