cryptonews.com
Search engine behemoth Google has revised its advertisement policy on cryptos, allowing blockchain-based non-fungible token (NFT) ads, as long as they adhere to ad requirements and do not advocate gambling-related content.
The revised crypto update will allow advertisers offering NFT games to promote products and services such as purchase of in-game items like virtual apparel for a player’s characters, weaponry, or armor with better stats used in a game to enhance a user’s experience.
Beginning September 15, 2023, advertisers offering NFT games that do not promote gambling-related content may advertise those products and services.”
However, Google will continue to prohibit game ads where players can wager or stake NFTs to win cryptos or other NFTs. The update further said that simulated casino games that reward NFT will remain banned and advertisements that promote NFT-integrated “real money gambling” will not be allowed.
Crypto Ad Ban Lifted?
Google banned any crypto-related advertising across its online platforms in 2018, citing the potential for consumer harm. Scott Spencer, Google’s director of sustainable ads, said at the time that the business would continue to treat cryptos with “extreme caution.”
However, in 2021, the Mountain View, California-based company partially lifted the ban, allowing advertisers that offer “cryptocurrency exchanges and wallets targeting the United States,” provided they registered with the US FinCEN or a federal chartered bank entity.
The latest relaxation over blockchain-related ads reflects the growing trend of NFT gaming, with more investors pumping capital into development and esports, getting their voices heard for experiences that could have been previously unavailable.
The ad policy amendment further said that NFT-related gaming advertisers “will need to comply with the Gambling and games policy and receive the proper Google Ads certification.”
It also reminded advertisers to comply with the local laws for the region that the ad is intended to target. “This policy will apply globally to all accounts that advertise these products,” the update added.
Advertisers that violate the policy change will first receive a warning, at least 7 days, before account suspension.