Alphabet Inc.'s (NASDAQ: GOOG) (NASDAQ: GOOGL) search engine Google will update its advertising policy related to cryptocurrency and blockchain-based games, effective Sept.15, 2023.
This will clarify the rules around promoting NFTs, NFT gaming, blockchain gaming and related products on Google Ads. With this updated policy, which will apply globally across all accounts, Google aims to balance innovation and responsible advertising.
Google first started to allow crypto ads in June 2021.
Like this recent change in Google policy, it's important to keep up with the changes happening around the crypto world and Benzinga's Future of Crypto event will address this and trends such as AI, regulations, SEC actions and institutional adoption in the crypto space.
What's in the Policy Update? Advertisers have now been granted permission to run ads for NFT games, excluding any gambling promotion. Acceptable NFT game ads include those promoting in-game purchases of items such as virtual apparel, weapons, or armor to make the users' experience richer.
The ad policy will not allow any promotion of social casino games that reward NFTs, promotion of games where players can barter NFTs and any promotions related to real money gambling destinations.
Advertisers also need to adhere to certain specific requirements and be certified by Google. When promoting gambling-related NFT content the companies need to comply with Google's gambling policy and obtain the proper certification.
Any violations will not lead to immediate account suspension, instead, advertisers will receive a warning at least seven days prior to a potential suspension.