Coinbase’s Wallet iOS app no longer supports NFT transactions due to Apple’s strict new NFT policies, which were more dangerous in October.
You may have noticed that you cannot send NFTs on me currency base The iOS wallet is longer. This is because Apple blocked the latest version of the app until we disabled the feature,” a Coinbase Wallet account shared on Twitter Thursday.
While NFTs are not completely banned in Apple’s mobile app store, they are subject to a hefty 30% tax on each transaction. If developers fail to implement this requirement, their app will be banned from the store.
Coinbase says Apple wants to charge everyone 30% Gas expenses (No transaction fees Ethereum network) on NFT transfers made through the wallet app, which Coinbase says is “not possible”.
Apple claims that gas fees required to send NFTs must be paid through an in-app purchase system, which allows them to charge 30% of the gas fee.
“For anyone who understands how NFTs and blockchains work, this is clearly not possible,” said Coinbase. “Apple’s in-app purchase system doesn’t support encryption, so we can’t go through with it even if we try.”
Every time a user performs a transaction on the Ethereum network, even when simply transferring an asset such as an NFT to another wallet, the user must pay a fee called gas. This fee Required for the network to function. But they are more complex than fixed fees and cannot be controlled by any single entity.
Gas prices — which are measured in gwei but paid in ETH — vary depending on Ethereum network traffic and the efficiency of Smart contracts coding. More advanced users can choose to pay more to put their transactions closer to the front of the queue.
Coinbase is not happy about these limitations for its mobile app, Connection Apple’s decision is “similar to Apple’s attempt to reduce fees per email sent over open Internet protocols.”
Apple’s controversial fee for in-app purchases has angered many crypto advocates, such as Epic Games CEO Tim Sweeney, who previously fought Apple’s rules on Experience And the He said The tech giant “must be stopped”.
Former YouTube CEO and current Polygon Studios CEO Ryan White has taken a similar stance, calling Apple’s 30% tax “criminal. White believes that the tax “will hinder technological progress forever because of its monopoly on the industry.”
And billionaire CEO Elon Musk isn’t immune to Apple’s scrutiny either frank concern That Apple may remove Twitter from its store (then Musk met with Apple CEO Tim Cook on Wednesday, and it appears that Cook Dispersed these concerns).
good conversation. Among other things, we have resolved the misconception that Twitter is likely to be removed from the App Store. Tim was clear that Apple never considered doing that.
Coinbase said it hopes this decision was merely an “oversight” and that it can be discussed further. It also believes that Apple’s strict NFT fee policy will hinder mainstream adoption of NFT and make it difficult for users to transfer their assets.
“Apple has introduced new policies to protect its profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem,” Coinbase He said.
While cryptocurrency enthusiasts on Twitter downplayed Apple’s restrictions today, others pointed to the possibility Solana’s Saga phonea Web 3– An original mobile device that is still under development and will not have such restrictions. its stream Release Date It is expected to be sometime early next year.
“Today it was Apple, but tomorrow it could be Google,” He said Austin Federa, Solana’s director of communications, in response to the news. We need a third option.
Apple has not yet responded DecryptComment request.
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