Apple's imposition of its app tax on NFT sales is abusive
Apple collects "up to 30% of the transaction": the app tax even exceeds 30% under certain circumstances, plus developers are increasingly forced to pay for Search Ads as Apple places ads even on individual app pages. Let's leave that for another day. All that matters here is that as long as NFT businesses are legal.
Apple's impact on wide swaths of the economy becomes clearer every day. In the summer, venture investor Alex Gurevich said Apple's App Tracking Transparency might deserve as much blame for a recession as inflation as all sorts of businesses now face much higher customer acquisition costs. On Tuesday, I criticized Apple's dictate of currency conversion rates because it contributes to eurozone inflation. Compared to those macroeconomic issues, the impact of Apple's App Store tax on NFT startups is of limited--but definitely non-negligible--relevance.
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