Should Crypto Games Be Worried about Apple’s 30% NFT Tax?

Should Crypto Mobile Games Be Worried about Apple's 30% NFT Tax?

Game developers are not happy with Apple’s in-app payment service fees

Apple announced it would charge up to 30% “Apple Tax” on NFTs sold within iOS apps. As more and more developers consider offering mobile-friendly decentralized apps for their users, how will this policy affect them?

Summary:

  • Epic Games CEO Tim Sweeney criticized Apple for its overpriced service charge.
  • How does this affect blockchain games with native mobile apps in general?
  • Are there many mobile-friendly crypto games on the market?

Apple makes iOS-based games pay a 30 percent tax on their in-app sales, which includes in-app purchases of NFTs. Epic Games CEO Tim Sweeney criticized Apple in a Twitter post, saying it is “killing” the NFT app business. He added, “crushing another nascent technology that could rival its grotesquely overpriced in-app payment service.” 

Revealed by The Information, the leading NFT marketplace on Solana, Magic Eden has decided to withdraw its services from the App Store. Magic Eden recently announced that its community can now access NFTs on Ethereum.   

How does this affect blockchain games with native mobile apps in general?

In fact, Apple is not the only one imposing a 30% tax on in-app purchases, and Google Play does the same. The only difference is that Google has not yet explicitly stated that it would include NFT as a tax target. 

Apple users do have stronger purchasing power compared to Android users. From the disclosed data, Apple’s App Store outperformed Google Play in terms of revenue in FY20 and FY21, even though the latter has more users. 

Google previously announced that on July 1, 2021, for the first $1 million earned by developers every year, Google Play would reduce its “tax” from 30% to 15%. That is, for small businesses and independent developers with less than $1 million in annual revenue, lowering the Apple tax from 30% to 15%. In addition, Apple has similar discount terms.

Considering the above information, it may be more important for emerging crypto games to find effective user touch points to increase exposure rather than worry about how much these app stores will tax.

What are some of the popular mobile-friendly crypto games?

DappRadar is The World’s Dapp Store, the one location where users can discover everything they want to know about dapp, whether it’s the metaverse, gaming, DeFi, social, and more.

At DappRadar, we track various blockchain games and their real-time metrics performance. Moreover, we have found that many great blockchain-based games have launched iOS and Android apps, offering users the smoothest native gaming experience.

Let’s have a look at the most popular ones!

Upland is a Monopoly-inspired virtual world that allows players to construct, buy and flip digital real estate in simulated lands designed to mirror real cities. Aside from being virtual real estate tycoons, Upland players can collect in-game items as NFTs, own and race cars, attend music concerts and start their businesses.

Check out this article if you want to become a master of this game.

Sweatcoin builds the project on the NEAR blockchain. SWEAT Wallet is gamified fitness dapp adopting the move-to-earn concept. Sweatcoin builds the project on the NEAR blockchain. In the dapp, users mint SWEAT tokens as they walk. Sweatcoin is the company building the tokens, apps, and Sweat coin wallet, which is necessary for earning the SWEAT token by walking. 

Read this article if you are interested in how to sweat and earn.

Another mobile-friendly gaming dapp with a recent surge in users is Benji Banana. The game made its debut in 2013. This year, its creators added Polygon-enabled play-to-earn element. Users can swing through trees and collect rewards. Moreover, it is free to download.

Want to get a handle on those play-to-earn mechanics, follow this link and read on to find out.

Carry your Web3 journey with you

With the DappRadar mobile app, never miss out on Web3 again. See the performance of the most popular dapps, and keep an eye on the NFTs in your portfolio. Your account on DappRadar syncs with our mobile app, giving you soon the option to receive alerts live as they happen.

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