Leading crypto exchange Coinbase has disabled non-fungible token (NFT) transfers on its iOS wallet app as Apple requests a 30% cut of any Ethereum gas fees paid NFT transactions via the wallet app.
Coinbase Disables NFT Transfer on the iOS App
Coinbase took to Twitter to announce that Apple is demanding it pays its gas fees using Apple software, as part of the highly criticised in-app purchase policy the company announced in October.
According to Coinbase, users can no longer send NFTs on the Coinbase iOS app because “Apple blocked our last app release until we disabled the feature.”
The move is part of Apple’s plan to “collect 30% of the gas fee” of in-app purchases. According to Coinbase, the policy aims at protecting Apple’s profit at the expense of consumer investments. Coinbase tweeted:
Simply put, Apple has introduced new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto e
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