Coinbase said on Thursday customers using Apple’s iOS will not be able to send non-fungible tokens (NFTs) on the cryptocurrency exchange’s wallet anymore.
“Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee,” Coinbase Wallet added in a tweet.
Coinbase said it would not be able to comply with the requirement even if it tried as the iPhone maker’s proprietary in-app purchase system does not support crypto.
“Apple has introduced new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem,” said Coinbase.
MacDailyNews Note: Coinbase’s tweets:
Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee.
— Coinbase Wallet 🛡️ (@CoinbaseWallet) December 1, 2022
This is akin to Apple trying to take a cut of fees for every email that gets sent over open Internet protocols.
— Coinbase Wallet 🛡️ (@CoinbaseWallet) December 1, 2022
Simply put, Apple has introduced new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem.
— Coinbase Wallet 🛡️ (@CoinbaseWallet) December 1, 2022
We hope this is an oversight on Apple’s behalf and an inflection point for further conversations with the ecosystem. @apple – we’re here and want to help
— Coinbase Wallet 🛡️ (@CoinbaseWallet) December 1, 2022
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Apple doesn’t have to support every tulip mania Ponzi scheme trying to hitch a ride. Fraud with a smile is still fraud.