Valve changes IEM Cologne Major stickers to token market

Valve replaces capsule unboxing with a token-based sticker market for the IEM Cologne Major, adds partial refunds for price drops, enables Souvenir crafting and revises team revenue splits.
Valve overhauled digital items for the IEM Cologne Major by replacing randomized sticker capsules with a token-based market. Fans now buy individual stickers directly with tokens, and sticker prices will rise or fall based on demand.
To limit losses from sudden price drops, Valve will refund tokens when a sticker’s price falls by more than 25 tokens within 24 hours of a purchase. Purchasers receive a refund equal to the total difference between the purchase price and the lower price.
Souvenir weapons have been reworked. Players can convert a weapon from their own inventory into a Souvenir tied to a specific player and match. The token cost to craft a Souvenir depends on the values of the chosen gold player and team stickers and on the rarity of the weapon used.
Sticker revenue distribution has been adjusted. Half of all sticker revenue will be shared with teams. From that 50%, tournament organizers keep 5% and the remaining 45% is allocated to teams based on their placing in the Valve Regional Standings (VRS). Under the announced breakdown, the top-ranked VRS team receives 2.85% of sticker revenue, while the two lowest-ranked teams each receive 0.72%. After the IEM Cologne Major ends, future sticker revenue will be distributed according to teams’ final Major placings instead of VRS ranking.
Valve released the Viewer Pass and the new sticker offerings ahead of the event and posted an FAQ that explains the sticker price mechanics, refund timing and how Souvenir crafting fees are calculated. The FAQ includes examples and a detailed revenue distribution table.
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