Explain in detail the new digital asset policy of Google Store: Can it boost the NFT and chain game market?

Author: Jordan, PANews

Integrated from Google official, Coindesk

On July 13, Google "suddenly" announced that its app store, Google Play, had adjusted its Tokenized Digital Assets (Tokenized Digital Assets) policy. This is a major policy change, because developers will be able to integrate digital assets such as NFT into Google Play in apps and games.

Google said that as blockchain technology continues to develop rapidly, its goal is to provide a platform for developers to thrive in innovation and create richer, immersive experiences for users. As far as the newly adjusted policy is concerned, Google regards blockchain-based content as tokenized digital assets protected by blockchain, and applications must comply with relevant requirements if they contain blockchain-based content.

Specific content of the new Google App Store policy

According to Google’s official policy announcement, the technology giant has introduced a blockchain-based content policy in Google Play, stipulating that developers must complete application declarations to enable users to trade blockchain-based digital content (NFT games also require Comply with other requirements to improve user transparency and security), mainly including the following four aspects:

1. Cryptocurrency exchanges and software wallets

The purchase, holding or trading of cryptocurrencies should be done through an accredited service in a regulated jurisdiction.

Application developers must also comply with applicable regulations in any region or country for which the application is intended and refrain from distributing applications where products and services are prohibited. Google Play may request additional information or documentation regarding compliance with any applicable regulatory or licensing requirements.

2. Cryptocurrency mining

Google does not allow apps to mine cryptocurrencies on the device, but allows apps to remotely manage the mining of cryptocurrencies.

3. Transparency requirements for distribution of tokenized digital assets

Apps that sell or allow users to earn tokenized digital assets must declare this via the Financial Features Declaration form on the App Content page of the Google Play Console. When creating an in-app product, the product details must state that the product involves tokenized digital assets and must not promote or glorify any potential revenue from gaming or trading activities.

4. Additional requirements for NFT gamification

Gambling apps that integrate tokenized digital assets (such as NFTs) must complete an application process as required by Google Play's Gambling, Games, and Competitions Policy. For all other apps that do not meet the gaming app eligibility requirements and are not included in the other real-money gaming pilots, nothing of monetary value should be accepted, raised, in exchange for the chance to get an "NFT of unknown value". The NFT purchased by the user should be consumed or used in the game to enhance the user's experience or help the user advance the game. NFTs may not be used for wagering or staking in exchange for a chance to win prizes of real world monetary value (including other NFTs).

Under this clause, Google lists two examples of violations:

• Apps that sell bundled NFTs without disclosing the specific content and value of the NFTs.
• Pay-to-play social casino games that offer rewarded NFTs, such as slot machine-like apps.

Can Google's adjustment of the app store's digital asset policy boost the NFT and chain game market?

Google Play Group product manager Joseph Mills said that under Google's new policy, partners will be able to reimagine traditional games where "users own content" and increase user loyalty through unique NFT rewards. It is worth mentioning that Reddit is one of Google's partners in formulating the new policy. The social giant has previously achieved great success through Avatar NFT. According to the latest data from Dune Analytics, the number of Reddit Collectible Avatar NFT holders is as high as 13,172 , 700, the total number of minted Reddit Collectible Avatar NFTs reached 17.09 million, with a market value of over 56 million US dollars.

Reddit senior engineering manager Matt Williamson said frankly that the updated Google digital asset policy will create a more level playing field and promote user trust and responsible use of blockchain technology. In fact, user trust is so important to the "fragile" crypto industry that Google stipulates that while tokenized assets are designed to build richer, immersive experiences, as an additional user protection, developers must not promote or glorify anything from Potential revenue from games or trading activities, which means non-compliant apps cannot advertise the purchase of in-game items such as "loot boxes" for a chance to win NFTs.

Overall, this move by Google shows a change in attitude towards Web3. After all, Google's policy on blockchain-based applications has been criticized by the encryption community for a long time, and even called it a "black box". ", such as games like "Bitcoin Blast" being kicked from the Google Play store in 2021 without a clear explanation.

But now, Google seems to be rethinking its attitude towards cryptocurrencies-in 2022, Google Play will re-launch the decentralized data storage application ArDrive Mobile, and then allow Axie Infinity: Origin to appear in selected Google Play markets. In April, Google Cloud also launched the "Google for Startups Cloud Program" and opened it to Web3 industry builders. Qualified projects from the Pre-Seed round to the A round will be able to apply for the program, including a maximum of $200,000 within two years from Google Cloud credits, as well as other technical support, help Web3 developers accelerate their startups.

There is no doubt that Google's new digital asset policy will boost the sluggish encryption, especially the NFT market. It is reported that the new policy will be fully launched later this year, and the follow-up results are worthy of attention.