Google recently announced an update to its Play policy, granting permission for the incorporation of tokenized digital assets, such as non-fungible tokens (NFTs), into applications and games. This significant change aims to enhance the web3 content available on Google Play. Joseph Mills, the group product manager of Google Play, made the announcement.
The new policy requires developers to be transparent with users about tokenized digital assets, and they cannot promote or glamorize any potential earnings from playing or trading activities. Applications that fail to comply with Google Play’s guidelines regarding Real-Money Gambling, Games, and Contests are prohibited from accepting monetary transactions in exchange for opportunities to acquire assets, including NFTs.
Below, you will find supplementary information regarding the recently implemented policy:
- Apps must disclose the use of tokenized digital assets in the app’s description and in-app.
- Applications are not permitted to endorse or romanticize potential profits derived from gaming or trading endeavors.
- Apps that do not meet Google Play’s Real-Money Gambling, Games, and Contests policy are not allowed to accept money for chances to win assets, including NFTs.t meet Google Play’s Real-Money Gambling, Games, and Contests policy are also not allowed to get money for chances to win assets, including NFTs.
This policy update is a significant step forward for developing web3 content on Google Play. It allows developers to create more immersive and engaging experiences for users, and it opens up new possibilities for the monetization of blockchain-based applications.
Previously, Google faced criticism for its stringent stance on blockchain-related content. However, recent reports indicate that Google’s updated Play policy aims to facilitate seamless transactions involving blockchain-based content within applications and games. This change is expected to assist developers in enhancing user loyalty by implementing NFT rewards and transforming conventional games with user-owned content.
In a blog post on Wednesday, Alphabet Inc.’s Google announced its decision to enable developers to provide games that allow players to purchase, sell, and earn tokenized digital assets, including non-fungible tokens (NFTs) while adhering to specific guidelines.
Following these announcements, notable figures in the industry have expressed their perspectives on various social media platforms. Manish Agarwal, the founder, and custodian of IndiGG DAO, took to Twitter and shared his excitement, stating, “This could be a major milestone in accelerating the adoption of web3 games and game NFTs. 2024 will be an incredibly exciting year with the release of amazing games on Google Play. However, it remains unclear how Google tax will be applied to peer-to-peer transactions.”
Bharat Patel, chairman and director of Yudiz Solutions Ltd, commented on the significance of Google Play Store’s decision to officially allow NFT games, emphasizing its substantial impact on the mobile gaming industry. Patel noted that this decision would contribute to the projected 33% compound annual growth rate (CAGR) of the NFT gaming market, which is already gaining momentum. Patel also mentioned the importance of authorities evaluating market scalability and efficiently regulating the overall market scenario to ensure user satisfaction.
With the updated policy, Google aims to enhance creative in-app experiences and support developers in expanding their businesses. Additionally, in an effort to provide further user protection, Google has implemented restrictions on developers from promoting or glorifying “potential earnings from playing or trading activities.”
