Web3 is progressing, metamorphosing like a caterpillar becoming a butterfly. However, the complete revolution is not yet here, and the current transformations are raising controversy. It is in this context that seven video game giants are accused of manipulating consumers through the use of virtual currencies. Consumer protection associations have filed a complaint with the European Commission, demanding measures against these deceptive practices that could impact the crypto industry.
The opacity of virtual currencies: a trap for players
Activision Blizzard, Ubisoft – which offers Rabbids NFTs on The SandBox, and other big names in video games are accused of taking advantage of a well-established trick : the introduction of virtual currencies to encourage players to spend without being fully aware of it. Imagine: you want to buy a stylish weapon or an elegant costume for your avatar, but, surprise, iYou must first convert your euros into coins, gems or other virtual currencies..
The problem? These conversions make the real cost of your purchases is difficult to grasp. Worse still, there is no way to convert these famous gems or coins into euros once the purchase is made.
As a result, players end up buying more virtual currency than necessary, without understanding how much real money they have spent.
According to UFC-Que Choisir, This obscure system deliberately distorts consumers' freedom of choice. This is where publishers, while hiding the real price of items, push players to open their wallets recklessly.
The weight of cryptos in the world of video games
The case is part of a broader context where Cryptocurrencies and virtual currencies invade gaming. With the rise of Play-to-Earn, a new model where players can earn crypto while playing, the line between leisure and investment becomes blurred.
But be careful, not all platforms play fair. While some, like SpaceCatch, honestly rewards players who catch aliens While earning crypto, others use questionable practices.
Did you know that 42% of PC games use virtual currenciesand that on mobile, this figure reaches 81%? Consumers, especially the youngest, are easy targets. Each month, they spend on average 40 euros in video games without always understanding the real value of the objects they acquire.
To add to this confusion, The items offered are never displayed in euros.
- In 2020, in-game purchases generated €46 billion;
- 84% of young people aged 11 to 14 play video games in Europe;
- 3.6 million French players have already converted real money into virtual currency.
With such figures, publishers have not finished monetizing players' craze for virtual weapons or flashy skins.
More transparent and legal alternatives: what to do?
Faced with these practices, consumer associations, supported by organisations such as UFC-Que Choisir and CLCV, are calling for reforms to regulate these virtual currenciesThey call for more transparency: it is urgent to display the prices of virtual objects in real currency.
” Players shouldn't need a calculator every time they want to make an informed decision. “, protests Agustin Reyna, from the European Consumer Union Bureau.
What if Web3 and blockchain offered a fairer solution? Cryptos, although criticized in some cases, can also allow players to better control their spending. Some projects show that Play-to-Earn game models where you actually earn crypto are possible.
Rather than hiding the true cost of purchases, these alternatives offer players earn coins by actively participating in the gamewhile making transactions transparent.
Players can also turning to video game-related altcoinsoffering new perspectives and fairer rewards. Here are some popular altcoins in this universe:
- Enjin Coin (ENJ);
- Decentraland (MANA);
- The Sandbox (SAND).
These currencies allow developers to create more open and user-centric ecosystems, far from the opaque practices of traditional gaming giants.
Play-to-Earn is based on a simple principle: giving players a portion of their winnings. SpaceCatch has understood this well, by offering them the opportunity to earn cryptos by catching aliens.
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