Google Play product Manager Joseph Mills recently announced that Google has updated its mobile software market policy to allow game developers to explore new ways to bring NFT transactions to games in the Google Play App Store.
Google Play product Manager Joseph Mills recently announced that Google has updated its mobile software market policy to allow game developers to explore new ways to bring NFT transactions to games in the Google Play App Store.
Companies that decide to offer the ability to buy, sell or earn tokenized assets will be required to make it clear in the Play Console that there are blockchain-based elements in the app.
NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. Mills noted that Google’s new change will allow apps and games on Google Play to redefine “traditional game user-owned content” and increase user loyalty through unique NFT rewards.
NFTS are hot in the crypto industry. NFT is a digital asset based on blockchain technology, and each NFT has a unique identity and ownership that can represent any type of digital or physical asset.
Google’s recently announced NFT policy, which opens up more creativity and business opportunities for developers, is an important milestone as the NFT market continues to expand and grow. It gives more people the opportunity to participate in and benefit from NFT.
NFT was once the hottest asset in the crypto industry, with many celebrities actively involved, but the failure of FTX sent the industry into a cold winter. The NFT market began to be stirred up at the end of 2021, and the first half of 2022 became the outbreak period of NFT digital collections.However, in the second half of last year, with the announcement of the bankruptcy of the large exchange FTX, Global NFT sales fell 38% in June from a year earlier to $653 million.
Google’s new policy has similarities with Apple’s previous actions.
Last October Apple had already released guidelines to regulate cryptocurrency transactions on the App Store platform, which covered the use of NFTs within apps and games.
Brian Armstrong, the chief executive of the cryptocurrency exchange Coinbase, publicly criticized Apple’s in-app trading policies last year, calling the App Store a pure monopoly.
