Google, one of the internet behemoths that has a keen eye for cryptocurrency advertising, is once more creating a stir in the world of online advertising. Google now permits blockchain-based nonfungible token (NFT) gaming adverts, which is a significant policy shift. The catch is that these advertisements cannot promote gaming or anything associated with it.
This significant change in Google’s cryptocurrency ad policy was announced in a blog post and is scheduled to go into effect on September 15, 2023. NFT games are permitted under the amended regulation, but only if they meet certain requirements. It’s evident that there is a desire to balance user protection with the adoption of blockchain gaming innovation.
The Criteria for NFT Gaming Ads
Under Google’s updated policy, NFT gaming ads are permissible as long as the games adhere to certain guidelines. These guidelines include:
- In-Game Items: The game should allow players to purchase in-game items such as virtual apparel for characters, weaponry, or armor that can enhance the gaming experience or aid users in progressing within the game.
This shift demonstrates Google’s willingness to accommodate the growing popularity of blockchain-based gaming, where NFTs play a pivotal role. These nonfungible tokens, often unique and tradable, have opened up exciting possibilities in the world of gaming, enabling players to truly own and trade in-game assets.
Related: Google Approves NFT Games on Play Store, But Bans Gambling
The Gambling Gamble
While Google’s update signals a more inclusive stance toward blockchain gaming, it’s important to note that certain restrictions remain firmly in place. The policy unequivocally prohibits ads for games that permit players to wager or stake their NFTs against other players or for rewards. This includes bets involving cryptocurrencies and other nonfungible tokens.
NFT casino games, along with any social betting scenarios where players can stake or wager NFTs, cash, or cryptocurrency for real-world prizes, are also off-limits. Google is keen on maintaining a clear line between gaming and gambling, prioritizing user safety and responsible advertising.
A Glimpse into Google’s Cryptocurrency Ad Evolution
Google’s journey with cryptocurrency advertising has been nothing short of dynamic. In March 2018, the tech giant initially imposed a blanket ban on all cryptocurrency-related ads across its sprawling platform ecosystem. At that time, Google didn’t specify whether the ban was a permanent stance or subject to future reviews. Scott Spencer, the director of sustainable ads at Google during that period, emphasized the need for extreme caution when it came to cryptocurrency ads. Google had identified instances of consumer harm or the potential for such harm, leading to the cautious approach.
Fast forward to June 2021, and Google softened its stance, allowing select companies that operated cryptocurrency exchanges and wallets catering to the United States market to advertise on its platform. The caveat? These companies had to be registered with the United States Financial Crimes Enforcement Network as a money services business or a federally or state-chartered bank entity.
Google’s evolving stance on cryptocurrency advertising reflects the industry’s own evolution. As blockchain technology and cryptocurrencies continue to mature, Google seems poised to strike a balance between fostering innovation and ensuring consumer protection and regulatory compliance. With NFT gaming now in the spotlight, the digital advertising landscape is set for yet another intriguing chapter.
Related: Google Revises Privacy Policy to Meet New EU Requirements