Apple Announces New NFT And Cryptocurrency App Store Policies

Apple has included new guidelines for crypto assets and non-fungible tokens to its revised App Store Review Guidelines (NFTs).

The internet giant has no issues with cryptocurrency exchanges or any other apps that provide the trading of digital tokens and currencies, according to updates released on Monday, provided that such platforms possess the necessary regional permits to function where the app is distributed.

“Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered only in countries or regions where the app has appropriate licencing and permissions to provide a cryptocurrency exchange,” the guidelines indicate.

Furthermore, apps can sell digital tokens, but they should not unlock extra features or content and “may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase.”

“Apps may use in-app purchase to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing, and transferring,” the new guidelines read. “Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app.”

As one of the primary uses for NFTs is the ability to unlock access to premium material or other benefits, this might have a highly negative effect on NFT sales. For instance, Bored Ape Yacht Club NFTs provide holders access to a variety of various channels for communication, products, and even actual clubs.