Earlier quoted context omitted.
> And I have not ever seen an emoji pack for a chat service as an appealing sales item that's going to fund a startup. You underestimate gamers as a market. Valve's built a thriving business on virtual hats. Twitch sells access to premium emotes and a wider range of username colors as a subscription upgrade. "Cosmetic purchases" are huge. Discord could also do what Twitch does and let streamers offer recurring donati…
I'm not that sure about Valve. What they actually have for hats now is a system that withdrawals short of casino — you can't buy the thing you want, instead, you buy a "crate" that may (randomly) contain it, or other item. My thinking is that hats aren't that profitable without these kinds of tricks, and Steam effectively sponsored everything that happened at Valve before they implemented "gambling".
And if you refer to crates of random items as gambling, they've also filled in that gap with the Steam Marketplace where you can buy individual items for market-dictated prices from other Steam users, where Valve takes a portion of the money the items are sold for.
This business is extremely profitable. Looking at their game Dota 2 for example where they recently hosted the world's largest e-sports tournament, where the pricepool were completely funded by the players of Dota 2 through in-game virtual items. This pricepool were over $20,000,000 USD, funded through in-game purchases where 25% of the items price would go to the pricepool, and the rest would go to Valve. That is $60,000,000 USD that Valve profited in the span of two months, for one of their games, in one of their tournaments. Valve hosts 4 tournaments per year for this game.
Looking at the pricepool of their previous tournaments ( http://www.esportsearnings.com/tournaments ), we can see that this amount just keeps increasing year after year.