Crypto Ad Policy Update Allows NFT Ads
Google, the dominant search engine, has made revisions to its advertising policy regarding cryptocurrencies. The updated policy now permits advertisements for blockchain-based non-fungible tokens (NFTs), as long as they meet specific requirements and refrain from promoting gambling-related content.
The revised policy allows advertisers of NFT games to promote their products and services, including the purchase of in-game items such as virtual apparel, weapons, and armor. These items can enhance the user’s experience within the game.
Starting from September 15, 2023, advertisers can promote NFT games that don’t involve gambling-related content.
However, Google will still enforce its prohibition on game ads that involve wagering or staking NFTs to win cryptocurrencies or other NFTs. Simulated casino games that reward NFTs will remain banned, and ads promoting NFT-integrated “real money gambling” are also not allowed.
Google’s Evolution in Crypto Advertising
In 2018, Google banned all crypto-related advertising on its online platforms due to concerns about potential harm to consumers. The company’s director of sustainable ads, Scott Spencer, remarked on the need for extreme caution when dealing with cryptocurrencies.
However, in 2021, Google partially lifted the ban, allowing advertisers of “cryptocurrency exchanges and wallets targeting the United States” to advertise, provided they meet certain regulatory requirements. This recent update reflects the growing popularity of NFT gaming and the increased investment in development and esports.
Advertisers promoting NFT-related gaming must comply with the Gambling and games policy and obtain the necessary Google Ads certification. They are also required to adhere to local laws applicable to their target regions. Violations of the policy will result in a warning before potential account suspension.
Hot Take: NFT Ads Open New Opportunities for Crypto and Gaming
The decision by Google to allow NFT ads signifies a significant shift in its stance towards cryptocurrencies. This policy update provides a platform for NFT gaming advertisers to reach a wider audience and capitalize on the growing interest in blockchain-based experiences. As the NFT market continues to expand, we can expect more innovative applications of this technology in the gaming industry.
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