Hello, I'm James.

And I am Paul.

And we're both technology and data specialists at Field Fisher Silicon Valley.

Today, we're looking at the UK's recent guidance on loopboxes.

What does it have to say and what does it mean for your business?

So, earlier this year, the UK's government department for culture, media, and sport,

announced the latest set of guidance on the use of loot boxes in video games.

Choosing to Ford Go, the gambling regulation approach.

The UK has opted for an industry self-regulatory but what does that mean in practice and what are companies operating internationally

need to do to comply? So, Paul, thanks for joining us. Before we dive in, would you maybe

just be able to go over the obvious for those of us who aren't familiar with video games?

What is a loot box?

And why are they worth talking about?

Certainly, thanks, James.

So, loot boxes for anyone not overly familiar with the game industry are mystery boxes that contain a random selection of items in

association with the particular game you're playing.

They can be purchased with your money or credits built up within a game.

Depending on the generation in your form, you might want to think of them as the digital

version of those old getcha games, where you pet your coin in the machine, turn the handle and get

one of those little balls with a random toy net, or maybe a digital version of something like

baseball cards, Pokemon cards, or Magic the Gathering. If you are under 25, though, chances are

you have no need for explanation. As some of the stats

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