Google, the world’s leading search engine and tech company, has announced its plan to update its cryptocurrency advertisement policy in September 2023. The motive behind this update is to provide clarity on the scope and requirements for the advertisement of blockchain-based games involving non-fungible tokens (NFTs). This development holds significant implications for blockchain game developers and advertisers who heavily rely on NFTs as incentives or as part of their game economics.

The Rise of NFTs and Blockchain Gaming:

While non-fungible tokens (NFTs) gained mainstream attention in early 2018 through CryptoKitties, their widespread usage in various sectors, especially the gaming industry, became more apparent in late 2020 and throughout 2021. NFTs, unlike traditional fungible tokens, possess properties similar to cryptocurrencies like Ethereum (ETH) but cannot be exchanged. Their transactions are secure, transparent, and immutable.

Blockchain gaming developers have embraced NFTs as a means to decentralize ownership of in-game assets, allowing players to have true ownership of digital items. This integration has led to improved interoperability, player-driven economies, increased engagement within the gaming community, and even income opportunities for gamers and collectors. The decentralized nature of NFTs has become a driving force behind the creation of immersive and captivating blockchain games.

Google’s Guidelines for NFT Games Advertisement:

Recognizing the growing prominence of NFTs in the gaming space, Google has laid out specific guidelines to prevent the abuse of this technology in advertisements. In their upcoming update, Google will permit game developers and market agencies to advertise NFT games on its network, provided the games do not involve gambling-related content.

Google has clarified that eligible games include those that enable players to purchase in-game assets such as characters or skins to enhance their gaming experience or progress in the game. However, advertisements for blockchain games promoting social casino games with NFT rewards, those directing users to real-money gambling platforms, or games facilitating the wagering or staking of NFTs to win real-world rewards will be prohibited.

Implications for NFT Gaming:

Google’s update aims to strike a balance between allowing the promotion of NFT games while preventing the exploitation of this emerging technology in the realm of gambling. Their guidelines provide a level of assurance to users and advertisers, ensuring that NFT games can be enjoyed responsibly and without compromising user safety.

As Google prepares to update its cryptocurrency advertisement policy in September 2023, the clarification and guidelines related to advertising blockchain-based games involving NFTs will offer valuable direction to game developers and advertisers. The integration of NFTs in the gaming industry has proven instrumental in fostering authentic ownership, increasing engagement, and providing income opportunities for players. Google’s careful regulations will contribute to the sustainable growth of NFT gaming, ensuring that it remains a positive force in the evolving landscape of blockchain technology.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.