The Coinbase wallet is disabled on iOS by Apple. According to information from a Coinbase twitter thread, iOS users won’t be able to transmit NFTs from their wallets on iOS devices any more.
Coinbase also claimed in the tweet that Apple has halted the rollout of their most recent software until they turn off the functionality.
The primary justification offered by Coinbase is because “…the gas fees required to send NFTs need to be paid through their In-App Purchase system so that they can collect 30% of the gas fee.”
Coinbase Wallet also said that Apple’s proposal is impractical for anyone who is familiar with how NFTs and blockchain operate. Even if we wanted to comply, we couldn’t since Apple’s exclusive In-App Purchase mechanism doesn’t handle cryptocurrency, according to Coinbase.
Coinbase also compared it to Apple’s attempt to charge a fee for each email sent using open internet protocols. One of the greatest issues with Apple’s decision is that iOS users who have NFT stored in an iPhone wallet must go through a laborious transfer process in order to transfer the NFT.
In other words, Apple has implemented additional regulations to safeguard its profits at the expense of customer investment in NFTs and developer innovation throughout the crypto ecosystem.
The decision will undoubtedly have an impact on a large segment of iOS users who keep their NFTs in their iPhone wallets. If the verdict is overturned, how it would impact the ecosystem as a whole is unknown.