Apple blocks latest version of Coinbase Wallet: NFT users shut down?

Apple doesn’t understand blockchain – The NFT were the center of attention during the last bull run. Although the euphoria has subsided, the latter is still being talked about. However, not everyone understands how it works. This is especially the case withApple just submitted deviating requests to Coinbase.

Apple: NFT yes, but not without commission

At the end of September, the company Apple spoke about her review its NFT policy. It is more specifically at the App Store level that things have changed.

Thereby, Apple has allowed the sale of NFTs in App Store apps. However, these purchases must go through Apple’s in-app purchases and so are subject to platform fees.

In practice, Apple takes a 30-35% commission of the price on every NFT purchase created in the App Store depending on the country.

Part of the NFT community then came forward and stated that Apple would destroy the NFT application business.

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The situation becomes ridiculous

As the wave seemed to pass, a new twist emerged Apple’s total misunderstanding of this ecosystem.

So on December 1, the giant Coin base warned its users that they would no longer be able to send NFTs from the Coinbase app on IOS. This suspension follows a blocking by Apple of the latest version of the application.

Coinbase Unveils Apple Block – Source: Twitter.

However, the situation takes a very different turn when Coinbase reveals the reasons given by Apple.

“Apple claims that the gas charges required to ship the NFTs must be paid through the in-app purchase system so that it can collect 30% of the gas charges. »

Yes, Apple actually wants to collect 30% of gas fees paid on a blockchain for sending NFTs. A downright grotesque situation, as Coinbase points out in the rest of its thread.

“For anyone who understands how NFTs and blockchains work, that is clearly impossible. Apple’s own system for in-app purchases doesn’t support cryptocurrencies, so we couldn’t comply even if we tried. »

Indeed, the gas charges incurred when sending an NFT have nothing to do with the Coinbase app itself. Therefore, it would be impossible for Apple to collect the 30% gas charge.

The situation will still have bitterly amused the crypto community, aware of the absurdity of the situation. As noted by Coinbase, it’s like Apple wants to get a share of the cost of sending emails.

But when it comes to profiting from a crypto-related event, Apple knows it. That’s right, the streaming service Apple TV+ is already considering buying the rights to make a movie about the FTX disaster.

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