What on earth are loot boxes?

Heard FM 7 is going to have them. The only experience I’ve had with loot boxes is with cartoon type F1 race stars. Surely it’s not going to be like, drive through the box get a car or something like that.

Use your credits to purchase loot boxes that will contain mods, Driver gear and cars. U purchase them from the main menu not in race

Is that in-game credits, or micro-transactions?

Confirmed as in game credits at launch. I can’t see them charging real money for them at a later date as you would effectively be gambling your money as you would have no guarantee of what you were buying.

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That is a good point.
Thank you for the response.