Coinbase Says Apple Is Requesting 30% Cut in NFT Gas Fees Before Wallet Updates

Coinbase said on Thursday that Apple is blocking the latest update to its digital wallet on iOS until the crypto exchange shares 30% of the gas fees from selling NFTs or disables the ability to send them.

Coinbase claims that Apple wants gas fees paid through a system that offers a 30% discount on all in-app purchases for apps on Apple devices. But a tweet by Twitter The account for Coinbase Wallet claims that this is not even possible, comparing it to Apple wanting to cut down on every email sent over the internet. Apple typically charges a 30% fee for any apps sold through its app store, as well as for in-app purchases, such as buying more networks on the web. crushed candy or a clear skin Minecraft.

“Apple’s proprietary In-App Purchase system doesn’t support crypto so we couldn’t comply even if we tried,” read a tweet Thursday from Twitter Account Coinbase Wallet. Another tweet from this account read: “The biggest impact from this policy change is for iPhone users who own NFTs – if you keep NFTs in your iPhone wallet, Apple will make NFT transfers that to other wallets becomes a lot more difficult. or give it to friends or family.

Coinbase CEO Brian Armstrong also participated.

“A prime example of the kinds of discussions we have with Apple on a monthly basis, in response to their app store monopoly. Sometimes it gets quite absurd, he tweeted on Thursday.

The standoff between Apple and Coinbase Wallet is the latest criticism of the tech giant’s control over the apps in its ecosystem. In September, the company started allowing apps on its App Store to sell NFT, as long as they still get 30% off each purchase. Android Google The Play Store has the same 30% fee.

Leaders of other major tech companies, including Mark Zuckerberg of Meta, Twitter’s Elon Muskand Spotify CEO Daniel Ek also criticized Apple for its tight control over apps.

Apple did not respond immediately Luckrequest comment.

The move has drawn criticism from prominent business leaders in traditional internet and emerging Web3 companies. Tim Sweeney, whose company Epic Games sued Apple in 2020 for alleged antitrust violations, said in a September tweet that the tech giant “is killing all the businesses that use NFT that it can’t tax.”

On the Web3 side, co-founder and executive chairman of Hong Kong-based Animoca Brands Yat Siu told Luck earlier this year that Apple’s decision to impose a 30% fee would put blockchain-based companies out of business.

“The problem with Apple is that they charge you 30% because they are Apple, there is no other explanation,” Siu said. Luck at that time.

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