Coinbase states Apple demands 30 percent cut of NFT gas fees before wallet upgrade!
Coinbase's latest digital wallet update is being held hostage by Apple. The latter wants 30 percent of NFT gas fees before it allows the update!
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| Apple is holding Coinbase's digital wallet update behind 30 percent share on gas fees |
Apple: 30 percent share on NFT gas fees or no app update for Coinbase digital wallet
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. 🧵
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
According to Coinbase, Apple's action may make cryptocurrency challenging for iPhone users to send NFTs between wallets.
Coinbase also added that Apple wants gas prices to be paid using a mechanism that deducts 30 percent from all in-app purchases made for software running on Apple devices. However, a tweet from the Coinbase Wallet Twitter account asserts that this isn't even feasible, likening it to Apple wanting to charge for each internet-based email sent. Apple typically levies a 30 percent fee for any app purchased through its app store as well as for any in-app purchases made.
The conflict between Apple and Coinbase Wallet is the most recent example of how the tech giant's control over the apps in its ecosystem has come under fire. The company started allowing apps on its App Store to sell NFTs in September, as long as it continued to receive a 30 percent cut of each sale. In all fairness to Apple, Google Play Store also has a 30 percent fee imposed.
Coinbase is not alone in this sentiment though. Meta, Twitter, and Spotify, along with other internet and Web3 upstarts, also criticized Apple for its ways of dealing with apps and its developers. Web3 side companies such as Animoca Brands believe that Apple's 30 percent fee would drive away blockchain-based companies from the platform.
They also believe that Apple charges companies and developers 30 percent because they simply can since it is Apple.
What do you guys think?
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