In addition to the news that Apple is blocking Coinbase Wallet from the App Store due to the NFT, in today’s NFT News Digest for the past week from November 26 to December 02, you will find:
- Opensea has integrated BNB Chain into its support,
- Animoca Brands creates a $ 2 billion fund to develop the metaverse.
Apple blocks Coinbase Wallet from App Store due to NFT
On December 1, on Twitter, Coinbase Wallet management publicized the fact that Apple has blocked the update of the iOS app until the developers disable the NFT transaction feature through the app. Coinbase Wallet claims that Apple has demanded changes to its internal transaction payment policy. Namely, that gas, that is, the commission for transactions, is paid through the purchase system in the App Store. In this case, Apple will have a well-known commission in the amount of a rather big 30%.
Apple’s claim is that the gas fees required to send NFTs need to be paid through their In-App Purchase system, so that they can collect 30% of the gas fee.
— Coinbase Wallet (@CoinbaseWallet) December 1, 2022
Apple’s in-app purchase system is a clear conflict due to the fact that Coinbase would not be able to meet these requirements even if it tried. To draw parallels, it would be like Apple trying to cut off every email sent on the Internet.
For anyone who understands how NFTs and blockchains work, this is clearly not possible. Apple’s own in-app purchase system doesn’t support cryptography, so we couldn’t enforce it even if we tried. Logically claims Coinbase Wallet in his Tweet.
Thus, Apple is already introducing ultimatum conditions for the entire NFT sector, limiting and placing all market participants in harsh conditions.
Opensea integrates BNB Chain into its support
Marketplace OpenSea continues its comprehensive work to improve its service and now the marketplace has announced that it will support NFT on BNB Chain.
— OpenSea (@opensea) November 29, 2022
Creators and users of the BNB network can now buy and list their NFTs on Opensea. The integration will take place over the OpenSea Seaport protocol, and BNB Chain creators will be able to benefit from multiple creator payouts, real-time payouts, and collection management.
In addition, to support its integration with one of the most powerful networks in the city, Opensea has also added support for Bitkeep. It is an extremely popular multi-chain self-custody crypto wallet widely used in the Asian market.
What is BNB Chain?
BNB Chain is a 100% community-driven, permissionless and decentralized blockchain ecosystem. It was originally initiated by Binance but has now become a separate decentralized network. The BNB network stands for “Build N Build”. This allows developers and innovators to build decentralized applications (dApps) as part of a larger transition to Web3.
As of October 2022, BNB Chain is the largest smart contract blockchain in the world in terms of transaction volume and daily active users. The network has already processed over 3 billion transactions from over 163 million unique addresses.
What will integration from OpenSea give?
- OpenSea’s integration with the BNB chain will improve the NFT trading experience for more than 1 million existing users and new users.
- With BNB Chain integration, the best BNB Chain NFTs like Goodfellas and PixelSweeper will now be available on OpenSea.
- It will also allow creators to avoid high gas fees, make it easier to view signature verification steps, and save new users from having to pay for initialization or account setup.
We are excited to start using Seaport on multiple blockchains, including BNB Chain, to make OpenSea a better experience for everyone. This update will make it easier to reach even more users and creators on the networks they prefer. Said Jeremy Fine, head of business and corporate development at OpenSea.
Animoca Brands creates a $2 billion fund to develop the metaverse
Web3 giant and prominent NFT investor Animoca Brands announced the launch of Animoca Capital’s fund of up to $2 billion to invest in the metaverse and Web 3.0. This was announced in an interview with Nikkei Asia by the co-founder of the company Yat Siu.
Read the full story: https://t.co/92Y3uYzrym
— Animoca Brands (@animocabrands) November 30, 2022
He clarified that the structure called Animoca Capital is still being formed and has not started raising money. The fund will focus on the “open to NFT and metaverse” business. The co-founder of Animoca also added that the geography of investment objects is not limited, and all attention will be focused on digital property rights. He hopes that digital property will be further recognized in the legal system on a par with physical property.
What does this mean more globally?
Animoca Brands is a tech giant that has always been one step ahead of the market for many years, making not always obvious multi-million-dollar investments in various startups. And after some time, these projects turn into market leaders and successful businesses. Needless to say, after the launch and global development of one of their main projects, The Sandbox, the company is optimistic and looking forward to the metaverse market?