Apple Refusing Coinbase Wallet’s Latest Update Unless They Use IAP for NFT Transfers
Here is another lump of diesel-covered wood for the raging crypto fire (hey, we've got to keep warm during a crypto winter somehow). Apple is currently in a dispute with Coinbase, forcing them to remove their NFT sending feature from Coinbase Wallet to allow their latest app update to be approved on the iOS App Store.
You might be wondering what Apple is trying to do here. How can in-app purchases be used for NFT transfers, you ask? Well, boomer Apple thinks the Gas fees required to transact on the Ethereum blockchain need to be paid using Apple's IAP layer.
Facepalm.
For a company that prides itself on innovation, it's a stupid request. Does nobody in Apple know how cryptocurrencies work? Apple's in-app purchase functionality does not support crypto. This is akin to Apple forcing banks to use in-app purchases every time someone instigates a bank transfer using their iPhone. An NFT transfer is not a purchase; it sends an asset you own somewhere else.
While Coinbase and others hope this is an oversight, it's actually in their App Store terms of service here.
Added to 3.1.1: "Apps may use in-app purchase to sell and sell services related to non-fungible tokens (NFTs), such as minting, listing, and transferring. Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app. Apps may allow users to browse NFT collections owned by others, provided that the apps may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase."
Like all terms and conditions, Apple could use discretion here because their terms are a bit broad regarding NFTs. They did nothing to institute the transfer, and it cost Apple nothing. Is transferring an NFT (as opposed to buying or selling) really an expense from which Apple should be taking a cut?
Is it any wonder people are dreaming of a Web 3.0 future where corporate entities like Apple don't get to be gatekeepers of our hardware and data?
Posted Using LeoFinance Beta