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Coinbase Wallet Says Apple Blocked Their Latest App Update Over NFT Gas Fees’ Dispute

Coinbase Wallet Says Apple Blocked Their Latest App Update Over NFT Gas Fees’ Dispute

Coinbase says tech giant Apple has blocked the latest version of its app, preventing iOS device users from sending non-fungible tokens (NFTs). In a series of tweets, Coinbase Wallet says Apple wants the updated app to disable the feature that allows users to send NFTs. You may have noticed that you can no longer send NFTs in Coinbase Wallet iOS. Apple blocked our last app version until we disabled the feature. Coinbase wallet says Apple wants customers to pay a 30% gas fee on all NFT transactions, noting that Apple’s lawsuit seems impossible as Apple’s proprietary technology is currently incompatible with digital assets.

According to Apple, the in-app purchase system is the only way to pay the gas fees needed to send NFTs, allowing them to keep 30% of the fee. For anyone who understands how they operate NFTs and blockchains, this is not possible Apple’s proprietary system does not support cryptography, so we would only be able to meet the requirements if we tried. It made it much more difficult to transfer these NFTs to other wallets, friends, or family.

Simply put, Apple has implemented new regulations to preserve its profits at the expense of consumer investment in NFTs and developer innovation throughout the crypto ecosystem.

Coinbase says it is open to a discussion with Apple amid the disagreement over how NFT gas fees should be paid and the impending release of its app update. Apple: We are here, and we want to help. “We hope this was an oversight on their part and a turning point for further discussions with the ecosystem.”

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