Apple will impose a standard 30% tax on NFT purchases
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Apple published on Monday, a series of updates to the App Store Terms of Use. Among other things, the company confirmed that users are allowed to trade non-fungible tokens (NFT) through applications in the App Store, however, all such transactions must be made exclusively through Apple’s internal payment system. This means that all NFT transactions in the company’s ecosystem will be subject to the company’s standard tax of 30%.
Last month, a number of media outlets reported that Apple decided to allow NFT trading through applications in the App Store, while the company did not issue official notices about this. In addition, NFT trading has not yet been reflected in the App Store terms of use.
Note that the 30% commission has become subject to judicial trial between Apple and game developer Epic Games in 2020. As a result, the California District Court did not recognize the fees as excessive, and Apple as a monopolist in the market, but at the same time ordered the company to give developers the right to accept payments not only through the App Store payment system. As a result, Apple accepted decision to reduce the commission for some developers. Their fees, already under pressure from the public and developers, also reduced Google and Microsoft.
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