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Coinbase Wallet and Apple Square Off Over Gas Fees
Mark Kennedy & Manuel Olumorin
December 02, 2022
TGIF. We know you're excited about the weekend and we are too! Before you grab that prized piece of couch space, let's crack open this edition of Lootbox.
Today's Issue:
Apple Blocks Coinbase Wallet Over NFT Gas Fees
Some Sneaky News For Your Weekend
Coinbase Wallet And Apple App Store Square Off
Coinbase wallet users on iOS awoke to some startling updates yesterday. The feature for sending NFTs is gone.
Why?
Coinbase Wallet had this to say on Twitter.
You might have noticed you can't send NFTs on Coinbase Wallet iOS anymore. This is because Apple blocked our last app release until we disabled the feature. 🧵
— Coinbase Wallet (@CoinbaseWallet)
4:34 PM • Dec 1, 2022
Now many of us know of Apple's controversial policy on in-app purchases, the 30% fee on those purchases. We have seen Epic, Amazon, Netflix, and many others fight in court or come up with ways to circumvent this policy.
You may say, "this is nothing new" and you are right. Apparently, they have been doing this to smaller apps for a while. It appears that Apple seems to see these "Gas Fees" as income collected by the Coinbase Wallet from users and therefore is subject to their fee structure.
Anybody who knows anything about blockchains would understand that the send fees surrounding the NFT feature of Coinbase Wallet are used to pay validators on the blockchain network and are not collected by Coinbase. It seems Apple disagrees with this. Maybe it's an oversight or a downright money grab. Who knows? What we know is Coinbase Wallet has removed the ability to send NFTs from its iOS app.
What the internet is saying about this
It's no surprise there was some outrage.
This is exactly why I’ll never own an Apple device. Ridiculous!
— greg (@greg16676935420)
4:54 PM • Dec 1, 2022
Funny guy. He's using an iPhone to tweet.
You mean they're starting to treat you how they were treating all the smaller apps for the past 2 years. Amazing your lawyers held them off so long. Still trust and metamask amongst other can do it. They should apply the rules evenly or not at all.
— Nick (@NickJuness)
8:01 PM • Dec 1, 2022
Other users expanded on the idea that other wallets that lacked a "marketplace" remain unaffected like Metamask. One has to wonder if shipping the marketplace within the wallet app itself is what created this divide among what is acceptable and what is not.
MetaMask doesn’t have this problem
— rez_x | reznorx.eth (@reznor_x_)
8:31 PM • Dec 1, 2022
Jokes also came in
The real reason there’s a bite out of the apple
— bangerz.sol 👽 (@bangeroooNFT)
6:12 PM • Dec 1, 2022
Our take
The bottom line is that Apple has no incentive to work with web3 apps or any other app. They own the rails. However, this might become a USB-C moment for them as more apps voice their concerns, and it becomes an antitrust issue. We'll be watching this.
The Sneakies
SuperOne Partners with Footballco and FIFPRO: SuperOne is a blockchain gaming company that released the first-ever gamified social network platform on the blockchain. They plan to launch a Battle Royale game together with their new partners. It would be a simulator environment where fans fight each other to avoid being eliminated.
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Until Next time...
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