Google's New Policy on NFTs and Cryptocurrency Advertising
Discover what Google's recent update to its crypto policy means for advertisers and the world of non-fungible tokens (NFTs).
Understanding Google's Update
In a recent change to its policies, Google has announced that starting from September 15th, advertisers promoting gambling-related content will no longer be allowed to advertise these products or services. However, this is just one part of a series of updates from the tech giant.
The Future of Cryptocurrencies and NFTs
According to Google's change log, set to take effect in September 2023, the company will update its policies regarding cryptocurrencies and related products. Specifically, Google aims to clearly define the scope and requirements for advertising blockchain-based games that involve non-fungible tokens (NFTs).
Promoting Blockchain Games
Google has clarified that promoting blockchain games involving NFTs is still allowed. However, there are specific conditions that must be met. For example, games where players can purchase in-game items like virtual apparel, weaponry, or armor will still be permitted as long as they are certified. These items can aid users in advancing within the game.
NFT Games and Restrictions
On the other hand, Google has highlighted NFT games that cannot be promoted. This includes games where players can wager or stake NFTs to win real-world items of value, as well as social casino games that reward users with NFTs. These restrictions are in place to protect users from potential risks and scams.
Consequences of Policy Violations
It's important to note that violations of this policy won't result in immediate account suspension without warning. Advertisements that violate the policy will receive a 7-day warning before suspension. Google aims to provide a fair chance for advertisers to comply with the updated guidelines.
Protecting Users from Scams
In a separate effort to safeguard users, reports from August 24th have revealed a new type of crypto scam. Scammers are buying ads for legitimate crypto websites and using URL injection to redirect users to malicious duplicate sites. It's crucial for users to stay vigilant and verify the authenticity of websites they visit.
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