News U Can Use: “Gaming Company Join Forces Against Virtual Lootboxes”

“The three big console makers have just pledged to put an end to the “gambling” aspect of lootboxes, meaning the gaming industry might finally put this whole shady moneymaking operation behind us — and not a moment too soon.

The Federal Trade Commission’s August workshop on lootboxes appears to have made some serious waves in the industry — within days, the Electronic Software Association (ESA) reports the three console manufacturers are “committing to new platform policies that will require paid loot boxes in games developed for their platforms to disclose information on the relative rarity or probability of obtaining randomized virtual items.”

That means Sony, Nintendo, and Microsoft won’t allow games on their consoles if they have what we currently recognize as lootboxes: the mystery crates you purchase which can either give you rare items or common rubbish. That would excise the main complaint against lootboxes: namely, that they somehow coax children into gambling habits by dint of being… well, gambling. If you know ahead of time what you’re going to get, you’ll at least be informed on how you’re spending your money…” 

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