Google’s Plan to Update Cryptocurrency Advertisement Policy in 2023
In September 2023, Google, the world’s leading search engine and tech company, will update its cryptocurrency advertisement policy. This update aims to provide clarity on the requirements and scope for advertising blockchain-based games involving non-fungible tokens (NFTs).
While the initial update was announced in August 2023, Google plans to share fresh updates this September. These updates will benefit blockchain game developers and advertisers, especially those who rely on NFTs for incentives or as part of their game economics.
NFTs and Their Role in Blockchain Gaming
NFTs have become an integral part of the expanding blockchain and crypto scene. While they gained mainstream prominence in early 2018 with CryptoKitties, it wasn’t until late 2020 and throughout 2021 that they found use cases beyond art.
In the gaming industry, NFTs have been utilized to decentralize ownership, allowing players to own specific in-game assets. Unlike fungible tokens, NFTs cannot be exchanged and share properties with coins like Ethereum (ETH). Their transactions are transparent and secure.
Due to these features, NFTs have been widely integrated into different games, promoting interoperability, player-driven economies, and even offering tangible value for users to cash out.
This decentralized nature of NFTs is driving developers to create more engaging games in the blockchain gaming space.
Google’s Rules for Advertising NFT Games
To prevent misuse of the technology, Google plans to introduce strict measures. Under the updated policy, game developers or market agencies can run advertisements on Google’s network for NFT games that do not promote gambling-related content.
Google explicitly states that these games include those where players can purchase in-game assets to enhance their experience or level up.
However, Google will not allow advertisements for blockchain games that promote social casino games rewarding NFTs, direct users to real-money gambling destinations, or involve wagering or staking NFTs for the chance to win real-world value.
Hot Take:
As NFTs continue to shape the blockchain gaming industry, Google’s updated advertisement policy reflects the need to strike a balance between promoting innovation and preventing potential abuses. By establishing clear guidelines, Google aims to protect users and ensure a safe and responsible gaming environment.
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