Tech giant Google softens its advertising policies for NFT games, following the establishment of a dedicated blockchain division.
After a comprehensive review, Google has decided to relax its advertising policies for NFT games, a sector that faced significant losses throughout 2021 and much of 2022. The changes initiated by the company since the beginning of 2022 involve cryptocurrency advertisers and related entities.
For those who have been negatively impacted by misleading advertising, this could mark the end of a tumultuous chapter. Following the surge of Play-to-Earn games like Axie Infinity, interest in NFTs has been waning.
It appears that the new policies are more accommodating towards an ecosystem that was once lucrative for both advertisers and Google itself. To gain approval from the Alphabet subsidiary, the guidelines are straightforward: no gambling or earnings.
Starting September 15th of this year, any company wishing to advertise with Google must adhere to lenient rules. However, Google has made it clear that it does not want advertisers promoting casino games. This could be problematic for games like Axie Infinity, where NFTs can be traded and act as a store of value. In other words, no company offering prizes or special bundles with NFTs, cryptocurrencies, or any object with real-world value will be allowed to advertise under the new rules.
Google has clarified the rules of the game. The burgeoning online casino and blockchain-based gaming industries have largely operated without regulation. From September 15th, not only must NFT game policies be followed, but community guidelines and gambling policies must also be adhered to. For Google, NFT games based on blockchain technology where users can purchase tools, weapons, and armor will be allowed to advertise. However, the tradable value must remain within the platform. Additionally, NFT games must comply with Google’s gambling policy.
While some questions remain unanswered, Google has assured that there will be warnings against advertisers. This means that if a company violates the rules, they can rectify their mistake, but not without receiving a warning first.
In a technological leap, Google established a new division in April of this year, focusing solely on blockchain technology and data storage. More recently, the company introduced Google Cloud, a new program for startups exclusively dedicated to Web 3.0. Companies meeting the criteria will have access to Alchemy University and grants available only to functional partners.