Google To Update Crypto Advertising Policy, These NFT Games Are Big Winners
Google has announced its plans to update its cryptocurrency advertising policy in September 2023, specifically focusing on blockchain-based games involving non-fungible tokens (NFTs). This update aims to provide clarity regarding the scope and requirements for advertising such games. The move is significant for blockchain game developers and advertisers who rely on NFTs as part of their game incentives and economics.
NFTs have become a fundamental part of the blockchain and crypto industry, initially gaining attention in 2018 but expanding their use cases beyond art in late 2020 and throughout 2021. These digital assets have found applications in gaming, where they enable players to own and trade in-game assets as unique tokens. NFTs offer transparency and security in their transactions, making them valuable for ensuring the authenticity and scarcity of virtual assets.
By incorporating NFTs into their games, developers aim to decentralize ownership, encourage player-driven economies, and provide players with opportunities to monetize their in-game assets. This has led to increased engagement within the gaming community and income opportunities for gamers and collectors.
Google's update to its cryptocurrency advertising policy is intended to prevent misuse of NFT technology. Under the new policy, Google will permit game developers and marketing agencies to run advertisements on its network for NFT games, as long as the games do not promote gambling-related content. Examples of eligible games include those that allow players to purchase in-game assets such as characters or skins to enhance their gaming experience or advance in the game.
This update reflects Google's recognition of the growing importance of NFTs in the blockchain gaming industry and its effort to strike a balance between promoting innovative blockchain-based games and ensuring responsible advertising practices.
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