Google to permit NFT game ads from September 15.

Google to permit NFT game ads from September 15.

Introduction

The blockchain industry continues to evolve and attract attention from various sectors. With its ability to provide decentralized and transparent solutions, blockchain technology has revolutionized many areas, including finance, supply chain management, and even gaming. In line with this, Google recently updated its cryptocurrency advertising policy, allowing for blockchain-based Non-Fungible Token (NFT) gaming advertisements. However, it is important to note that these advertisements must not promote gambling or gambling services.

Google’s New Policy on NFT Gaming Advertisements

Google’s blog post announced that the revised advertising policy for NFT gaming will take effect on September 15th. Under this policy, advertisements will only be permitted for games that meet specific criteria. These criteria state that NFT games should allow players to purchase in-game items, such as virtual apparel, weaponry, or armor, which can enhance their gaming experience or aid in advancing through the game. This change allows game developers and publishers to advertise their blockchain-based NFT games on Google’s platforms.

However, it is important to highlight that advertisements for NFT games that involve wagering or staking NFTs against other players or for rewards, including cryptocurrencies and other NFTs, will still be strictly prohibited. This means that NFT casino games and social betting paradigms that allow players to gamble for real-world prizes like NFTs, cash, or cryptocurrency will continue to be banned.

To advertise gambling-related content that integrates NFTs, developers and publishers must comply with Google’s Gambling and games policy. They will also need to obtain the proper Google Ads certification, ensuring that they adhere to responsible gambling practices.

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Evolution of Google’s Advertising Policy

Originally, Google implemented a ban on all cryptocurrency-related advertising across its platforms in March 2018. At that time, Scott Spencer, the Director of Sustainable Ads at Google, emphasized their concerns about consumer harm. The ban was seen as a precautionary measure due to the potential risks associated with cryptocurrency-related ads.

However, Google gradually softened its stance on cryptocurrency advertising. In June 2021, the tech giant allowed certain companies engaged in cryptocurrency exchanges and wallets targeting the United States to advertise on its platform. The condition was that these companies needed to be registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Services Business or be a federal or state-chartered bank entity.

The Significance of Google’s Policy Update

Google’s decision to allow blockchain-based NFT gaming advertisements reflects the growing recognition and acceptance of blockchain technology in the mainstream. NFTs, which are unique digital assets that can be bought, sold, and owned utilizing blockchain technology, have gained significant popularity in recent years. These NFTs are now being utilized in gaming, allowing players to own and trade virtual items within a game, enhancing their gaming experience.

By allowing advertisements for NFT-based games, Google is acknowledging the positive potential of blockchain technology and its ability to create unique and immersive gaming experiences. This move also creates new opportunities for game developers and publishers, promoting innovation and growth within the blockchain gaming industry.

Conclusion

Google’s updated advertising policy allowing blockchain-based NFT gaming advertisements is a significant development for the blockchain industry. By opening up avenues for game developers and publishers to promote their NFT-based games, Google is embracing the potential of blockchain technology to revolutionize the gaming sector. As the adoption of blockchain technology continues to expand, we can expect more developments and advancements in various industries, facilitated by decentralized and transparent solutions offered by blockchain technology.

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