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Every game developer company should be like this
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Yeah, shitty companies like Valve with their lootbox nonsense and other gambling mechanics are really bringing the industry down.
They're entirely cosmetic in Valve games as far as I'm aware
The argument of cosmetic only microtransactions is also a bit of a weak one because it's the sort of content that would usually just be in the base game, unlockable via gameplay or tied to cheat codes. At least this used to be the case.
Cosmetic only is still better than other types but it's still a case of the lesser of two evils.
I like the way Grinding Gear does it with POE, a FTP game supported by cosmetic-only micro transactions. The stash tabs are the closest thing to "pay to win".