Coinbase Informed that the application Wallets for iOS NFT trading is no longer allowed apple Demands to pay 30% commission. However, the company headed by Brian Armstrong asserted that the request is not feasible, as the App Store does not support cryptocurrency payments. The matter again sparked criticism against the Apple monopoly.
Apple is asking for the impossible
At the end of October, Apple updated the guidelines for developers, with point 3.1.1 specifying that an in-app payment system must be used to sell NFTs. However, NFTs and cryptocurrencies are not allowed for in-app purchases.
Coinbase reported that the app Wallets for iOS NFTs are no longer allowed to be exchanged. The feature has been removed to receive approval for the latest version. practically, Apple wants 30% off ‘gas fees’i.e. the commission paid by users to compensate for the energy expenditure required to validate transactions on the Ethereum blockchain.
You may have noticed that you cannot send NFT on Coinbase Wallet iOS anymore. This is because Apple blocked the latest version of the app until we disabled the feature. 🧵
Coinbase Wallet December 1, 2022
There’s just one small “problem”: The App Store doesn’t support payments in Google Play Digital currencies. Coinbase rightly points out that Apple’s claim is absurd.
For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s in-app purchase system doesn’t support encryption, so we can’t comply even if we try.
Coinbase Wallet December 1, 2022
The most serious consequences of the new rules are for iOS users They can no longer transfer NFTs In other wallets or give it to someone.
The biggest impact of this policy change is on iPhone users who own the NFT — if you hold the NFT in a wallet on the iPhone, Apple has made it very difficult to transfer the NFT to other wallets, or give it to friends or family.
Coinbase Wallet December 1, 2022
Pending a fix, Coinbase is recommending users to install the Wallet Chrome extension. CEO of Epic Games, Tim Sweeney, declared that Apple’s monopoly must be discontinued. If he can demand 30% per NFT transfer, he will soon demand 30% per bank transaction or stock trade.
If they can legally add a 30% Apple tax to all NFT transactions, they can legally add a 30% Apple tax to all online banking and stock trading.
The App Store monopoly dominates the US economy. Apple must stop! https://t.co/zTV8iVFUfm
– Maybe Tim Sweeney (@TimSweeneyEpic) December 1, 2022
Elon Musk has repeatedly discussed the topic, but it seems that he has reached a peaceful agreement with Tim Cook.
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