NFT startups shun Apple App Store due to high commission, tough rules

by Argus News

San Francisco, Sep 25: Non-fungible token (NFT) trading startups do not want to sell their offerings through Apple App Store because 30 per cent commission on in-app purchases, and other tough rules, will bleed them out.

According to a report in The Information, Apple is insisting that its regular 30 per cent commission from in-app purchases should also be paid on all trades.

This stopped NFT startup Magic Eden from offering trading on its app, even after Apple reduced its commission to 15 per cent for firms earning under $1 million annually.

"So far, though, most see some obstacles, including the up to 30 per cent commission Apple charges on in-app purchases, as well as pricing conventions that are difficult to apply to volatile digital assets,a the report mentioned.

A typical NFT marketplace charges just 2-3 per cent of the transaction.

However, under Apple's App Store policies, NFT startups will lose heavily on every deal.

Also, since App Store in-app purchasing must be done in dollars o r other currencies, it does not accept cryptocurrency.

Arthur Sabintsev from Blockchain firm Pocket Network was quoted as saying that this "makes it really hard to price it because you have to program all these values in dynamically."

"It feels like the position is that Apple doesn't really want (App Store) users to be able to purchase or sell NFTs," said Alexei Falin, CEO of NFT startup marketplace Rarible.

Apple said that its 500 reviewers check 90 per cent of apps within 24 hours. The company, however, did not comment on NFT startups' criticisms of the App Store.

According to Juniper Research, the global number of NFTs transactions is likely to rise from 24 million in 2022 to 40 million by 2027.

The report said that metaverse-linked NFTs will be the fastest-growing NFT segment over the next five years, increasing from 600,000 transactions in 2022 to 9.8 million by 2027.

(IANS)

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UP: Yogi Adityanath's Transparent Initiatives Result In Job Opportunities For Youth

by Hemanta Pande

Lucknow, Dec 5: In a major accomplishment for Uttar Pradesh Chief Minister Yogi Adityanath, the increased transparency in recruitments brought about in the state in recent years with the CM's initiatives, is not only ensuring the provision of employment to maximum number of youths, but also the appointment of the most deserving, meritorious and the eligible ones to vacant positions across sectors.

In this sequence, the state government held an appointment letter distribution ceremony for the second time in three days on Tuesday for the healthcare staff. The Chief Minister distributed appointment letters to a total of 278 assistant professors, 2142 staff nurses, and 48 Ayush Medical Teachers through public representatives in Lok Bhavan and other districts, read a statement from the chief minister's office.

Expressing their gratitude, newly appointed individuals attribute their success to the transparent recruitment process implemented by Chief Minister Yogi Adityanath. The youth believe that transparency has played a crucial role in their obtaining employment and has given them an acute sense of responsibility towards the work as well.

Earlier on Sunday, CM Yogi had distributed appointment letters to 242 Assistant Boring Technicians at Lok Bhavan.
One of the new recruits Dr Ved Prakash Upadhyay expressed pride in receiving his appointment letter at Lok Bhavan, stating that CM Yogi's address inspires him to work with dedication and also pay attention to both the treatments of patients and the education of children.

Sarojini Devi, a newly appointed Staff Nurse from Barabanki, commended the complete transparency maintained in government department appointments across the state.

Dr Anjali Chaudhary, who received the appointment letter for the post of Assistant Professor in Sultanpur, thanked Prime Minister Modi and CM Yogi for the fair selection. She said that recruitment based on a fair process boosts "our confidence and inspires us to do something new every day."

Mohd. Faizan Ansari, who has been appointed as an Assistant Professor in Kanpur Dehat, praised the impartiality of the appointment process and expressed gratitude towards the Yogi government. He said, "The honest appointment process has increased our responsibility as well. We have to work hard to deliver good results."

Also Read: National News

Yet another candidate Shweta Singh, a resident of Deoria, who has been selected for Basti, said that the appointment has taken place in a completely fair and transparent manner.

"In Uttar Pradesh, eligibility is the only criterion for selection. We obtained employment only by meeting this criterion. For this, we thank the Yogi government", she added. (ANI)

Nadda Meets PM Modi, Discusses CM Probables For MP, Rajasthan & Chhattisgarh

by Hemanta Pande

New Delhi, Dec 5: Bharatiya Janata Party (BJP) president JP Nadda on Tuesday met Prime Minister Narendra Modi at his official residence here to discuss the names for the post of chief minister in Madhya Pradesh, Rajasthan and Chhattisgarh where the saffron emerged victorious in the recently-concluded Assembly polls, a source said.

The BJP leadership has been holding discussions on the probable chief ministerial names since the results were announced on Sunday (December 3).

Senior party leaders, especially those who oversaw the election process in the three states, have met Nadda and Home Minister Amit Shah on Monday, as well as on Tuesday, to submit their feedback.

Read: BJP Will Win 400 Seats In Next Year's LS Polls: Goa CM

A source in the know of things said that Nadda is likely to share the feedback he received so far with Modi during his meeting with the Prime Minister.

The BJP retained power in Madhya Pradesh while it defeated the Congress in Rajasthan and Chhattisgarh to wrest power from the grand old party.(IANS)

Odisha Tops List In Deaths Due To Accidental Fire

by Hemanta Pande

Bhubaneswar, Dec 5: Odisha continues to top the list of states registering the highest number of deaths due to accidental fire in the country.

The latest report of National Crime Records Bureau (NCRB) on ‘Accidental Deaths & Suicides in India’ has revealed that 1219 persons including 906 males and 313 females died in fire accidents in the state during 2022.

Odisha recorded minor decrease in fire accident deaths in 2022 compared to 1248 deaths due to fire mishaps in 2021.

Meanwhile, Odisha also recorded 1222 fire mishaps which were highest among states in 2022. As per the report, the country witnessed as many as 7,566 cases of fire accidents during 2022.

The state accounted for 16.2 percent of the total fire mishaps occurred in the country in 2022.

As many as 446 persons including 403 males and 43 females died in 449 fire mishaps which occurred due to electric short circuit during 2022.

Also Read: Odisha Tops In Cyber Crime Cases Against Women Under IT Act: NCRB

The NCRB report also said that Odisha witnessed maximum accidental deaths due to the forces of nature such as lightning, heat or sun stroke, exposure of cold, drowning, falls, poisoning and accidental fire. The state has also recorded as many as 2445 accidental deaths due to these causes in 2022.

Similarly, Odisha with 316 deaths, held the third spot among the states with highest number of deaths due to lightning in 2022.

The NCRB report also reveals that Odisha after Maharashtra registered the maximum number of deaths due to accidental falls in 2022. The state registered 2324 deaths while Maharashtra reported 4236 persons died due to accidental fall in 2022.

NFT startups shun Apple App Store due to high commission, tough rules

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