According to Cointelegraph, the European Consumer Organization (BEUC) and its 22 member organizations complained to the European Commission on September 12, demanding stricter supervision of gaming companiesâ use of in-game digital currencies.
The report points out that in-game purchases have grown significantly, especially in free-to-play games and childrenâs games, and this practice brings significant revenue to game companies. Consumer groups are concerned that these currencies serve as both digital content and means of payment, leading to legal uncertainty.
Consumer groups argue that consumers are vulnerable to deception when buying premium in-game currencies and that consumer rights should apply to these purchases. Research shows some consumers find these currencies confusing and misleading.
The report points out that games often only display virtual currency prices without clearly converting them to real money, which may violate EU consumer protection laws. BEUC also said that in-game currencies can distort consumers' economic behavior and reduce the pain of payment.
The game companies mentioned in the report include Activision Blizzard, Electronic Arts, Epic Games, Mojang Studios, Roblox Corporation, Supercell and Ubisoft. The report said that Epic Games' "Fortnite" could earn up to $2 million a day through in-game purchases, and the average total monthly spending of children on in-game purchases would increase from $36 in 2020 to $43 in 2023.
The groups called on regulators to step up enforcement and provide clearer guidelines to address these issues in the gaming industry.
