Coinbase said it has disabled NFT transfers for its mobile wallet on Thursday. Apple wants 30% of all NFT gas fees to be paid through their In-App Purchase system, the crypto exchange said. “For anyone who understands how NFTs and blockchains work, this is clearly not possible,” Coinbase said. Loading Something is loading.
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Coinbase Global disabled its mobile wallet’s non-fungible token (NFT) transfers for users on Thursday, citing discrepancies over Apple’s store policies.
“You might have noticed you can’t send NFTs on Coinbase Wallet iOS anymore,” the crypto exchange tweeted. “This is because Apple blocked our last app release until we disabled the feature.”
Coinbase added that Apple’s policies “protect their profits at the expense of consumer investment in NFTs.”
Apple wants 30% of all NFT transfer gas fees to be paid through their In-App Purchase system, according to Coinbase, which likened it to taking a cut of fees for every email that goes over open Internet protocols.
But it would be impossible for Coinbase — or any company that utilizes blockchain technology — to comply with such a request.
Apple’s mobile store can typically charge up to 30% commission on in-app purchases, but gas fees don’t occur within the app. Gas fees, which are the charge a user pays to perform a function on a blockchain, keep its network running. Therefore, you can’t pay for gas fees using Apple’s software.
Apple did not immediately respond to Insider’s request for comment.
“For anyone who understands how NFTs and blockchains work, this is clearly not possible,” Coinbase said. “Apple’s proprietary In-App Purchase system does not support crypto, so we couldn’t comply even if we tried.”