Apple’s move is likely to benefit applications focused on NFTs, as well as possibly allow an opportunity to make mobile crypto transactions through Apple gadgets
The American tech giant Apple is about to move away from its long-held strict policy concerning external iOS apps on its iPhones and iPads. The initiative was pushed by the new strict European law, dubbed the Digital Markets Act, that goes into effect in Q1 2023. The move is likely to benefit applications focused on NFTs, as well as possibly allow an opportunity to make mobile crypto transactions through Apple gadgets. Although the new regulations are coming into force just in a couple of months, US companies won't have to adjust to all the rules until 2024.
As part of the update, Apple users will be able to install apps from external sources on iPhones and iPads, bypassing App Store rules, as well as Apple's restrictions, including the up-to-30% commission on payments. For years, average users and app developers have complained that Apple takes over too much control. The new European law, which is aimed at leveling the playing field for third-party developers, will definitely improve the user experience, giving them more power.
Thus, the Digital Markets Act obliges technology companies to allow the installation of third-party apps. The rules demand that messaging services work together, providing outside developers with full access to core features within applications. These updates will apply only to tech companies whose market valuations reach at least €75 billion ($80 billion), alongside the minimum of 45 million monthly users in the EU. Apple, for which the European market is the second one after the US, falls under these criteria. So, Apple aims to adopt the new regulations in the EU market with the release of its iOS 17 software update, scheduled for fall 2023.
These changes come amid growing pushback to Apple’s closed ‘walled garden’ ecosystem, which aborts web3 decentralized aesthetics and puts sticks into the NFT wheels. As of October's announcement, Apple updated its developer guidelines, allowing NFTs within App Srore applications, though prohibiting additional features or content.
For now, according to Bloomberg, the tech giant is still doubting "whether to allow third-party apps to use their own payments infrastructure, rather than force developers to route payments through Apple’s own payments setup."
Regardless of Apple's decisions, the upcoming shift, if implemented, will definitely change the strict ban on cryptocurrency and NFT transactions through iPhone and iPad apps.