Riot Points, a virtual currency used in League of Legends, will see an increase in price of 20% in the UK due to the Brexit vote, Riot states.
In a statement released on their forums, Riot Benshirro from the publishing office in Dublin announced that “we will be raising the price of RP by 20% on 25th July 2017 at 23:59 BST. This is a one-time change to restore balance in RP pricing around the world.”
They state that the reason for the price change is caused by the change in value of the pound compared to other global currencies due to the aftermath of the Brexit referendum. The statement reads: “Last June, the UK voted to leave the European Union, triggering a drop in the value of the pound relative to other global currencies, particularly the US dollar. This change meant that while UK players were spending the same number of pounds on RP as before, players elsewhere in the world were paying a lot more in comparison.”
Riot have also included a comparison of old vs new prices of Riot Points:
|£5||975 RP||790 RP|
|£10||2075 RP||1650 RP|
|£20||4200 RP||3350 RP|
|£35||7450 RP||5950 RP|
|£50||10700 RP||8600 RP|
Riot have also included an FAQ to cover questions that League of Legends players may have.
“Why are you adjusting RP prices in the UK?
The value of pound sterling fell dramatically following the EU referendum last June. We constantly review RP pricing globally so every player is spending roughly the same amount of money to get the same amount of RP. This change threw that out of whack, so we decided to make an adjustment.
Why do it now? Why not last year?
The value of currencies goes up and down, so we wanted to leave it for a while to make sure the change was sticking. At this point it’s been more than a year and recent fluctuations have been fairly minimal, so we think the time is right to make a change.
You talked about the comparison between the UK and the US, but what about Europe and other regions? Is anyone else affected?
We monitor currency movements across all regions in which Riot operates to try to keep global RP prices in harmony. There’s been modest inflation in some EU markets and we continue to monitor all currencies, but overall the gap between European currencies and the US dollar is minor.
When will the RP price change go into effect?
25th July 2017 at 23:59 BST.
What about IP or existing content?
You can still purchase content for the same amount of IP and RP as before.
What happens if the pound recovers tomorrow? Or what happens if the dollar suffers a massive fall? Will you change prices back?
We can’t predict what will happen going forward, but we will continue to gather data on currency changes globally. We would consider further adjustments if we felt there was a serious long-term imbalance and the markets themselves weren’t going to correct it.”