Categories: Crypto News
| On
2023-09-07 5:50 PM

NFT Gaming Boom: Google Tightens Ad Policies 2023

  • Google, the global tech leader, has updated its cryptocurrency advertisement guidelines in September 2023, emphasizing stricter rules for blockchain games utilizing non-fungible tokens (NFTs), especially relevant for South Africa's burgeoning NFT gaming sector.
  • NFTs have gained immense traction in the gaming world, with South African developers leveraging them to decentralize in-game assets. These tokens ensure players own specific items, boosting engagement, and turning virtual assets into real-world economic value.
  • While Google's policies encourage innovation, they firmly disallow games promoting gambling-themed content. The guidelines permit advertising of games that let players buy in-game assets but clamp down on games with gambling motifs or those that let players stake NFTs for real-world monetary gains.
By Nonhlanhla

As the global cryptocurrency space undergoes rapid transformation, Google, the dominant search engine titan, is pivoting to address new frontiers in this domain. In a noteworthy announcement this September 2023, the tech giant laid out its refreshed approach to cryptocurrency advertisement, honing in on the surging trend of blockchain games that harness the power of non-fungible tokens (NFTs).

After setting a precedent with an initial update in August 2023, Google’s September revision promises to provide clearer direction, especially relevant for blockchain game innovators and marketers in South Africa, where NFT-related endeavours have been witnessing exponential growth. This move will encourage to balance the innovative spirit of the region’s developers with the need for responsible promotion and user protection.

NFTs, while first gaining attention with platforms like CryptoKitties back in 2018, have found a resurgence in the gaming sector. South African developers, along with global counterparts, have been leveraging NFTs to decentralize game assets, ensuring players can truly own specific in-game items. These tokens, despite bearing resemblances to cryptocurrencies such as Ethereum (ETH), have unique, non-interchangeable attributes, ensuring secure and transparent transactions.

South Africa’s gaming community has embraced NFTs’ potential, recognising their role in confirming the authenticity of in-game items, boosting user engagement, and even turning virtual assets into real-world economic value. This transformation can be attributed to the decentralized character of NFTs, spurring local developers to conceive more immersive gaming experiences.

But with great power comes great responsibility. Google’s forthcoming policies, while supportive of innovation, are unequivocal in their stand against misuse. The guidelines permit advertising of games allowing players to buy in-game assets like characters, skins, or other enhancements. However, they clamp down on games promoting gambling-themed content. Specifically, any blockchain game promoting social casino-style rewards in NFTs, directing players to gamble real money, or enabling the staking of NFTs for real-world monetary gains will find no place in Google’s advertising network.

This pivotal shift in Google’s advertising blueprint underscores the balancing act between supporting rapid technological evolution and ensuring responsible promotion in the thriving NFT and blockchain gaming arena. As the South African gaming sector continues to push boundaries with NFTs, Google’s policies serve as a reminder and guidepost for ethical innovation and marketing in the digital age.

Join Our Newsletter
Subscribe to our newsletter and stay updated.

Sponsored

Start trading with a free $30 bonus

Unleash your trading potential with XM—your gateway to the electric world of financial markets! Get a staggering $30 trading bonus right off the bat, with no deposit required. Dive into a sea of opportunities with access to over 1000 instruments on the most cutting-edge XM platforms. Trade with zest, at your own pace, anytime, anywhere. Don't wait, your trading journey begins now! Click here to ignite your trading spirit!

Nonhlanhla

Nonhlanhla P Dube is a senior news reporter. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her on: Email: nonhlanhla@rateweb.co.za

Tags: GoogleNFTs