Valorant may be quite similar to Overwatch, but it is going a different route with its business model. It is, of course, free-to-play and run by microtransactions, but at least loot boxes have been done away with.

The cosmetic sprays and weapon skins that have been identified so far can be purchased directly from the in-game store or through Battle Pass.

Anna Donlon, executive producer of Valorant, also told Polygon that weapon skins are upgradeable and the game boasts "several different progression systems." For now, however, the game is shrouded in mystery.

While weapons can be transformed, Valorant will not be launching with additional character skins; Riot is concerned that the skins will make the characters harder to recognize, giving players a potential advantage due to some cosmetics.

"I think [character skins] have to be something that doesn't affect gameplay at all," Donlon said. 'It would be narrow. I think there are ways to do that. And those are things we're interested in exploring.

The lack of loot boxes is no big surprise. Loot boxes are declining in popularity, with only 8% of developers in a recent GDC survey saying they are building games with loot box mechanics. Rocket League recently changed its entire economy to eliminate loot.

Valorant is slated for release this summer.