Apple, the world’s largest company, has annonced that its users will be able to enjoy certain NFT features on their devices, according to latest update.
However, there is a catch as the California-based giant wants to have control over the entire process.
The new guidelines by the company provided more information on how it sees the entire crypto industry, including exchanges and non-fungible tokens.
According to reports, Apple can work with trading venues as long as they have been licensed by the local watchdogs where the App Store operates.
When it comes to in-app purchases, the process becomes more complex.
If any crypto or NFT platforms want to sell such services, they need to comply with all Apple requirements and systems.
This could mean that they are unable to
“include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-apple purchase.”
The tech giant is known for charging a 30% fee on any payments that go through its system.
The NFT community was not really happy about this update, but on the other hand, the industry could receive a massive boost given Apple’s size and stature, being the largest company by market cap, with a notable difference from its followers.