The Entertainment Software Rating Board has announced that it will be assigning labels to physical games with microtransactions.

Consumers will be warned about elements such as season passes, virtual currency and loot boxes by the new "In-Game Purchases" sticker. The label will also be present "wherever those games can be downloaded" in the near future.

ESRB's goal is to provide parents with "comprehensive tools" to make decisions on what games are appropriate for their children.

"Parents will know when a game contains offers for players to purchase additional content," ESRB president Patricia Vance said in a statement.

A new website, ParentalTools.org has also been launched alongside a nationwide campaign to make parents aware of the information available to them.

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