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Breaking: Coinbase Blames Apple For Disabling NFT Transactions

source-logo  coingape.com 01 December 2022 14:30, UTC

In a major development, Coinbase Wallet has issued a statement where it states, Apple has blocked their latest app release, which has led to users not being able to send their NFTs. As per Coinbase, Apple has claimed that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee.

Apple Vs. Coinbase

Coinbase, further went on to point out that, the demand by Apple is completely unjustified as it’s clearly not doable in practical terms. Apple’s proprietary in-app purchase system does not support crypto so Coinbase, couldn’t comply even if they tried.

The biggest impact from this policy change is on iPhone users that own NFTs – if you hold an NFT in a wallet on an iPhone, Apple just made it a lot harder to transfer that NFT to other wallets, or gift it to friends or family.

— Coinbase Wallet (@CoinbaseWallet) December 1, 2022

The “30 percent fee” has been a contentious point between the world’s most valuable company and other app developers like Spotify and “Fortnite” maker Epic Games, which have accused the company of misusing its “monopoly”.

  • Apple
  • coinbase
  • Coinbase Wallet
  • NFT