Coinbase Wallet says Apple requested 30% of all NFT transfer gas fees Coinbase Wallet says Apple requested 30% of all NFT transfer gas fees
Coinbase Wallet wrote that Apple's request was "clearly not possible," adding that "Appleโs proprietary In-App Purchase system does not support crypto."
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Updated: Dec. 1, 2022 at 6:12 pm UTC
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Coinbase Wallet on Dec. 1 revealed that Apple blocked its last application update and requested 30% of all NFT transfer gas fees.
You might have noticed you can't send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature. ๐งต
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
According to the crypto wallet service provider, this was why its users couldn’t send NFTs via their iPhones anymore.
Coinbase wallet wrote that Apple’s request was “clearly not possible,” adding that “Appleโs proprietary In-App Purchase system does not support crypto.
The crypto wallet service provider described Appleโs 30% request as an attempt โto take a cut of the fees for every email sent over open Internet protocols.โ
Coinbase Wallet said:
โApple has introduced new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem.โ
The โApple Taxโ
The crypto community had previously expressed concerns over Appleโs 30% cut on NFT sales made via in-app purchases.
In October, the tech giant said developers would be allowed to issue NFTs on their apps.
However, these NFTs cannot be used to unlock new features or content. Apple also said developers could optimize their apps to facilitate cryptocurrency transactions on only licensed exchanges.
The crypto community reacted negatively to this news, with Epic Games CEO Tim Sweeney saying, โApple’s motivations are only money.โ
Appleโs 30% fee was introduced in 2008 by CEO Steve Jobs. The tech firm takes a reduced fee of 15% fee from developers earning less than $1 million annually.
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Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.