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 Wants A Cut
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
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The dispute between Coinbase and Apple comes at a challenging time for the cryptocurrency exchange, whose shares have dropped by around 80 percent so far in 2022. In addition, the company has reduced its workforce as a cost-cutting measure in response to the decline in investor interest in cryptocurrencies.
Apple’s Monopoly Raises Concern
The team behind the app notes that Apple has introduced profit-protecting policies that come at the expense of “developer innovation across the crypto ecosystem.” Coinbase Wallet is hoping that this is a mistake and has tweeted an invitation to Apple to discuss the matter further.
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 Vs. Elon Musk
Very recently, the electronics giant also took strong steps against Twitter by completely shutting down its advertising activities on the platform. Elon Musk sarcastically cited that Apple may have been against free-speech and therefore planned on ditching the social media platform for their online marketing.
Read More: Elon Musk Says Apple Has Stopped Advertising On Twitter
Following this, Elon Musk also accused Apple of threatening to remove Twitter from their App Store. On Monday, he tweeted that Apple is allegedly threatening to “withhold” Twitter from its App Store, without specifying the reasons.
Apple has also threatened to withhold Twitter from its App Store, but won’t tell us why
— Elon Musk (@elonmusk) November 28, 2022
However, on Wednesday, Musk met Apple’s CEO Tim Cook, and also shared a video of the Apple headquarter. He claimed that the situation has been resolved between the two and the fact that Twitter could potentially be removed from the App Store was a mere “misunderstanding”. According to Musk, Apple never considered it in the first place.
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- Source: https://coingape.com/coinbase-says-apple-blocked-latest-app-release/
