Google, the world’s most popular search engine and tech company, plans to update its cryptocurrency advertisement policy in September 2023. The tech giant intends to clarify “the scope and requirements for the advertisement of blockchain-based games involving non-fungible tokens (NFTs).”
Although the initial update was shared in August 2023, they plan to share fresh updates this September, providing a way forward for blockchain game developers and advertisers, especially those relying on NFTs for incentives or as part of their game economics.
NFTs And Blockchain Gaming
The NFT scene is now a core part of the expanding blockchain and crypto scene. Although NFTs gained mainstream prominence in early 2018 with the rise of CryptoKitties, it wasn’t until late 2020 and throughout 2021 that they found use cases in various sectors beyond art.
The technology has found diverse applications in gaming where developers aim to decentralize ownership, allowing players to own certain in-game assets. This is because NFTs, unlike fungible tokens, share other crucial properties with coins like Ethereum (ETH) but cannot be exchanged. Their transactions are transparent and secure.
Ethereum price on September 6: Source: ETHUSDT on Binance, TradingView
Accordingly, based on these features, NFTs have been integrated widely across different games to foster interoperability, encourage player-driven economies, and sometimes allow users to cash out for tangible value.
With the technology incorporated in more games, NFTs have helped establish the authenticity and scarcity of assets, boost general engagement in the broader gaming community, and even offer income opportunities for gamers and collectors.
Overall, the decentralized nature of NFTs is emerging to be a lynchpin in blockchain gaming, motivating developers to create even more engaging games.
Google Lays Down Rules Guiding NFT Games Advertisement
Therefore, despite their varied use cases, Google plans to introduce stringent measures to prevent abuse of the technology. As part of their update, Google will allow game developers or market agencies to run advertisements on its network, provided the NFT game doesn’t promote gambling-related content.
Google explained that examples of these games include games that allow players to buy in-game assets like characters or skins that will be used in the game to enhance user experience or enable players to level up.
The technology giant, on the other hand, bar adverts of blockchain games promoting social casino games rewarding NFTs, those directing users to “real-money gambling destinations,” or games “where players can wager or stake NFTs in exchange for the opportunity to win anything of real-world value.” This means Google won’t run advertisements for NFT games that offer in-game rewards that can be converted into tokens like Bitcoin (BTC).
Feature image from Canva, chart from TradingView
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Author: Dalmas Ngetich