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Tim Sweeney stated that Apple’s NFT tax would be a major blow to another technology when it introduced it in its app store. Apple’s decision not to allow NFTs to be purchased and sold through App Store apps has not received the same reception as one would expect from Web3 advocates.

The reason is that the iPhone maker decided to charge its 30% standard commission on in-app NFTs, which industry experts call “grotesquely excessively priced”.

In comparison OpenSea, the largest NFT marketplace, charges 2.5% commission for NFT sales.

Tim Sweeney, CEO of Epic Games, blasted the tech giant tweeting saying that the company “killed all NFT app business it can’t tax” and “crushing another nascent technological that could rival its grotesquely expensive in-app payments service.

It is important to note that the App Store can reach more than one million iPhone users. OpenSea had just over a million monthly users even during the NFT hype in the beginning of the year.

A report in The Information that first reported on Apple’s NFT move noted that Magic Eden, a Solana-based NFT marketplace, had opted to withdraw the App Store following learning about the commission.

However, not all industry insiders are calling for Apple’s head. Some have highlighted on Twitter mobile games will especially benefit from selling NFTs while others claimed the move will significantly increase Web3 usage worldwide.

Epic Games and Sweeney are not strangers to calling out Apple for unfair market practices. Fortnite’s maker lost the lawsuit it filed in 2020, claiming that Apple had violated antitrust laws by charging 30% commission on App Store purchases.

Epic appealed and U.S. antitrust officials requested to participate in the appeal arguments scheduled for next month. They expressed concern that the previous ruling did not correctly interpret antitrust law.

Sweeney also took a measured stance regarding the merging of traditional gaming and NFTs.

In July, amid NFT bans from Microsoft’s Mojang Studios , Steam and Microsoft , Epic Games CEO stated that he believed “stores should not interfere by forcing their opinions onto others.” We [Epic Games] will not.

The post Epic Games CEO Bashes Apple for Ludicrous 30% NFT Tax first appeared on The Daily Encrypt.


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Angie Byrd