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HomeSoftwareAppsGoogle is setting out rules for blockchain-based apps on Android.

Google is setting out rules for blockchain-based apps on Android.

Google has updated its content policy for Android apps to clarify the rules for blockchain-based apps. On December 7, 2023, a new policy will go into effect that addresses issues like cryptocurrency exchanges and software wallets, transparency standards, and guidelines for NFT gamification that would address items like loot boxes.

The new guidelines for tokenized digital assets secured on a blockchain state that:

  • Google’s current financial services policy must be followed by apps that let users purchase, sell, or trade cryptocurrencies.
    Applications that let users store bitcoins need to adhere to Google’s current data security policy.
  • Google’s current gambling policy must be followed by apps that let users wager cryptocurrency.
  • Google’s current policy on loot boxes must be followed by apps that let users create or sell NFTs.

Google has also made it clear that the Google Play Store will not accept applications that let users mine bitcoins.

The new regulation provides much-needed clarification for programmers creating blockchain-based Android applications. It offers crucial direction on what is and isn’t permitted in the Google Play Store.

The NFT market is expanding quickly at the same time as the policy. The NFT market generated more than $25 billion in trade volume in the first half of 2022. The proliferation of NFT apps is anticipated to accelerate in the years to come, and Google’s new policy will make it easier for Android users to use NFT apps that are secure and legal.

What NFTs Are Going to Explode in 2023?

Even though the NFT market is still in its infancy, it has already experienced rapid expansion. The market recorded a trade volume of more than $25 billion in 2021. In the upcoming years, this rise is probably going to continue, and some NFTs are about to become immensely popular.

Here are a few NFTs that could explode in 2023:

NFT CryptoPunks
CryptoPunks are a collection of 10,000 unique NFTs that were created in 2017. They are some of the most popular NFTs in the world, and their value has continued to grow. A platform called Art Blocks Curated enables artists to produce generative NFTs. These NFTs are all distinct and were produced using algorithms. One of the most well-liked platforms for generative NFTs is Art Blocks Curated, and its worth is likely to rise in the future.

Decentraland Virtual Real Estate
The Ethereum blockchain is the foundation of the virtual world Decentraland. In Decentraland, users can purchase, sell, and develop land, which is represented by NFTs. Virtual property in Decentraland has increased dramatically in value recently, and this trend is expected to continue in 2023.

These are only a few NFTs that might become quite popular in 2023. Since the NFT business is still developing, it is impossible to predict with certainty which NFTs will be profitable. But each of these NFTs has demonstrated potential, so it’s important to keep an eye on them.

How to Set Up an NFT in India

The NFT market is growing rapidly in India, and there are a number of ways to set up an NFT in the country.

Here are the steps involved:

  1. Choose an NFT platform. There are a number of NFT platforms available in India, such as WazirX, ZebPay, and CoinDCX.
  2. Create an account on the NFT platform.
  3. Select the NFT that you want to buy.
  4. Pay for the NFT.
  5. Store the NFT in a digital wallet.

Once you have set up an NFT in India, you can start selling it on the NFT platform. You can also use the NFT to access exclusive content or experiences.

Setting up an NFT in India is a relatively simple process. However, it is important to choose a reputable NFT platform and to store the NFT in a secure digital wallet.

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