Garzon said the government will in a few weeks regulate gaming features that offer prizes with an economic value in a real or virtual market and that can be resold or exchanged, including using non-fungible tokens (NFTs) or cryptocurrencies. — Reuters
MADRID: Spain is set to become the first European country to have a law regulating the use of so-called loot boxes in videogames, aiming to avoid “thoughtless, compulsive or even pathological” consumer behaviour, the government said on June 1.
The loot boxes – digital packages of virtual items that can be purchased using real money – are an important source of developers’ revenue. They give players the chance to win desirable or often randomised game-changing equipment, and allow gaming companies a stream of high-margin income.
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