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New Apple rules double down on 30% NFT ‘tax’ and geo-limits exchanges
Technology heavyweight Apple has clarified its App Store rules around nonfungible tokens (NFTs) and cryptocurrency exchanges marking the first time its codified specific rules for NFTs. The new rules confirm how NFT purchases will be taxed and what they can and can’t be used for, while also clarifying rules around when a crypto exchange app can be listed. The Oct. 24 update to its App Store guidelines saw language added that allows fo in-app purchases of NFTs, but bars any NFTs acquired elsewhere to be used for anything other than viewing. It also allows applications to use in-app purchases to “sell and sell services” related to NFTs such as “minting, listing, and transferring.” However, the tech company is seemingly double-downing on its NFT “Apple tax” — which lumps in-...
Adele’s ’30’ Sales Prove She Can Still Deliver at Retail in a Streaming Industry
With Adele’s 30 breaking through with 1.45 million album consumption units and selling consistently with the holiday sales rush in full force, an initial fear that Columbia/Sony Music may have shipped too much product into the U.S. marketplace has dissipated. While it didn’t take off like a moonshot the way 25 did when it opened with 3.5 million units sold in 2015, Adele’s latest “did fantastic in the debut week and now there are consistent sales,” says one physical music executive. “This title feels like it definitely has legs.” Nevertheless, industry sources initially speculated that Sony had shipped anywhere from 1.2 million to 1.7 million pieces of physical product in the U.S., with that higher figure fueled by the belief that as much as 1 million combined CD and vinyl albums went to T...
