Finst

Apple lets NFT sales happen — for a hefty fee

Apple allows NFT sales in its App Store.

By Finst News
• 2 min read
Apple lets NFT sales happen — for a hefty fee

Apple lets NFT sales happen in its App Store. A lot of startups are still unhappy.

According to the news site The Information, Apple now allows the sale of NFTs in its App Store. Startups must pay a 30 percent fee on every transaction for their service. This is standard for Apple. According to The Information's report, many small companies are protesting and even restricting certain functionalities to dodge the fees.

The pushback against the 30 percent rate has been ongoing for a long time. The Fortnite creators, Epic Games, for example, have been in court with the tech giant since 2020. Meta has unlocked NFTs in its apps some time ago. Starbucks has rolled out an NFT royalty program.

The NFT market, however, has cooled. It is down 99 percent from its peak.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.