NiftyNoon: Apple Clarifies NFTs on iPhones

For October 25, 2022

Nifty Analysis

• Reactions to Apple’s NFT guidelines seem to be mixed. On one hand, Apple clarifying its approval of NFT sales within iOS apps is exciting. The current mobile NFT experience is very poor and any path to mainstream adoption will likely include a heavy emphasis on mobile. On the other hand, the introduction of restrictions designed to preserve Apple’s 30% fee on in-app purchases is troublesome to many people. This is a market where people are eager to switch marketplaces to simply avoid a 2.5% fee; 30% is unbelievable to many current NFT participants.

• Nonetheless, in the long run, this 30% cut may be accepted in some circumstances for NFTs. Today’s mobile in-game skins and currencies largely pay this cut to either Apple or Google and have become wildly popular and profitable for both developers and these big tech app store owners. With this context, it is perhaps most crucial that Apple is enabling a feasible path to onboarding millions of new users. The restrictions are a tough pill to swallow but may ultimately prove to be beneficial.

Project News

• Apple clarifies its approval of the sale of NFTs within iOS apps so long as NFT ownership “does not unlock features or functionality”:

  Jane Manchun Wong @wongmjane

  Apple updated their App Store Review Guideline to prohibit NFT as a means to bypass Apple’s in-app purchase mechanism > Apps may allow users to view their own NFTs, provided that NFT ownership does not unlock features or functionality within the app developer.apple.com/news/?id=xk8d7…

  

  Daniel Mason @dgmason

  Today, Apple released new rules for crypto apps (especially web3 games) in the App Store. Apple's stance on NFTs, crypto, and payments will have a massive effect on the industry. A 🧵 featuring critical points, my takeaways, and winners/losers based on initial reading:

• Tiffany and Co. sends NFTiff holders sneak peek of their custom CryptoPunk pendants:

  Alexandre Arnault @alexarnault

  NFTiff holders, check your inbox on 10/26 for a first look at your custom 1/1 ⁦@TiffanyAndCo⁩ pendant. Sneak peak here 👇

  

• Rimowa announces their NFT collaboration with RTFKT detailing a custom physical suitcase and a limited-edition NFT:

  RIMOWA @RIMOWA

  German craftsmanship goes to the metaverse. Embark on a quest to the RIMOWA x @RTFKT Space Station to uncover the limited-edition collection of NFTs and a physical suitcase, launching October 27th. Tap the link in bio for more details on the collaboration. #RIMOWAxRTFKT

Community News

• Subreddit community dedicated to trading Reddit Collectibles bans well-known Bored Ape Yacht Club collector Franklin, sparking many NFT twitter posters to join the subreddit to defend him:

  Franklin has 60 apes 🦧🦧🦧🦧🦧🦧🦧🦧🦧🦧🦧🦧🦧 @franklinisbored

  Here is the top post today in Reddit’s @r_avatartrading, and the comments are super entertaining 😂😂😂:

  

• The Hands #1 Reddit Digital Collectible Avatar purchased for 30 ETH:

  u/jwpapi @u_jwpapi

  Bought The Hands #1 Reddit Avatar for 30ETH by @rojomcoin 3 weeks ago was assumed gone. As it was never moved and sat on an never used Reddit account. I digged the blockchain and found it was actually minted a day before official release. @rojomcoin asks Reddit about it and …

  

Quick Stats:

• OpenSea USD Daily Volume: $7.74M (▲ 8.06%)

• OpenSea ETH Daily Volume: 5,617 ETH (▲ 3.65%)

• BTC: $19,382.28 (▲ 0.13%)

• ETH: $1,363.00 (▲ 1.53%)

• Solana: $28.63 (▼ 0.60%)

NFT Daily Winners:

• Chromie Squiggles: 12.80 ETH (▲ 2.40%)

• Clone X: 8.20 ETH (▲ 0.61%)

• Bored Ape Yacht Club: 71.80 ETH (▲ 0.56%)

• Proof Collective: 40.50 ETH (► 0.00%)

• Azuki: 11.49 ETH (► 0.00%)

• VeeFriends: 6.50 ETH (► 0.00%)

NFT Daily Losers:

• Mutant Ape Yacht Club: 13.00 ETH(▼ 0.51%)

• Doodles: 7.15 ETH (▼ 0.56%)

• CryptoPunks: 65.00 ETH (▼ 2.18%)

• Moonbirds: 8.75 ETH (▼ 2.56%)

• DigiDaigaku: 10.90 ETH(▼ 2.68%)

Notes:

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• Created by @AxuETH, @jpegprez, @SSPxLEO, @SpeedyGonzale87 and @xhuewa