Google’s New Advertising Policy for Cryptocurrencies and NFTs
In September 2023, Google has made updates to its advertising policy for the crypto, blockchain, and NFT sector. As part of this update, Google has announced that it will allow ads on NFT games starting from September 15, as long as they are not gambling games. Advertisers offering blockchain-based and NFT games will now be able to place new ads on Google.
Eligibility Criteria for NFT Game Ads
NFT games that allow players to purchase in-game items to enhance their experience or progress in the game will be allowed to run ads. These in-game items can include virtual clothing, weapons, and armor with enhanced stats. However, Google excludes all blockchain-based and NFT games that involve gambling and betting.
Restrictions on Gambling and Betting NFT Games
Google has provided a list of NFT games that are not eligible for running ads. This includes the promotion of social casino games that reward NFT, such as poker, slots, or roulette. Additionally, games where players can wager NFTs in exchange for the chance to win something of real value are also excluded. Advertisers of these games must comply with the Gambling and Gaming Policy and be certified by Google Ads. It is important for all advertisers to comply with local laws in the targeted areas.
Consequences for Non-Compliance
Failure to comply with the updated policy may result in the suspension of the advertiser’s account. Google will provide a warning at least 7 days prior to the suspension. It is crucial for advertisers to adhere to the policy and ensure compliance with local laws to avoid any disruptions to their advertising campaigns.
Google’s Journey with Cryptocurrency and NFT Advertising
In 2018, Google had initially banned cryptocurrency-related advertising on its platforms without specifying if it was temporary or permanent. However, on August 3, 2021, Google decided to reopen its doors to the crypto sector, allowing advertisers in the United States to promote their companies as exchanges or wallets. These advertisers had to be certified by the Financial Crimes Enforcement Network (FinCEN). Now, Google has expanded its policy to include NFT games, with the same rules applying globally.
Hot Take: Embracing the Potential of NFT Games
Google’s decision to allow ads on NFT games demonstrates the growing recognition of the value and potential of this emerging sector. By setting clear guidelines and restrictions, Google aims to protect users while still enabling advertisers to promote their games responsibly. This move not only provides opportunities for game developers and advertisers but also highlights the mainstream acceptance of NFTs and their integration into various industries.
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