You may have observed that transferring NFTs is no longer supported by the iOS version of Coinbase Wallet. This is due to Apple preventing the most recent release of Coinbase’s app until the feature was turned off.
Apple claims that in order for the company to receive 30% of the gas fee, the gas fees necessary to deliver NFTs must be paid through its In-App Purchase system.
Anyone who is familiar with the operation of NFTs and blockchains would realize that this is not conceivable. Even if Coinbase Wallet tried to abide by Apple’s In-App Purchase method, it would be unable to because it does not support cryptocurrency.
As said by Coinbase Wallet, this is similar to Apple’s plan to charge a fee for each email that is received through open Internet protocols.
The majority of those affected by this policy change are iPhone users who hold NFTs. If you store an NFT in your iPhone wallet, Apple has suddenly made it considerably more challenging to transfer or give that NFT to other wallets or friends.
To maintain its profits at the expense of user investment in NFTs and developer innovation across the whole crypto ecosystem, Apple has set additional regulations.
“We hope this is an oversight on Apple’s behalf and an inflection point for further conversations with the ecosystem,” according to Coinbase Wallet.
“We hope this is an oversight on Apple’s behalf and an inflection point for further conversations with the ecosystem,” Coinbase said.