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


rafapress/Shutterstock modified by Blockworks


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.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.


Also, former Valkyrie CEO lands new leadership role at Canadian investment firm Cypherpunk Holdings


This week’s biggest funding round saw Jump Trading, JPMorgan contribute to the round


Plus, a layer-1 for intellectual property is launching and Farcaster users peaked


Crypto still hasn’t shaken one of its most garish primordial tails — funny stories about fraud


Plus, publicly traded crypto companies had a pretty eventful news week


Committee members directed more questions to Christy Goldsmith Romero, who could soon be leading one of the more troubled federal agencies