New changes to take effect from Sep. 15
Google has announced updates to its cryptocurrency advertising policy, allowing for the promotion of blockchain-based NFT gaming advertisements. The new changes, set to go into effect on September 15, will only apply to games that meet specific criteria.
Criteria for eligible games
The updated policy will permit advertisements for NFT games that allow players to purchase in-game items such as virtual apparel, weaponry, or armor to enhance the gaming experience. These items can be consumed or used to advance the game. However, the ads must not promote gambling or gambling services.
Restrictions on gambling-related NFT games
Under the new policy, ads for games that allow players to wager or stake NFTs against others, or offer rewards in the form of cryptocurrencies and other NFTs, will continue to be banned. This includes NFT casino games and any social betting paradigm that involves real-world prizes like cash or cryptocurrency.
Requirements for gambling-related content with NFTs
Developers and publishers seeking to run ads promoting gambling-related content integrated with NFTs will need to comply with the Gambling and games policy and obtain the necessary Google Ads certification.
Background on Google's cryptocurrency ad ban
Back in March 2018, Google implemented a complete ban on cryptocurrency-related advertising across its platforms. It was unclear whether this ban would be permanent or subject to review in the future. At the time, Google's Director of Sustainable Ads, Scott Spencer, emphasized the need for caution due to the potential for consumer harm associated with cryptocurrency ads.
Previous softening of the ban
In June 2021, Google partially lifted the ban to allow certain companies engaged in cryptocurrency exchanges and wallets targeting the United States to advertise on the platform. However, these companies had to be registered with FinCEN as a Money Services Business or be a federal or state-chartered bank entity.
