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Loot box. Mock-up image of opening a loot box in a video game. In video game terminology, a loot box (also called a loot crate or prize crate) is a consumable virtual item which can be redeemed to receive a randomised selection of further virtual items, or loot, ranging from simple customization options for a player's avatar or character to ...
Loot boxes are another form of microtransactions. Through purchasing a loot box, the player acquires a seemingly random assortment of items. Loot boxes result in high revenues because instead of a one-time purchase for the desired item, users may have to buy multiple boxes. This method has also been called a form of underage gambling. Items and ...
Skin gambling. In video games, skin gambling is the use of virtual goods, often cosmetic in-game items such as "skins", as virtual currency to bet on the outcome of professional matches or on other games of chance. It is commonly associated with the community surrounding Counter-Strike 2 (formerly Counter-Strike: Global Offensive ), but the ...
Loot (video games) In video games, loot is the collection of items picked up by the player character that increase their power or level up their abilities, such as currency, spells, equipment and weapons. Loot is meant to reward the player for progressing in the game, and can be of superior quality to items that can be purchased.
Another monetization approach developed in the 2010s was the use of loot boxes. Loot boxes, which go by many different names, are earned by players as part of progressing in a game, can be purchased with in-game money or through real-world funds, or otherwise offered as promotional items; when opened (either freely or by purchase of a special ...
Gacha mechanics have been compared to those of loot boxes. A gacha game (Japanese: ガチャ ゲーム, Hepburn: gacha gēmu) is a video game that implements the gachapon machine style mechanics. Similar to loot boxes, gacha games entice players to spend in-game currency to receive a random in-game item. Some in-game currency generally can be ...
Loot boxes came under intense government and media scrutiny in 2018 as it felt these mechanics were too close or were like gambling, and would violate their local laws. Some countries like Denmark and the Netherlands banned the use of loot boxes, while other countries like the United States and United Kingdom urged the video game industry to ...
Loot Crate was founded in 2012 by Wes Hartman (Founder and honorary president for life with 57% of the company's shares) Chris Davis and Matthew Arevalo, who aimed to create a " comic-con in a box". By 2014 the company had over 200,000 subscribers in 10 countries. [ 2]