With effect from September 15, Google will modify its advertising guidelines in a ground-breaking step to accept blockchain-based NFT gaming commercials. A catch, though, is that these advertisements cannot advocate gambling or gambling-related products.
According to Google’s blog post, NFT games that allow players to purchase in-game items like virtual apparel, weaponry, or armor will now have the green light for advertising. These items, when used in the game, enhance the player’s experience and aid them in progressing through the gameplay.
Yet, there’s a line Google won’t cross. Advertisements for games that involve wagering or staking NFTs against other players or for cryptocurrency rewards will remain strictly prohibited under the new policy. NFT casino games and any social betting paradigms that offer real-world prizes such as NFTs, cash, or cryptocurrencies will also stay on the blacklist.
To promote gambling-related content integrated with NFTs, developers and publishers must follow Google’s Gambling and games policy and obtain the necessary Google Ads certification.
This move marks a significant change in Google’s stance on cryptocurrency-related advertising. Back in 2018, Google imposed a blanket ban on cryptocurrency ads, citing concerns about consumer harm. But in June 2021, the lifted the ban the subsequent crypto winter in 2022 hit their ad revenues badly.
“Reduced ad spending by financial companies, notably those dealing with crypto assets, has been largely cited by Google as the cause of a slowdown in revenue growth,” stated Philipp Schindler, Google’s Chief Business Officer. The impact of the macroeconomic environment on the ad business, particularly during the Covid-19 outbreak, had significantly affected revenue.
In another development, Google Cloud has forged a partnership with Celo, a proof-of-stake blockchain protocol. This collaboration aims to support sustainability-focused startups within the Celo network and assist them in building and scaling Web3 applications prioritizing environmental sustainability.
Furthermore, Google Cloud has ventured into the Solana blockchain, intending to provide features that attract Solana developers and node runners. The Blockchain Node Engine, already functional with Ethereum, will expand its services to the Solana chain in 2023. With these shifts in Google’s approach to cryptocurrency and blockchain technology, it’s clear that the tech giant is evolving alongside the rapidly changing crypto landscape.
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