Apple App store Against NFT? – Katoch Tubes

Apple discouraging  NFT trend

What's the news?

NFT startups are abandoning listing on Apple App Store due to its high commission & tough rules.

What's Apple is charging

Apple is charging a flat 30% commission on every in-app purchases of NFTs. While the NFT marketplace charges just 2-3% of the transaction. 

Apple proposed deal

Apple further reduced the commission from 30% to 15% for firms earning under $1 million annually but it didn't impress the marketplaces

Response from marketplaces

Its difficult for Marketplaces  to breakeven at the rate proposed by Apple App store. Therefore, everyone is avoiding listing on the Apple app store.

The NFT market forecast

Acc. to Juniper Research, the global number of NFTs transactions is likely to rise from 24 million in 2022 to  40 million by 2027.

Fastest growing segment

Metaverse linked NFTs will be the fastest growing segment over the next 5 years with 9.8 million transactions by 2027

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