Google Play Store gives greenlight to NFT games but lays down some ground rules

var TRINITY_TTS_WP_CONFIG={“cleanText”:”Google Play Store gives greenlight to NFT games but lays down some ground rules.u23f8Google Play (NASDAQ: GOOGL) may be loosening its grip onu00a0non-fungible tokenu00a0(NFT) games on its platform after nearly three years of stifling rules.u23f8Google Play announced via au00a0blog postu00a0that it has updated its policy to allow users to u201ctransact blockchain-based digital content within apps and gamesu201d on the platform. Under the new update, game developers may put upu00a0NFTs for sale, but it remains unclear if the new regime will support the secondary trading of digital collectibles.u23f8According to Google Play, game developers are expected to clearly label whether or not their applications allow users to earn or buy tokenized assets. Furthermore, they are expected to declare when in-app products represent tokenized digital assets while being urged to abstain from glamorous promotions of their NFTs.u23f8u201cAnd while tokenized assets are meant to build more enriched, immersive experiences, as an added user protection, developers may not promote or glamorize any potential earning from playing or trading activities,u201d the blog post read.u23f8Google Play warns that developers are restricted from offering digital collectibles where the values are not spelled out at the time of purchase. This is in line with Google Playu2019s policy on Real-Money Gambling, Games, and Contests banning the use of money to speculate on the chances of winning assets with real-world use.u23f8Analysts believe the new update will lead to au00a0spike in NFT gamesu00a0on the app store as developers seek to increase user loyalty via NFT rewards. The development has elicited praise from several industry players, including Reddit and Mythical Games, with both entities set to release digital collectible offerings for their users.u23f8u201cWe really appreciate Googleu2019s partnership in this collaborative effort to bring about innovation in this space and move these new economies forward,u201d Mythical Games CEO John Linden said. u201cWe think these new policies are steps forward for both players and developers alike and will positively impact the adoption of new technology while also protecting consumers.u201du23f8Google Play drew the ire of the digital asset community back in 2020 after itu00a0took downu00a0the Bitcoin Blast application from the store for u201cdeceptive practices.u201d Across the divide, NFT-themed games did not fare well in Appleu2019s (NASDAQ: AAPL) App Store, with developers expected to pay a 30% commission to Apple for every NFT sold.u23f8NFTs divide the gaming communityu23f8As NFT metrics began their painful decline, several gaming publishers are ditching plans to incorporate digital collectibles in their games. Minecraftu2019su00a0banu00a0on NFTs sent shockwaves through the entire gaming community, with Rockster imposing a blanket ban on its servers.u23f8Game distribution giant Steam announced a ban on games supporting the u201cissue or allow exchange of cryptocurrencies or NFT,u201d a move which has been described as a massive blow to their adoption rates.u23f8However, not all gaming firms areu00a0againstu00a0digital collectibles, as Steamu2019s competitor Epic Games has opted to pitch its tent with NFTs.u23f8A Way with Words: NFTs with Cash Flowsu23f8″,”headlineText”:”Google Play Store gives greenlight to NFT games but lays down some ground rules”,”articleText”:”Google Play (NASDAQ: GOOGL) may be loosening its grip onu00a0non-fungible tokenu00a0(NFT) games on its platform after nearly three years of stifling rules.u23f8Google Play announced via au00a0blog postu00a0that it has updated its policy to allow users to u201ctransact blockchain-based digital content within apps and gamesu201d on the platform. Under the new update, game developers may put upu00a0NFTs for sale, but it remains unclear if the new regime will support the secondary trading of digital collectibles.u23f8According to Google Play, game developers are expected to clearly label whether or not their applications allow users to earn or buy tokenized assets. Furthermore, they are expected to declare when in-app products represent tokenized digital assets while being urged to abstain from glamorous promotions of their NFTs.u23f8u201cAnd while tokenized assets are meant to build more enriched, immersive experiences, as an added user protection, developers may not promote or glamorize any potential earning from playing or trading activities,u201d the blog post read.u23f8Google Play warns that developers are restricted from offering digital collectibles where the values are not spelled out at the time of purchase. This is in line with Google Playu2019s policy on Real-Money Gambling, Games, and Contests banning the use of money to speculate on the chances of winning assets with real-world use.u23f8Analysts believe the new update will lead to au00a0spike in NFT gamesu00a0on the app store as developers seek to increase user loyalty via NFT rewards. The development has elicited praise from several industry players, including Reddit and Mythical Games, with both entities set to release digital collectible offerings for their users.u23f8u201cWe really appreciate Googleu2019s partnership in this collaborative effort to bring about innovation in this space and move these new economies forward,u201d Mythical Games CEO John Linden said. u201cWe think these new policies are steps forward for both players and developers alike and will positively impact the adoption of new technology while also protecting consumers.u201du23f8Google Play drew the ire of the digital asset community back in 2020 after itu00a0took downu00a0the Bitcoin Blast application from the store for u201cdeceptive practices.u201d Across the divide, NFT-themed games did not fare well in Appleu2019s (NASDAQ: AAPL) App Store, with developers expected to pay a 30% commission to Apple for every NFT sold.u23f8NFTs divide the gaming communityu23f8As NFT metrics began their painful decline, several gaming publishers are ditching plans to incorporate digital collectibles in their games. Minecraftu2019su00a0banu00a0on NFTs sent shockwaves through the entire gaming community, with Rockster imposing a blanket ban on its servers.u23f8Game distribution giant Steam announced a ban on games supporting the u201cissue or allow exchange of cryptocurrencies or NFT,u201d a move which has been described as a massive blow to their adoption rates.u23f8However, not all gaming firms areu00a0againstu00a0digital collectibles, as Steamu2019s competitor Epic Games has opted to pitch its tent with NFTs.u23f8A Way with Words: NFTs with Cash Flowsu23f8″,”metadata”:{“author”:”Wahid Pessarlay”},”pluginVersion”:”5.7.1″};