Apr 26, 2023
Court Rules Apple Violated State Competition Laws
The implications of a recent ruling from the United States Court of Appeals for the Ninth Circuit may have far-reaching implications for crypto and nonfungible token (NFT) projects. The April 24 ruling found that Apple violated state competition laws by barring app developers from using alternative in-app payment methods apart from its own that included a 30% commission.
The court upheld the decision of a lower court from 2021 and explained that Apple’s anti-steering provision harmed Epic Games, the creator of the video game Fortnite. The anti-steering provision is an Apple policy stating that iOS developers cannot communicate out-of-app payment methods through certain mechanisms such as in-app links.
The decision was met with enthusiasm by Tim Sweeney, the founder and chief executive of Epic Games, who tweeted on April 24 that the ruling “frees iOS developers” by allowing them to direct consumers to alternative payment solutions.
The court’s ruling may have a profound impact on the NFT and crypto space. Apple’s anti-steering provision prevented other app users from becoming would-be Epic Games consumers, the court explained. According to the court, Epic Games would have earned additional revenue had it not been for the policy.
The court also ruled that consumers would have flocked to Epic Games directly had they learned about its much lower commission rate of 12%, compared to Apple’s 30%. This means that if Apple doesn’t appeal the ruling, it could set a case law precedent benefiting creators of crypto and nonfungible token apps by allowing them to avoid Apple’s 30% “tax.”
Decentralized exchange Uniswap is one of the latest crypto projects to make its way into the App Store despite Apple initially withholding its launch in March. The European Union set new anti-monopolistic rules in December which require Apple to permit third-party app stores on its devices and allow consumers to circumvent Apple’s 30% commissions.
However, in December, Apple interfered with NFT transactions sent on Coinbase’s self-custody wallet, claiming that it’s entitled to “collect 30% of the gas fee” through in-app purchases.
The court’s ruling on Apple’s anti-steering provision may open the door for NFT projects to add more functionality to their iOS apps. This could mean an increase in the number of NFTs being sold and an increase in the number of NFT marketing agencies and web3 agencies that specialize in promoting and selling NFTs.
Twitter NFT marketing could become more popular as a result of the ruling, as well as other forms of NFT promotion. This could lead to an increase in demand for NFT marketing agencies that specialize in helping creators promote and sell their NFTs.
The court’s ruling could also lead to an increase in the number of people who are interested in the web3 space and the potential for developers to create new and innovative projects. This could lead to more investment in the space and more opportunities for creators to make a living from their projects.
Overall, the court’s ruling could have a major impact on the NFT and crypto space, and could lead to more opportunities for creators to promote and sell their NFTs. It could also open the door for more innovation in the web3 space and more investment in the space.Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.