Loot boxes are a mechanic used in some video games that provide players with a way to obtain virtual items for in-game use. These items vary, but typically include collectibles, character outfits, virtual currency, player bonuses and weapon camouflages or “skins”.

Every month, you'll get a crate of 3+ items from your favorite pop culture franchises, including licensed and exclusive collectibles, gear, figures and more!

Loot box concepts originated from loot systems in massively multiplayer online role-playing games, and from the monetisation of free-to-play mobile gaming. They first appeared in 2004 through 2007, and have appeared in many free-to-play games and in some full-priced titles since then.

History. 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.

Loot boxes are mystery bundles of virtual items related to a video game. They can be won by a gamer as a reward or can be purchased with real money. If your child likes to play video games, then chances are they have encountered a feature called “Loot Boxes”.

Gaming loot boxes harm children, says new report Our research demonstrates the dangers of in-game purchasing, especially when game developers actively use techniques drawn from gambling to encourage children and young people to buy in-game items.

$15 billion a year Loot boxes generate $15 billion a year revenue for gaming companies. But 90 percent of that money comes from a small group of particularly in-game-spending-obsessed customers, known in industry parlance as “whales,” who make up just a small percentage of players.

entrepreneur Dom Hofmann The Loot project was launched on August 27th, 2021, by internet entrepreneur Dom Hofmann, best known as a co-founder of the now-defunct short-form video platform Vine, as well as the creator of other social networks such as Peach and Byte.

Founded in 2012, Loot Crate™, Inc. is the worldwide leader in fan subscription boxes. Loot Crate partners with industry leaders in entertainment, gaming, sports, and pop culture to deliver monthly themed crates, produce interactive experiences and digital content, and film original video productions.

The word loot comes from the Hindi word “Lut,” meaning the spoils of war. The Hindi word Lut's origins can be further traced back to the Sanskrit word lotram or loptram, meaning plunder. Modern etymologists have traced the source of the word - and its inclusion into English - through a series of books and manuscripts.

The loot box mechanism allows players to obtain a set of unknown, virtual items for use in a game. Examples of loot boxes include a booster pack in a collectible card game, a weap- ons crate in a first-person shooter game or a llama-shaped piñata containing new avatar outfits in a Battle Royale game.

According to a study conducted by the Royal Society, “loot boxes either cause problem gambling among older adolescents, allow game companies to profit from adolescents with gambling problems for massive monetary rewards, or both of the above.” According to the Mayo Clinic, gambling during childhood or the teenage years ...