(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 ...

Summer break is here, which means school is out, no more homework, and it’s time to have fun. The lack of routine and ...

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 ...

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 ...

Loot boxes are virtual items that players can buy in video games. They are typically offered as optional microtransactions, allowing players to spend real or in-game currency to obtain these boxes.

Loot boxes, which can be bought or offered as rewards for achieving certain goals within a game, also have come under fire over concerns that they encourage addictive behavior, especially by children.

For that dig above about free-to-play games seeing anything less than 1% being the same, I first went looking for Diablo Immortal's loot box odds disclosures because they've been mandated on the ...