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Google greenlights NFT gaming ads, tightens gambling restrictions

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TL;DR Breakdown

  • Google has updated its advertising policy to allow ads for blockchain-based non-fungible token (NFT) games starting September 15, 2023.
  • The new policy permits ads for games that offer in-game purchases but continues to ban ads for games that involve gambling with NFTs.

Description

In a significant policy update, Google has announced that it will permit advertisements for blockchain-based non-fungible token (NFT) games, effective September 15, 2023. The move marks a departure from the tech giant’s previous stance, which had been more restrictive towards cryptocurrency-related advertising. A shift in policy The updated guidelines on Google’s support page specify that … Read more

In a significant policy update, Google has announced that it will permit advertisements for blockchain-based non-fungible token (NFT) games, effective September 15, 2023. The move marks a departure from the tech giant’s previous stance, which had been more restrictive towards cryptocurrency-related advertising.

A shift in policy

The updated guidelines on Google’s support page specify that NFT games meeting certain criteria will be allowed to advertise on the platform. These games must not promote gambling-related content and must be certified by Google. Acceptable NFT games include those that offer in-game purchases of virtual items such as apparel, weaponry, or armor to enhance the user experience or aid in-game advancement.

However, the policy continues to prohibit games that allow players to stake NFTs in exchange for fungible tokens like cryptocurrencies. Simulated casino gambling games offering the opportunity to win NFTs are also off-limits. Advertisers promoting gambling-related content that integrates NFTs must comply with Google’s Gambling and Games policy and receive proper certification.

The evolution of Google’s stance on cryptocurrency

This policy change is noteworthy given Google’s historical approach to cryptocurrency-related advertising. In March 2018, the company banned all such advertising across its platforms, citing consumer harm or the potential for it. Scott Spencer, the director of sustainable ads at Google at the time, stated that the company would approach cryptocurrency-related ads with “extreme caution.”

However, the ban was partially lifted in June 2021, allowing some companies creating “cryptocurrency exchanges and wallets targeting the United States” to advertise, provided they were registered with the United States Financial Crimes Enforcement Network or a federal or state-chartered bank entity.

The latest update represents another step in Google’s evolving stance on cryptocurrency and related products. It also reflects the growing mainstream acceptance of NFTs, which have become increasingly popular for various applications beyond digital art, including gaming.

Violations of the new policy will not lead to immediate account suspension. Instead, Google will issue a warning at least seven days before any account suspension, underscoring the company’s intent to enforce the policy judiciously.

The policy update is expected to have a significant impact on the NFT gaming industry, opening up new avenues for advertising and potentially boosting the sector’s growth. However, it also imposes clear boundaries, particularly concerning gambling-related content, ensuring that advertisers comply with both Google’s guidelines and local laws.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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