Microtransactions and the Damage they Do to the Video Game Industry
Back in the early days of the video game industry, few thought that the practice of juicing the customer base for profit beyond their purchase of a game seemed like something that would not occur. That was until technology powering the entertainment medium had become more sophisticated and reliant on global interconnectivity. Leading to a feature in certain games that is especially pervasive in Triple A titles known as microtransactions.
Microtransactions are an in-game model where players can purchase in-game goods such as skins, in-game currency, additional playing time, a chance to win cosmetic items in games of chance such as loot boxes, playable characters, etc. Though microtransactions have proven to be a profitable practice raking in billions a year, there is much controversy surrounding the issue with many calling it a form of exploitative greed targeting an underaged and naïve audience. Though some may find the intangible items available worth the purchase, there are some concerns that younger audiences could be frivolously spending large amounts of money on items that have little to no real world monetary value.
The abuse of microtransactions by young player shave already driven some families into financial difficulties with children spending thousands on in-game content without the knowledge of their parents and/or guardians. Though this is a widely reported issue and several regulators have taken action to curb such practices, microtransactions are still a prevalent issue within the gaming industry today.
The solution to such a thing is a difficult issue since to ban microtransactions outright may be seen as a violation of free market principles though developers and publisher shoulder responsibility for providing an entertaining and quality product for a fair price.
It can also be argue that it is the responsibility of the guardians of the child and of themselves to be wary of marketing tactics by gaming industries such as microtransactions. Like many other things adults teach children to be wary of, perhaps gaming profiteering practices should be included now that it is already clear how damaging unmitigated in-game markets and unchecked spending habits can be for many households across the world.
Though certain items can be valuable within a game, it should be understood and taught that their value is very different to things of value beyond the game and the industry promoting it.
