In a recent development, the Google Play Store has updated its policy to allow blockchain-based digital content such as non-fungible tokens (NFT) and tokenized digital assets in its app store.
In the updated policy, companies are allowed to buy or sell tokenized assets, but they are required to have a clear mechanism based on blockchain elements within their apps. Additionally, developers who do not meet the eligibility requirements for gambling cannot accept money in exchange for a chance to win assets of unknown real-world monetary value, including NFTs.
This decision by Google Play comes in light of Reddit’s remarkable success with Avatar NFTs, which attracted nearly 10 million users to crypto within a year.
Matt Williamson, Senior Engineering Manager at Reddit, comment on Google’s new policy, “We partnered with Google to help update their policy, aimed at creating a level playing field that promotes user trust, and responsible usage of blockchain technology”
Google has already been collaborating with Mythical Games to support blockchain-based gaming, and following the policy update, John Linden, CEO of Mythical Games, expressed appreciation for Google’s partnership.
“We really appreciate Google’s partnership in this collaborative effort to bring about innovation in this space and move these new economies forward. We think these new policies are steps forward for both players and developers alike and will positively impact the adoption of new technology while also protecting consumers.”
This development reflects the company’s acknowledgment of the significant potential in Web3 technology and its dedication to encouraging responsible usage and fostering innovation in the blockchain space.
Also Read: Google Cloud and Polygon Labs Join Forces to Revolutionize Web3 Adoption
