Loot box mechanics: The state of the Turkish gaming regulatory framework
The gaming industry's annual global revenue is expected to surpass the US$200bn mark for the first time ever in 2022. Despite its size and rapid growth, commercialization of gaming is a relatively new phenomenon, which can be traced back to arcade and console games, popularized after the 1970s.
The commercial potential of the gaming industry was not truly unlocked until the advent and widespread use of mobile devices. Add to that the popularization of credit card use, enabled by decreasing processing fees, which resulted in a business model built on "microtransactions" – a model that has reshaped the gaming industry in the 2010s, a decade some have described as the "gaming boom."
Turkey was at the forefront of the gaming boom, both as a producer and consumer. In recent years, hundreds of new gaming start-ups have been founded, some having reached multi-billion dollar valuations. The rapid growth of the Turkish gaming market has witnessed simultaneous efforts to regulate the industry. As a result, questions arise as to whether and to what extent the industry, including and especially gaming mechanics such as loot boxes, is subject to Turkish laws and regulations.