Google Play Store to Allow NFTs and Tokenised Digital Assets in Android Apps
Google has announced an update to its mobile software marketplace policy, enabling app developers to integrate non-fungible tokens (NFTs) into their games on the Google Play Store. This policy update reflects the industry’s call for greater transparency and clearer guidelines surrounding NFTs and tokenised digital assets.
As part of the policy update, Google emphasizes the importance of transparency, requiring developers to provide clear information to users about the presence of tokenised crypto assets within their apps. The company stated in an official blog post, “We’re requiring that apps be transparent with users about tokenised digital assets.” This commitment to transparency aligns with the industry’s efforts to promote responsible NFT usage.
Furthermore, the policy prohibits developers from promoting or glamorising potential earnings from playing or trading activities associated with these crypto assets. This measure aims to ensure users are well-informed about the nature and implications of NFTs within mobile games.
The decision by Google marks a significant milestone in accelerating the adoption of Web3 games and game NFTs, according to Manish Agarwal, Founder of IndiGG DAO. Agarwal said, “[This] could be one of the most significant milestones in accelerating the adoption of Web3 games and game NFTs. 2024 will be super exciting with amazing games getting released on Google Play. However, it is still not clear how Google will apply tax on P2P transactions.”
Earlier this year, Google had expressed its interest in exploring policy changes to facilitate the inclusion of NFTs in Android games. Now, the tech giant has unveiled its new rules, with full implementation expected by the end of the year. Initially, Google is collaborating with select developers for NFT integration, and later this year, it will allow all developers to create games in line with its crypto-gaming policies.
Bharat Patel, Chairman and Director of Yudiz Solutions, believes that Google’s decision will have a profound impact on the mobile gaming industry. Patel stated, “This decision will contribute to the 33% CAGR of the NFT gaming market, which was already starting to gain momentum. It has been witnessed that more than 40% of crypto enthusiasts and investors are ready to invest in the NFT gaming market.”
In contrast to Google’s approach, Apple’s App Store has traditionally maintained a more restrictive stance on NFTs and cryptocurrencies. While developers can use NFTs within iOS games and apps, Apple applies a 30% commission.
