Coinbase Reveals Apple Blocked Wallet Update which Included NFT Sales Functionality

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Blockchain
Coinbase Reveals Apple Blocked Wallet Update which Included NFT Sales Functionality

Cryptocurrency exchange, Coinbase, will have to disable NFT transfers in the iOS version of their wallet after a fee policy dispute with Apple forces the company to comply.

Coinbase and Apple NFT Row Escalates

The latest Apple versus NFTs saga could escalate after the company went after Coinbase, banning the wallet’s latest iOS update due to NFT gas fees. Taking to a Twitter thread post, the Coinbase team revealed Apple blocked the latest wallet release until the crypto exchange allows for ‘gas fees’ charges on NFT transfers. 

“You might have noticed you can’t send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature,” writes the Coinbase Wallet team. 

The shakedown by Apple is the latest attempt by the phone company to force service fees on NFT transactions done on its platform. 

As per Apple’s policy, the company charges a 30% tax as the service fee taken from all App developers. Therefore, Apple is liable to tax an equal 30% on all in-app transactions, including crypto and NFT. Apple also claims charging the 30% tax will cater for the gas fees required to transfer NFTs bought through its in-app purchase system. 

However, Coinbase failed to comply with Apple service fee requirements and, as a result, released the new Coinbase iOS wallet. The Twitter post also reveals Apple has refused to approve any upgrades to the Coinbase iOS wallet until the crypto exchange removes the NFT sharing button. 

Coinbase Hits Back 

Coinbase has not taken Apple’s move lightly and stated that the policies were profit-hungry schemes aimed at curtailing the development and innovation of the cryptocurrency world. 

The crypto exchange also calls out Apple in the Twitter thread as being protective of their profits rather than focusing on consumer investments in NFTs and the crypto ecosystem. 

According to Coinbase, Apple’s requirements are unrealistic even if they wanted to meet them since the in-app purchase system does not use crypto. Additionally, Coinbase argues the policy is contentious since it’s similar to Apple charging fees for emails sent over open-source internet protocols. The crypto exchange further adds that Apple’s move only makes NFT sharing harder for iOS users and cuts crypto innovation on the iPhone platform. 

Solana’s Saga Could Prove To Be a Savior 

The Coinbase Apple feud prolongs a month-long saga involving the iPhone maker, and the NFT community on the 30% in-app fee policy. However, Apple’s move to kick out non-complying apps such as OpenSea and Epic Games from its app store has seen calls for alternative platforms and devices. 

In light of this, Solana‘s Head of Communication, Austin Federa, sees this Apple fee row as the perfect time to embrace a different option apart from Apple and Google. He indirectly tweets about Solana’s Saga phone as the answer to Apple’s harsh policies and shakedown in reply to Coinbase’s tweets on the matter. 

The Saga is Solana’s flagship Android smartphone built and integrated with the Solana blockchain for seamless transactions in web3 and management of digital assets such as NFT and tokens. 

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