Apple allows to buy/sell NFTs in the App Store
The big company Apple now allows NFT in-app purchases for software listed on the App Store for a 30% commission on sales.
In a notification sent to developers, Apple states that if any application has an NFT sale, it must be done within the application and included in the 30 percent income deduction.
Some people consider the comission as "grotesque overpriced". Let's see why:
The comissions the NFT marketplaces charge from each buy/sell is:
- Opensea: 2,5%
- Foundation: 5%
- SuperRare: 15%
- Magic Eden: 2%
The Apple rates are indeed exorbitant compared to the existent NFT marketplaces, but let's think about the pros and cons.
Pros: This action could potentially onboard hundreds of millions if not more into NFTs & crypto, because it's a recognition about the mere existence of crypto and the NFTs as digital assets
It could be a huge win for Crypto/NFTs enthusiasts that have been listening to arguments like "NFTs are scam" or "NFTs are a bubble".
Because as Gerard Eakedale said:
"Recognition is the greatest motivator"
If we take under consideration the recent declaration of other big companies like Disney, Nike, The Chicago Bulls - each declaration opens the door to the mass adoption.
One sector that could probably accept the big commissions is the gaming sector, there are around 4 billion gamers playing online right now, but it's estimated that less than 100k are playing crypto games so, the integration in the iOS app could onboards thousands or millions of players.
Cons: Apple is still enforcing their 30% cut of any NFT sale, so under Apple's rules, companies would lose heavily on every deal.
Many NFT project will accept that 30% by the main reason that there are 100 million apple users, and now anyone with an iPhone can buy or sell NFTs, it indicates the beginning of the integration web2-web3.
The big challenge is that the core distinctive feature of Web3 is the decentralization of business models. So, integrate Web3 technologies into web2 centralized business models looks like not compatible at all but it's still early to make conclusions.