Cracking Down on a New Age Loophole

For a species so smart, human beings have a pretty shocking record when it comes to making mistakes. This has already been brought up quite a few times throughout our history, with each appearance practically forcing us to look for a defensive cover. We will, on our part, find the stated cover once we bring those dedicated regulatory bodies into the fold. Having a well-defined authority across each and every area was a game changer, as it instantly concealed our many shortcomings, and consequentially, ushered us towards a whole new reality. However, it won’t be long before our new reality is stained by the arrival of technology. To contextualize the statement, we must acknowledge how the moment technology got its layered nature to take over the scene; it allowed everyone an unprecedented chance to exploit others for their own benefit. In case this somehow didn’t sound bad enough, the whole runner will soon began to materialize on such a massive scale that it expectantly overwhelmed our governing forces and sent them back to square one. After a long time in the wilderness, though, it seems like the regulatory contingent is finally ready to make a comeback. The same has only turned more and more evident over the recent past, and truth be told, Apple’s latest move does a lot to keep the trend well and truly alive.

Apple has officially updated its App Stories policies, with NFTs and social media ads headlining the change. According to certain reports, the new policy framework prohibits NFTs to unlock any additional features in an app. You can still list, mint, transfer, and view these NFTs, but the entire method using non-fungible tokens to bypass Apple Store’s mandatory 30% fee is now out of the window. Furthermore, the developers cannot put external links within the app to let users complete their NFT purchase through a third-party portal. Instead, all these transactions must be completed through the Apple’s own in-app payment system. This ban also covers things like QR codes and cryptocurrencies that might be in the mix to provide some special access to the user. Talk about cryptocurrency, Apple has also mandated crypto exchanges to have “appropriate licensing and permissions to provide a cryptocurrency exchange” in all regions they operate in.

Coming to the social media bit, the tech giant has gone ahead and made a rather explicit statement, which says that any app offering in-built tools for promoting posts also need to use company’s proprietary payment system. The rule, of course, implies another 30% cut for Apple every time a user spends money to boost their post, and as a result, it can make the stated boosts more expensive across platforms like Meta, TikTok, Tinder, and others.

It’s interesting for Apple to introduce such an update, especially after getting the heat that it did from the developers’ community. Leave criticism, the company exuberant fee even got it into a high-profile legal dogfight with the Fortnite developer, Epic Games. Nevertheless, with the latest development, it’s hard to see a drastic change in the picture anytime soon.

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