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Meghalya Pant 87 days, 5 hours ago

Google is making aggressive efforts to control and manage the marketing of blockchain-based games.

Google’s Updated Crypto Ad Policy

Google, the world’s biggest search engine and digital behemoth, has announced plans to update its cryptocurrency advertising policy in September 2023. This update’s major purpose is to clarify the “purpose and necessities for the advertisement of blockchain-based games involving non-fungible tokens (NFTs).”

The search engine’s major move demonstrates its growing appreciation of the relevance of NFTs in the ever-expanding blockchain and crypto ecosystem.

The Role of NFTs in Blockchain Gaming

Non-fungible tokens (NFTs) have grown from a fringe curiosity to a key participant in the world of blockchain and cryptocurrencies.

Although NFTs originally gained popularity with the release of CryptoKitties in early 2018, it wasn’t until late 2020 and early 2021 that they started developing applications outside of the domain of art.

NFTs are seen as a game-changer in the gaming industry. They are being used by developers to decentralize ownership, providing users with genuine ownership of in-game assets.

Non-fungible tokens have unique qualities akin to cryptocurrencies such as Ethereum (ETH), yet they are indivisible and irreplaceable. Furthermore, because NFT transactions are completely open and safe, they are suitable for in-game economies. The NFT user base is expected to reach 19.31 by 2027.

NFT transactions

Source: Statista

The Influence of NFTs in Gaming

Because of these distinguishing characteristics, NFTs have infiltrated numerous games, enabling interoperability, boosting player-driven economies, and even permitting players to change their virtual goods into monetary worth.

NFTs have played an important role in establishing the authenticity and scarcity of in-game goods, promoting gaming community participation, and offering revenue prospects for both gamers and collectors.

To put it simply, the decentralized nature of NFTs has become a keystone in the field of blockchain gaming, driving developers to build deeper and player-centric gaming experiences.
Gaming Market graph

Google’s Advertising Guidelines for NFT Games

Google is making aggressive efforts to control and manage the marketing of blockchain-based games in light of the rising importance of NFTs in gaming. The search engine will allow game creators and marketing companies to display adverts on its network as part of a planned upgrade on September 15th, but certain conditions must be satisfied.

Importantly, Google will not allow NFT game adverts that promote gambling-related material. This limitation is intended to safeguard users from potentially hazardous gaming experiences while also preserving the integrity of Google’s advertising network.

Google defines legal NFT games as those that allow users to buy in-game assets like characters or skins to improve their gaming experience or advance in the game. These rules are intended to promote a good gaming environment while also allowing for the usage of NFTs in non-gambling situations.

Google, on the other hand, has established firm limits by forbidding adverts for blockchain games that promote social casino games that award NFTs or drive players to real-money gambling services. Furthermore, games in which players may gamble or stake NFTs for the possibility of gaining real-world value will be ineligible for advertising on Google’s platform.

NFT game commercials that promote in-game purchases of products such as virtual attire, weaponry, or armor that improve the user’s experience are permitted. Google, on the other hand, will continue to block gaming advertising in which users may gamble or stake NFTs to win cryptocurrencies or other NFT rewards.

Simulated casino games utilizing NFT prizes will continue to be prohibited. Ads that direct viewers to gaming sites that employ NFTs will be prohibited.

Closing Thoughts

Google’s move to change its cryptocurrency marketing policy demonstrates the rising relevance of NFTs in blockchain gaming. Google hopes to strike a balance between encouraging game innovation and protecting consumers from potentially hazardous experiences by offering explicit standards. This action benefits gamers while also setting a precedent for proper advertising in the crypto and blockchain area. Google’s proactive attitude sets a great precedent for the industry as the world of crypto continues to expand.

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Google’s Updated Crypto Ad Policy Creates Balance Between Innovation & Responsibility was originally published in Invest Gaming Journal on Medium, where people are continuing the conversation by highlighting and responding to this story.




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