Yugocean
Valued Contributor
Apple has disabled the NFT feature of the Coinbase Wallet app, so Apple users can no longer exchange NFTs on Coinbase Wallet. Apple's fee-collection policy may cost it its market.
Apple has put in place new policies for their financial strength in the NFT market that require paying the gas fees required to send NFTs through their in-app purchase system to make it able to collect fees.
Apple is trying to collect 30% of the gas fee on everything these days. Elon Musk also questioned this policy of Apple when it blocked Twitter in the same way.
Coinbase says that NFTs and blockchains cannot work on such things, so no one will been able to follow such a policy.
So far, this problem has only affected Coinbase, but if Apple applies this policy to others as well, it may lose its market share in the digital world as the world keeps moving towards crypto.
Apple has put in place new policies for their financial strength in the NFT market that require paying the gas fees required to send NFTs through their in-app purchase system to make it able to collect fees.
Apple is trying to collect 30% of the gas fee on everything these days. Elon Musk also questioned this policy of Apple when it blocked Twitter in the same way.
Coinbase says that NFTs and blockchains cannot work on such things, so no one will been able to follow such a policy.
So far, this problem has only affected Coinbase, but if Apple applies this policy to others as well, it may lose its market share in the digital world as the world keeps moving towards crypto.
