Google has announced updates to its advertising policies regarding cryptocurrencies and non-fungible tokens (NFTs), set to take effect from September 15, 2023.
These changes aim to provide clearer guidelines for advertising blockchain-based games involving NFTs, offering a balanced approach between the nascent industry and responsible advertising.
Specifics of Google’s NFT Game Advertising Rules
Starting on September 15, 2023, Google will allow advertisers to promote Non-Fungible Token (NFT) games that do not involve gambling-related content. However, there are specific requirements and certifications that advertisers must meet to run these ads successfully.
Acceptable NFT game advertisements include those that promote in-game purchases such as virtual apparel, weapons, or armor. These advertisements or ads will open up new marketing opportunities for advertisers to potentially reach an untapped market.
However, according to the changelog, the company will continue to prohibit advertisements for games where players can wager or stake NFTs to win cryptocurrencies or other real-world value items besides NFTs, saying,
“Promotion of games where players can wager or stake NFTs in exchange for the opportunity to win anything of real-world value (including other NFTs)”.
Additionally, ads promoting simulated casino games with NFT rewards will remain banned. Any ads directing users to gambling websites that incorporate NFTs will also be disallowed.
For advertisers aiming to promote gambling-related NFT content, strict adherence to Google’s gambling policy and obtaining the necessary certification will be mandatory. These policy changes will apply globally to all accounts advertising cryptocurrency and related products.
Consequences of Non-Compliance
Google emphasizes the importance of advertisers complying with local laws in regions where their ads are targeted.
Although Violations of this policy will not result in immediate account suspension without prior warning, the company will issue a warning at least seven days before any potential suspension.
Google’s decision to update its advertising policies concerning cryptocurrencies and blockchain-based games reflects the growing popularity of non-fungible tokens (NFTs) and blockchain gaming.
Meanwhile, these changes also address regulatory concerns surrounding gambling within this burgeoning space. With these new guidelines, Advertisers now have the opportunity to explore and expand their reach within the entire Web3 market while adhering to relevant rules.