Non-Fungible Token (NFT) startups are not happy with the policy of Apple and do not want to sell their products or service on the Apple App store due to high commissions according to the media reports. The reports say that the Apple store charges a 30 per cent commission on in-app purchases which is reducing the sustainability of NFT startups and the tough rules are bleeding them out.
In a normal NFT marketplace, the transaction charges are 2 to 3 per cent but the charges by apple are 30 per cent on all the transactions and in-app purchases. However, Apple reduced its commission from 30 per cent to 15 per cent for the companies that are earning under $1 million per annum. NFT startups like Magic Eden have stopped working on the Apple app store mentioned in media reports.