Coinbase reported on Twitter that Apple blocked their latest app release until they disabled the feature. Apple wanted the blockchain commission associated with NFT transfers to go through its in-app purchasing system. As a result, Apple would have been able to have a 30 percent share.
Coinbase reports that they aren’t doing this out of greed. The reason is that Apple’s system doesn’t support payment in cryptocurrency.
Despite these difficulties, Coinbase hopes to resolve this situation and settle with Apple. They expect it won’t be easy and stressful given that Coinbase’s CEO tweeted that the App Store is a monopoly.
However, all companies know this Apple rule; in this case, it’s silly to expect them to do anything different. Now Coinbase needs to find a way around this to get out of the situation. They are advising users to download the Coinbase Wallet Chrome extension.
But some NFT trading floors allow you to buy digital tokens for U.S. dollars. However, on blockchains like Ethereum, which many NFT projects use, any transaction incurs a fee that people must pay.
Commissions are charged in cryptocurrencies such as ETH. Coinbase doesn’t receive any part of this commission, nor does the person receiving NFT. This is why Apple’s app purchase system is set up for processing at all.