Nintendo, Microsoft, and Sony will make game devs disclose loot box odds

The three major console makers — Nintendo, Microsoft, and Sony — have come together to pledge new regulations requiring video games makers to disclose loot box odds.

The announcement came today during a U.S Federal Trade Commission workshop on loot boxes, a monetization system in which players buy packages of random in-game items (think of it like buying a pack of trading cards — you don’t know what you’re going to get). The new requirement from the big three will impact new games and those that add loot boxes via updates.