Starting September 15, you’ll start seeing more NFT gaming ads on Google as the tech giant recently updated its cryptocurrency advertising policies.
The updated policy now allows ads for NFT games that allow players to purchase in-game items such as virtual clothing, weapons or armor, enhancing the gaming experience.
However, the updated policy prohibits advertising of all “betting or betting services” – so don’t expect ads for games related to:
- Games that promote NFT bets or strikes in exchange for the chance to win something of real value (including other NFTs);
- Games that allow players to wager NFTs in exchange for other digital currencies, including the promotion of “social casino games” that reward players with an NFT;
- Games that simulate casino gambling, such as poker, slots or roulette, may allow players to win an NFT;
- Games that promote real money gambling destinations, including gambling-related ads that appear at your game destination.
To legally advertise gambling-related content incorporating NFTs, developers and publishers must obtain the appropriate Google Ads certification and adhere to Google’s Gambling and Games Policies.
The revised policy also bans NFT casino games and any social gambling systems that allow users to wager NFTs, cash or cryptocurrencies for real rewards.
Developers and publishers wishing to promote gambling-related content that includes NFTs must adhere to Google’s Gambling and Games Policies and obtain the appropriate Google Ads certification.
Previous Global ban on crypto
This shift in Google’s advertising policies marks a notable change since March 2018, when Google instituted a blanket ban on all crypto-related advertising on its platforms. Ultimately, this raised questions about whether this ban would be permanent or in need of revision.
Scott Spencer, Google’s director of sustainable advertising at the time, cited concerns about potential consumer harm as a reason for the cautious approach to cryptocurrency advertising.
However, the tech giant lifted the ban in June 2021, allowing certain crypto-related companies, particularly “cryptocurrency exchanges and wallets targeting the United States,” to advertise on the platform. However, these companies had to be registered with the United States Financial Crimes Enforcement Network as a money services company or as a federal or state-chartered banking entity.
It is worth noting that the lifting of the ban has left no room for ICO advertisements, DeFi trading protocols or other mechanisms that sought to promote the buying and selling of crypto or other similar products.
The new policy change signals a more nuanced approach to crypto- and blockchain-related advertising, making this an interesting, but highly risky, decision by Google’s parent company, Alphabet, to better publicize the nature of the NFT landscape.
Editor’s note: This article was written by a staff member of nft now in collaboration with OpenAI’s GPT-3.