Coinbase Ends Mobile NFT Trading, Blames Apple’s App Store Fee

Customers of Coinbase Global Inc using Apple Inc’s iOS will no longer be able to send non-fungible tokens (NFTs) to the cryptocurrency exchange’s wallet.

Coinbase has a problem with Apple’s gas fees required to send NFTs being paid through their In-App Purchase system to ensure Apple gets 30% of the gas fee.

Coinbase tweeted that it would not be able to comply with the requirement even if it tried.

Apple’s 30% fee has been highly contentious in the tech world and has earned the iPhone maker dubbing of being monopolistic.

NFTs, digital assets that exist on the blockchain and carry unique digital signatures, exploded in popularity in 2021 but have seen demand crippled by the crypto winter in recent months.

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