Google Play has officially announced a significant policy update, signaling a major shift in the app marketplace. Starting December 7, 2023, developers will integrate blockchain technology and tokenized digital assets, including non-fungible tokens (NFTs), into their applications.
Joseph Mills, Group Product Manager of Google Play, expressed excitement about the change. The July 2023 policy updates aim to foster innovation and bring developers’ ideas to life. The new policy aligns with Google Play’s responsible gambling policies and supports the growth of in-app experiences, helping developers expand their businesses.
Industry leaders, including Mythical Games and Reddit, support the expanded possibilities presented by Google Play’s decision, showcasing the rising recognition of blockchain technology and tokenized digital assets. To ensure transparency and user safety, developers must declare tokenized digital asset sales or earnings and avoid promoting potential earnings from playing or trading activities.
The updated policy includes four key points for developers:
1. Cryptocurrency Exchanges and Software Wallets: Transactions must be conducted through certified services in regulated jurisdictions.
2. Cryptomining: Apps mining cryptocurrency on devices are not allowed.
3. Transparency Requirements for Distributing Tokenized Digital Assets: Developers must declare sales or user-earned assets through a Financial Features declaration form.
4. Additional Requirements for NFT Gamification: An application process is necessary to use NFTs in games, preventing real-money gambling.
The policy will be effective on December 7, 2023, with a preview period for developers to comply. Google Play provides a PolicyBytes video for detailed explanation and guidance.
