Google Play: Today, Google Play made a significant change to its policies, enabling developers to include digital assets like non-fungible tokens (NFTs) in their apps and games that are available for purchase there. Businesses that choose to make tokenized assets available for purchase, sale, or earning must disclose in the Play Console of their app that it has components based on the blockchain.
The group product manager for Google Play, Joseph Mills, stated in a blog post shared with CoinDesk that this would enable partners to reimagine “traditional games with user-owned content” and increase “user loyalty through unique NFT rewards.”
Google Play updates policy on blockchain apps
Despite claims that the new regulation will provide blockchain app developers more options, it also has stringent guidelines. Every time a user can buy or earn cryptocurrency and blockchain assets through an application, developers must make a clear disclosure.
Developers are also prohibited by Google’s revised policy from hyping or otherwise “glamorising” prospective revenue streams associated with these assets. Additionally, in accordance with local laws in any locations where the app is accessible, trading, buying, and selling of blockchain assets must be done through authorised exchanges.
Applications that use Non-Fungible Tokens (NFTs) are subject to additional limitations imposed by the new regulation. Applications that use NFTs must be registered as gambling, gaming, and contest applications, or they must completely refrain from exchanging NFTs for cash.
Apps that can be used to remotely manage cryptocurrency mining are allowed in the store, but on-device crypto mining apps are explicitly prohibited.
