Apple disables Coinbase Wallet's NFT-sending feature on iOS

Apple disables Coinbase Wallet’s NFT-sending feature on iOS

News, NFT news

Because of a disagreement about an in-app purchase, the well-known NFT and cryptocurrency software Coinbase Wallet has alerted users through a Twitter thread that Apple has disabled the NFT-sending capability on iOS devices. Additionally, Coinbase reported that Apple has prevented the distribution of their most recent app update unless the NFT-sending capability is removed.

Coinbase said that the reason Apple wants the gas charge necessary to transfer NFTs to be paid via its In-App purchase system rather than directly by users is so that Apple may retain thirty percent of the gas fee. Coinbase also pointed out that Apple’s request is unfeasible since Apple’s proprietary In-App purchasing mechanism does not handle cryptocurrencies. This means that even if Coinbase sought to comply with Apple’s request, it would be impossible.

Coinbase continued by saying that this situation is analogous to Apple attempting to steal a portion of costs for each email that was delivered via open internet protocols. As a result of Apple’s action, iOS users are now in a difficult position since they must go through a long procedure in order to transfer NFTs.

Coinbase came to the conclusion that “Apple has established new regulations to safeguard their profit at the price of customer investment in NFTs and developer innovation throughout the crypto ecosystem.” To put it another way: “Apple has introduced new policies to protect their profit.”

This change will very certainly have an effect on iOS users who store their NFTs in the Wallet app on their iPhones. However, it is impossible to determine if the judgment will be reversed or whether it would continue to cause anguish to the community that was harmed.

Compiled by Coinbold

Coinbase, NFT