(Loot Labs Press Image) A Seattle firm raised $1.5 million and launched a new platform for digital collectibles, bringing the “loot box” mechanic from video games into the NFT space.

"Loot boxes" are mystery boxes in a video game that pay out prizes or other items for in-game use. Players can earn loot boxes, but often purchase them with real-world money.

In PS games, loot boxes can be purchased using real money or in-game currency as well. Upon opening, the player receives random items that could be cosmetic (such as skins and avatars) or ...

While games such as Overwatch 2 include loot boxes that offer cosmetic items or gameplay advantages. The hugely popular EA Sports FC title features “Ultimate Team” packs, which players ...

In April 2020, the Entertainment Software Ratings Board, which oversees video game ratings, added a rating section to note when games include randomized in-game purchases such as "loot boxes ...

The ABC’s latest Four Corners report is an investigation into how video games are “deliberately designed to get people hooked”. It describes the use of gambling-like “loot boxes” in ...

These days, a lot of video games contain loot boxes, which when bought with in-game credits or real money, give you a random selection of items, with the chance to get some that are considered rare.

Loot boxes, rates, cases, chests, bundles and card packs are, in essence, virtual games of chance which can be purchased in video games. Players use real money to buy these virtual items, which ...

It discovered that 90% of the games had loot boxes but didn’t disclose them to players. These findings were in line with those of Leon Y Xiao, who is a video game regulation researcher at the IT ...

Traditional loot boxes generally contain random in-game items (loot) ranging from cosmetic items like skins to "pay-to-win" items such as weapons or other in-game abilities.

Australian Government Wants To Give 18+ Ratings To Any Game With Gambling Outright gambling will get an adults-only rating, while loot boxes will be rated M By Luke Plunkett Published March 29, 2023 ...

The study, by researcher Leon Xiao, looked at loot box advertising in popular games and their adherence to UK and EU regulations. For TikTok's ad library, Xiao sorted the ads with the highest number ...