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Non-fungible tokens (NFTs) have had plenty of bad press in recent years and for good reason. Despite this, Android app and game developers have been keen to offer them in their products, but Google was wary.
Now, the search giant has updated its policy surrounding NFTs and other blockchain-based digital content within apps and games on Google Play. It will now let developers sell this type of content but they must do so in a safe and transparent manner.
Google said that developers will be required to declare clearly that their apps or games sell or allow users to earn tokenized digital assets. The company has also said that developers cannot promote or glamorize any potential earnings from playing or trading activities.
In addition to the above, apps that have not met gambling eligibility requirements cannot accept money for a chance to win these types of assets. It also said developers can’t offer purchases where the value of an NFT is not clear - this includes ‘offering mechanisms to receive randomized blockchain-based items from a purchase such as “loot boxes”.’
One of the companies that worked with Google to update the policy was Reddit. Matt Williamson, Senior Engineering Manager at Reddit, said:
Going forward, Google is going to be talking with developers to see how it can support them in building sustainable businesses on the back of blockchain technology. Hopefully, Google’s move will help NFTs gain a more respectable reputation than the one they’ve gained to date.
Now, the search giant has updated its policy surrounding NFTs and other blockchain-based digital content within apps and games on Google Play. It will now let developers sell this type of content but they must do so in a safe and transparent manner.
Google said that developers will be required to declare clearly that their apps or games sell or allow users to earn tokenized digital assets. The company has also said that developers cannot promote or glamorize any potential earnings from playing or trading activities.
In addition to the above, apps that have not met gambling eligibility requirements cannot accept money for a chance to win these types of assets. It also said developers can’t offer purchases where the value of an NFT is not clear - this includes ‘offering mechanisms to receive randomized blockchain-based items from a purchase such as “loot boxes”.’
One of the companies that worked with Google to update the policy was Reddit. Matt Williamson, Senior Engineering Manager at Reddit, said:
‘At Reddit we believe in empowering our users by providing transparency and a responsible approach to blockchain-based digital content – like our Collectible Avatars. We partnered with Google to help update their policy, aimed at creating a level playing field that promotes user trust, and responsible usage of blockchain technology. By setting clear guidelines, we can ensure that our users make informed decisions while enjoying immersive experiences.’
Going forward, Google is going to be talking with developers to see how it can support them in building sustainable businesses on the back of blockchain technology. Hopefully, Google’s move will help NFTs gain a more respectable reputation than the one they’ve gained to date.