Update 11/08: Nintendo has now provided Eurogamer with the following statement:

At Nintendo, ensuring that our customers can make informed choices when they play our games is very important. As part of our ongoing efforts in this area, Nintendo will require disclosure of drop rates in Nintendo Switch games that offer randomised virtual items for purchase, such as loot boxes. This requirement will apply to all new games and includes updates to current games that add loot boxes through in-game purchases.

We also offer tools like our Nintendo Switch Parental Controls mobile app, which empowers parents to choose what works for their family, including managing in-game purchases and setting playtime limits.

Original story 07/08: America's Entertainment Software Association (ESA) has revealed the three major players within the video game industry will be implementing new policies which require the disclosure of loot box odds on all of their platforms.

Microsoft, Nintendo, and Sony have indicated to ESA a commitment to new platform policies with respect to the use of paid loot boxes in games that are developed for their platform.

Specifically, this would apply to new games and game updates that add loot box features. And it would require the disclosure of the relative rarity or probabilities of obtaining randomized virtual items in games that are available on their platforms.

The ESA also revealed many other "leading publishers" would be involved:

As well, many of the leading video game publishers of the Entertainment Software Association have decided that they are going to implement a similar approach at the publisher level to provide consumers this information and give them enhanced information to make purchase decisions.

The additional publishers include companies such as Activision, Electronic Arts, Blizzard, Bandai Namco Entertainment, Bethesda, Ubisoft, Take-Two Interactive and Warner Bros. Interactive Entertainment.

Platform holders are aiming to implement the above-mentioned policies by 2020 and the leading publishers mentioned have pledged to release loot box disclosure odds before the end of next year.

What are your own thoughts about this? Leave a comment below.