Most of us must be already familiar with the term ‘Loot Boxes’. Well if you are someone who isn’t familiar with the term, then here it is:
Wikipedia defines Loot Boxes as, “In video games, a loot box (also called a loot/prize crate) is a consumable virtual item which can be redeemed to receive a randomized selection of further virtual items, or loot, ranging from simple customization options for a player’s avatar or character to game-changing equipment such as weapons and armor. A loot box is typically a form of monetization, with players either buying the boxes directly or receiving the boxes during play and later buying “keys” with which to redeem them.”
And now an announcement surrounding ‘loot boxes’ came in during a US Federal Trade Commission workshop called Inside the Game: Unlocking the Consumer Issues Surrounding Loot Boxes where Entertainment Software Association (ESA) revealed that the three major players of the video game industry namely Microsoft, Sony, and Nintendo are into talks over implementing new policies concerning ‘Loot Boxes’. They are keenly encouraging all the leading publishers into disclosing the odds of receiving different types of in-game items from loot boxes in all future titles.
The ESA also revealed many other “leading publishers” have promised to get involved:
As well, many of the leading video game publishers of the Entertainment Software Association have decided that they are going to implement a similar approach at the publisher level to provide consumers this information and give them enhanced information to make purchase decisions.
Other major ESA publishers who have committed to being involved in the policy include Activision, Electronic Arts, Blizzard, Bandai Namco Entertainment, Bethesda, Ubisoft, Take-Two Interactive and Warner Bros. Interactive Entertainment. However, many known ESA publishers who have decided to stay away from being involved in disclosure of odds of loot boxes are 505 Games, Capcom, CI Games, Deep Silver, Disney Interactive Studios, Epic Games, Focus Home Interactive, Gearbox Publishing, GungHo, Intellivision Entertainment, Kalypso, Konami, Magic Leap, NCsoft, Natsume, Nexon, Rebellion, Riot Games, Sega, Square Enix, THQ Nordic, Tencent, and Marvelous
We don’t know yet how well this goes out but we can surely say this is a bold step taken by the top 3 players of the video gaming industry as it might restrict people from spending unnecessary money on ‘loot boxes’.