In a significant move, Google has updated its cryptocurrency policy, allowing blockchain-based NFT games to promote their offerings through advertisements on its platform. This transformative decision marks a substantial shift from Google’s previous stance, where all cryptocurrency-related advertisements were banned. This shift has the potential to bring a wave of positive change to the Web3 gaming sector, facilitating the onboarding of new users. This development is especially crucial as the NFT industry currently lags behind the excitement and investments witnessed in 2021.
Google’s Policy Update
The revised policy is scheduled to take effect on September 15, 2023, less than two weeks from now. According to Google’s official announcement, “Beginning September 15, 2023, advertisers offering NFT games that do not promote gambling-related content may advertise those products and services when they meet the following requirements and are certified by Google.”
Exclusions and Unacceptable Content
Despite this significant shift, it’s important to note that certain types of games will still be excluded from advertising on Google’s platform. Specifically, games that promote gambling-related activities will remain prohibited. Google’s updated policy explicitly outlines the following as unacceptable for advertising:
- Promotion of Wagering or Staking: Games where players can wager or stake NFTs in hopes of winning real-world value, including other NFTs, are not allowed.
- Social Casino Games: Promotion of social casino games that reward NFTs is prohibited.
- Real Money Gambling Destinations: Any form of promotion related to “real money gambling” destinations, including ads that appear on game-related websites, will not be accepted.
However, it’s worth noting that Google’s policy update does make room for NFT games that offer in-game purchases. These purchases can include virtual apparel for a player’s characters, weaponry, or armor with improved stats. These items can be consumed or used within the game to enhance the user’s experience or assist in their progression.
A Boost for the Web3 Gaming Industry
While the year 2021 witnessed significant investments in Web3 games and the NFT space, many such games have faced challenges in attracting a substantial user base. Google’s policy shift comes as a potential solution to this problem. By allowing NFT game advertisements that adhere to their guidelines, it opens up new avenues for these games to reach a wider audience.
In conclusion, Google’s decision to update its cryptocurrency policy and permit blockchain-based NFT games to advertise is a game-changer for the Web3 gaming industry. This move not only provides a fresh opportunity for these games to thrive but also signifies a positive step towards mainstream acceptance of cryptocurrencies and NFTs in the digital landscape. As September 15 approaches, it will be interesting to see how this change shapes the future of NFT gaming.