Loot Crate has laid off most of its employees and will no longer accept new assignments. He promises that he will send the boxes that have already been ordered but his future is very uncertain.
Anyone with a few interests within the so-called "nerd culture" (comics, anime and manga, video games, science fiction, fantasy...) will have heard of Loot Crate. It became popular years ago because it allowed users to subscribe to boxes of various merchandising that promised to be worth more than what the user paid for.
Loot Crate service ends
Word has come out that Loot Crate has already filed for bankruptcy and has laid off dozens of employees. It has the minimum staff left to operate and the delivery service has been outsourced.
What has happened for a giant like Loot Crate to fall so much now that "nerd culture" is more widespread than ever with series like Game of Thrones breaking audience records? A few months ago, Youtuber Scott the Woz made a video in which he explained the problems that have been attributed to the service for years: the generic box has such extensive and varied tastes that it was difficult to satisfy subscribers and many objects ended up being sold for a few dollars on eBay. It also faced competition from more specific and thematic boxes made by the competition, which makes those interested in Loot Crate bet on other providers to periodically receive merchandising and "nerdy" objects.
The company has already stated that they will ship the boxes that customers have ordered and are looking for buyers. But ... Who would want to buy a company that was supplied by surplus niche merchandising (not official, but it seems that they always gave things that stores could not sell at conventions) and whose rivals have already surpassed them in interest? In addition, many subscribers say they have not received boxes since May despite having continued to charge their bank accounts.
Source: io9
