Floor opens NFT buys in-app, will absorb 30% fees from Apple and Google

NFT app Floor hopes it can onboard enough buyers to counter Apple and Google’s costly fees and stand out from the competition

article-image

rafapress/Shutterstock modified by Blockworks

share

Mobile NFT platform Floor will let users buy NFTs in-app, but to do so, it intends to absorb the 30% fees charged by Apple and Google.

Floor, like other NFT marketplace apps, wants to provide a single venue in which to view, trade and collect NFTs. Apple updated its policy last September to allow NFTs to be bought and sold through apps listed on its Store, though it came with a significant catch

As is the case with non-crypto apps, the tech giant demands a 30% cut on in-app purchases from developers who make more than $1 million annually through its store and 15% for those making less.

Google has a similar fee structure in place. Approved app categories on Google’s Play Store now include games that offer NFTs as rewards, as well as crypto exchanges and wallets. 

NFT marketplaces have broadly avoided the fees altogether simply by not allowing in-app purchases. OpenSea, for example, only lets users view their own NFTs and browse those offered on the platform. Its app directs users to its website to actually buy and sell NFTs.

Floor’s founders — former executives at Robinhood and Venmo — hope the ability to buy NFTs directly app will set it apart from the competition.

“Marketplaces like OpenSea can’t operate on mobile today,” co-founder Chris Maddern told Blockworks in an interview. “The ‘marketplace’ exemption doesn’t apply to NFTs and 30% on a peer-to-peer purchase is unviable.”

Though when it comes to primary sales (from artist to collector), Floor believes the remaining 70% will be enough for its business to remain in the black.

What in-app purchases look like on Floor

Floor raised $8 million in a Series A in June last year, in a round participated by Crypto.com, Eberg Capital and 8th Man Ventures, among others. The name refers to NFT “floor prices,” the lowest value of tokens in a particular collection.

The firm hopes its absorption of the 30% fee leads to an industry-wide push to reduce Apple and Google’s take.

In a statement, Floor said it is working with 10 prominent Web3 artists including Vinnie Hager to launch weekly drops available through in-app buys. 

Floor says the app, launched on both Apple and Google app stores last year, has around 25,000 users. It features support for NFTs across Ethereum, Polygon and Solana. More support for other networks is expected in the coming months.


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
  • Supply Shock: Tracking Bitcoin’s rise from internet plaything worth less than a penny to global phenomenon disrupting money as we know it.
Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

tg trading bot report graphic.png

Research

Telegram trading bots have found their primary niche in highly speculative token launches and retail-dominated memecoin markets, with many features specifically tailored to token sniping and copy-trading strategies.

article-image

Crypto may benefit from developments during the second quarter after a rough start to the year

article-image

With a friendlier regulatory outlook and the airdrop flow being stemmed, some are looking to how new native tokens can become valuable assets

article-image

The recent action paints an uncertain picture for future monetary policy moves

article-image

Is the finance world becoming “more liquid”? Experts give their takes as TradFi players consider new moves

article-image

Ethereum core developers debated a major overhaul of the EVM, weighing complexity and benefits