In a policy shift, Google has rolled out new advertising rules that open doors for blockchain-based video games featuring Non-Fungible Tokens (NFTs). The Silicon Valley behemoth is saying a resounding ‘yes’ to the digital art revolution, but it’s drawing a hard line when it comes to anything that smells like gambling. Effective September 15, Google will permit advertisers to promote blockchain video games that utilize NFTs for in-game items like cosmetics or weapons. Google’s move is aimed at establishing a regulated but open approach to this emerging digital frontier.
However, not all NFTs are created equal in the eyes of Google. The tech giant has instituted restrictions on any game that allows players to “wager or stake NFTs in exchange for the opportunity to win anything of real-world value.” Games that feature these mechanics will not be allowed to advertise on Google’s platform. The same goes for “social casino games” that award users NFTs. Any entity that intends to deploy what Google considers “gambling” elements will need to secure a gambling license or Google’s gambling application certification.
Staking, the practice of locking up cryptocurrencies or NFTs to earn additional crypto over time, is also on Google’s no-fly list. Games that incorporate staking mechanisms for token rewards will not be eligible for Google’s ad platforms, according to the announcement.
Google’s latest policy update is significant for a variety of reasons. It clearly delineates the difference between NFTs that are purely game enhancements and those that might facilitate gambling. This matters because it provides a roadmap for developers and offers a clearer regulatory framework. As Google steps cautiously into the world of NFTs and crypto, it’s sending out a clear message: innovation is welcome, but there are lines that should not be crossed. While some might argue that the tech giant is killing some of the fun by eliminating the gambling aspects, others see it as a necessary step in ensuring that the NFT space matures responsibly.
In a world where NFTs and blockchain technology are becoming increasingly mainstream, Google’s latest move is not just a policy update; it’s a cultural statement. What do you think about Google’s latest crypto stance? Sound off in the comments below!
