Nintendo, Microsoft, & Sony seem to finally be taking some measures to protect consumers on their consoles against questionable loot box practices.
Down with Loot Boxes
This new initiative will require all publishers that intend to allow paid lootboxes in their games to disclose the rates at which items will drop in the games.
For example, this would mean that if a lootbox has only a 1% possibility of dropping a rare item, that figure must be available prominently for the public to see. For some, this idea would not be that new to you, as this is a feature present in many mobile games with lootbox-like mechanics such as Pokemon Masters and Fire Emblem Heroes.
ESA notes
According to a statement published by the Entertainment Software Association (ESA), Nintendo, Microsoft & Sony have all jointly agreed to the implement this policy by 2020. It will not only require all games that currently use paid lootboxes to disclose rates, but also to games which add paid lootboxes to their games post-launch.
So far, sources state that many big name publishers have also come on board with this regulation. This includes Bungie, Bethesda, and (perhaps begrudgingly) Electronic Arts.
End of bad practices?
That said, only time will tell how helpful this new initiative will be for protecting consumers. We will continue to monitor the story and bring new details as they come.
