Google, the world’s leading search engine and technology company, will make significant changes to its advertising policies concerning cryptocurrencies in September 2023. These changes are aimed at providing clear guidelines for advertising blockchain-based games involving non-fungible tokens (NFTs).
The tech giant initially announced these updates in August 2023. However, it plans to introduce fresh revisions this September. This update is particularly important for blockchain game developers and advertisers who rely on NFTs as incentives or part of their game economics.
Google’s New Stance on NFT Ads
Google’s revised advertising policy will now permit the promotion of blockchain-based non-fungible token (NFT) ads. Advertisers can market these NFT games as long as they adhere to specific ad requirements and do not promote gambling-related content.
Starting from September 15, 2023, advertisers can promote products and services related to NFT games. This includes the sale of in-game items such as virtual clothing for characters, weaponry, or armor with improved stats that enhance the gaming experience for users.
Google’s Restrictions on NFT Game Advertisements
While Google is opening its doors to NFT game advertisements, it’s important to note that some limitations remain in place. Google will continue to prohibit game ads that involve wagering or staking NFTs to win cryptocurrencies or other NFTs.
Additionally, simulated casino games that reward NFTs and advertisements that promote NFT-integrated “real money gambling” will not be allowed under Google’s updated policy.
Google’s approach to cryptocurrency advertising has evolved over the years. In 2018, the company banned all crypto-related advertising across its online platforms, citing concerns about potential harm to consumers. Scott Spencer, Google’s director of sustainable ads, emphasized the need for caution at that time.
However, in 2021, Google made a partial reversal of its ban, allowing advertisers offering “cryptocurrency exchanges and wallets targeting the United States” to advertise, provided they registered with the US FinCEN or a federally chartered bank entity.
The recent relaxation of Google’s advertising policy is indicative of the rising trend in NFT gaming. More investors are injecting capital into the development of esports and innovative experiences that were previously inaccessible.
Adherence to Policy and Global Application
Under the new policy, NFT-related gaming advertisers will need to comply with Google’s Gambling and games policy and obtain the necessary Google Ads certification. Advertisers are also reminded to adhere to local laws applicable to the regions they intend to target with their advertisements.
It’s important to note that this policy will apply globally to all accounts advertising NFT-related gaming products. To enforce these policy changes, Google will issue a warning to advertisers who violate the new guidelines. Advertisers will have at least 7 days to rectify any issues. Failure to comply may result in account suspension.
Final Thought
Google’s upcoming advertisement policy update reflects its response to the growing prominence of NFT gaming. These changes aim to strike a balance between enabling innovation in the blockchain gaming industry and ensuring responsible advertising practices. Advertisers in this space should prepare to comply with the new guidelines as they come into effect in September 2023.