In video games, a loot box, also called a loot crate or prize crate, is a consumable virtual item that can be redeemed for a randomized selection of further virtual items, ranging from cosmetic character customization to game-changing equipment such as weapons or armor. It is a business model in which players either buy loot boxes directly or receive them during play and later buy keys to open them, and the mechanic is considered similar to the gacha systems popular in Japan. Loot boxes grew out of loot systems in massively multiplayer online role-playing games and the monetization of free-to-play mobile games, first appearing between 2004 and 2007 before spreading widely across free-to-play titles.
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Loot boxes, purchasable virtual items with randomized contents, are a monetization mechanic used predominantly within free-to-play video games.
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