Tech Giant Apple Issues New App Store Rules for Crypto and NFT Payments

In order for apps to sell NFTs and related services, they'll have to go through Apple's in-app purchase systems and "may not include buttons, external links, or other calls to action that direct customers to purchasing mechanisms other than in-app purchase."

Apple charges a typical 30% fee on payments it handles, which has yielded significant income from products like Fortnite that include a lot of in-game content unlockable by deep-pocketed players.

Apple specifically guides against any app functionality that lets NFT holders "unlock features or functionality within the app," which may have served as an oblique workaround to its payments rule. That may affect some NFT projects that use the token like a membership card, providing added perks and access not otherwise accessible.

Trading volumes for NFTs -- digital art and collectibles recorded on blockchains -- have plummeted 97% from their January record high after a series of economic shocks and crypto sector blowups soured appetites for digital assets.