Apple Sticks with 30% App Store Fee for NFTs Despite Community Outrage

Despite widespread outrage from the Web3 community, Apple will not exempt NFTs from its 30% App Store tax. This is according to a policy update published by the tech giant earlier this week, in which it explained its regulations for iOS applications that handle NFT minting, purchasing, and selling.

This is the first time Apple has published explicit rules for NFTs in its App Store. One criterion is that applications do not provide exclusive access to NFT owners or link their users to third-party sites where they may buy, sell, or mint outside of the Apple ecosystem, so avoiding costs. Furthermore, the applications must be licensed in each location in which they function.

The change comes a month after reports circulated that Apple planned to collect 30% fees on all NFT purchases made within its apps. This elicited varied comments, with many claiming that the commission rate was overly expensive, especially when compared to standard NFT markets, which charge roughly 2.5%.

According to Tim Sweeney, an NFT champion, the exorbitant fees were crushing developers and did not foster the sector’s expansion. Other NFT supporters went so far as to term the fees “abusive.”

Analysts and investors have also been critical of the fees. According to Foss Patents, the actual app tax would be higher than 30% because developers will have to pay additional costs for search adverts displayed on individual app pages.

However, not everyone is opposed to the payments, with some seeing the benefits of Apple allowing NFTs to be sold on its platform.

Limit Break CEO ,Gabriel Leydon, is more than prepared to pay the costs as long as Apple onboards its large user base, which will support the expansion of the NFT business.