Google has revealed its intention to permit advertisements on NFT games starting from September 15th, provided they do not involve gambling.
This updated stance is a component of Google’s revised advertising policy concerning cryptocurrencies and associated offerings.
Google has updated its advertising policy regarding the crypto, blockchain and non-fungible token (NFT) industry for the month of September 2023. Particularly, the search engine stated that advertisers who provide blockchain-based and NFT games will be allowed to post new ads.
In practice, Google will allow advertisements for all NFT games that enable players to acquire in-game items utilized to enhance their gaming experience or advance within the game.
These in-game items include virtual clothing for characters, weaponry, or armor with improved statistics, as defined by Google. Equally, Google excludes all blockchain-based and non-fungible token games that consist of betting and gambling.
The internet behemoth further clarified the specific types of NFT games that will not be eligible to display advertisements.
This list encompasses the advertising prohibition of social casino games that grant NFT rewards, such as poker, slots, or roulette, which provide opportunities to obtain non-fungible tokens.
Furthermore, Google’s updated cryptocurrency advertising policy also excludes games where players can stake NFTs in the hopes of winning tangible, real-world value, including other NFTs.
For such game categories, advertisers must adhere to the Gambling and Gaming Policy and obtain certification from Google Ads.
Google further underscores the importance of NFT game advertisers adhering to local regulations in the specific geographical regions where their ads are directed.
Failure to conform to this revised policy will result in Google issuing a warning and suspending the account, with the suspension taking effect at least 7 days after the warning.
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Bans, re-openings and updates
In 2018, Google implemented a ban on cryptocurrency-related advertising across its platforms, without specifying whether this restriction was of a temporary or permanent nature.
However, on August 3, 2021, the internet giant reversed its stance and opted to once again allow access to the cryptocurrency sector. Initially, this reopening permitted advertisers in the United States to promote their businesses as exchanges or wallet providers.
In this scenario, U.S. advertisers were required to obtain certification from the Financial Crimes Enforcement Network (FinCEN).
Now, Google is expanding this policy to encompass NFT games, and it’s important to note that these regulations apply on a global scale.
Source: https://econintersect.com/unlocking-the-future-googles-game-changing-move-to-advertise-nft-games-starting-september-15th