Apple Inc. (NASDAQ:AAPL) recently loosened the rules of its iOS App Store, and some experts expect this to have a major impact on non-fungible tokens (NFTs).
What Happened: The iOS App Store rule changes allow more freedom in how all developers can communicate with customers and lower its commissions for smaller developers to 15% for three years, according to a Coindesk report.
While the commission on in-app purchases is often circumvented by having customers pay through their web browser, Apple had rules against letting developers guide customers toward alternative payment methods if the users were acquired through the app.
This prevented smaller developers without major brand recognition from establishing direct billing relationships — until now.
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Why It’s Important: Simon Kertonegoro, CEO of MyMetaverse and marketing adviser at NFT giant Enjin, described the change as “a landmark case for the NFT industry.”
Soon, “NFTs will be sold on websites, games, apps and decentralized marketplaces all over the internet” and will be used in iOS apps as well, he said.
Similarly, blogger and NFT investor Mateen Soudagar described the development as “a big win for the NFT industry.” According to him, “the NFT industry [will] look vastly different […] and expanding to mobile is definitely a catalyst to get there.”