FTC’s loot investigation is set for August 7th

Unites States FTC (Federal Trade Commission) has already set an official date for their promised investigation on loot boxes and to discuss the issues pertaining to loot boxes in video games. The investigation will be made in a form of a public workshop and it’s scheduled to happen on August 7th, 2019 at the Constitution Center, 400 7th St., Washington, DC. It is free of charge and everyone is welcome to join and watch it streamed live on their website. Speakers invited to the upcoming workshop are yet to be unveiled but attendees are expected to come from various industries, including a few consumer advocates, trade associates, professionals from the academe, and even government officials.

Aside from the date, the title of the workshop has also been released, "Inside the Game: Unlocking the Consumer Issues Surrounding Loot Boxes." From the title itself, it's safe to assume that the main purpose of said event is to look deeper on the issues regarding loot boxes, including its origin and how they evolved to their current state, the researches that have been done related to their impact to children’s behaviors, and the ways of protecting and spreading awareness to the consumers. The workshop will also discuss in depth the in-game transaction landscape and the marketing mechanics pertaining to loot boxes.

Simply put, loot boxes are in-game rewards that have random virtual items to assist the players in advancing in an online game. There are also items to help players change their avatars. These loot boxes are bought using a virtual currency which they can earn in the game or they can also purchase them using their own real money. This method of selling and buying of virtual items produces a huge amount of revenue for game developers, however, there are issues being raised on the techniques used to market and promote loot boxes. Some are also concerned about them being a form of gambling that can lead teens to get addicted to these in-game purchases for the sake of advancing to the next level. FTC looks to improve the workshop, so if you have any suggestions do drop them online at [email protected] or via written letter. They are open for suggestions until June 7th and for written letters until October 11th.