Google will let developers expand offerings of blockchain-related content including through support for non-fungible tokens (NFTs) in apps on its store for Android devices. The change will allow users to earn and transact with digital collectibles, potentially reviving interest in the NFT market.
Google Play Marketplace Announces NFT Integration
Google unveiled that it’s updating its app store policy to “open new ways to transact blockchain-based digital content within apps and games.” The amendment means that developers will be able to offer users opportunities to earn and trade NFTs as part of loyalty and rewards programs, for example.
“Google Play hosts a variety of blockchain related apps, and we know that our partners are excited to expand on these offerings to create more engaging and immersive digital experiences with tokenized digital assets such as NFTs,” the tech giant said in an announcement on Wednesday. Google added:
We’re excited to see creative in-app experiences flourish and help developers expand their businesses.
At the same time, the company emphasized it will require developers to provide safe experience with the tokenized digital assets. This includes informing players about the value of an NFT at the time of purchase and refraining from promoting potential earning from playing or trading activities.
Google also promised to continue to engage with developers to support them in their efforts to build sustainable businesses using blockchain technology. Further improving its support of blockchain-based app experiences is part of Google’s plans, according to the statement.
The popularity of NFTs took a hit during the latest crypto winter but Google’s new policy may help revive the waning market. According to blockchain data provider Cryptoslam, the monthly global sales volumes were down 38% in June over the same period of last year, to $653 million, Bloomberg noted in a report.
Google has clarified its rules for non-fungible tokens, which will take effect on Dec. 7, after Apple introduced new guidelines on crypto trading and the use of NFTs within apps and games in October, 2022. In mid-March, 2023, the owner of social media networks Facebook and Instagram, Meta, announced it’s winding down support for digital collectibles on its platforms amid turbulence in the crypto space.
Do you think Google’s NFT integration will have a positive effect on the NFT market? Share your thoughts on the subject in the comments section below.
