The World of Warcraft Token no longer allows European players to redeem it for Blizzard Balance, instead only allowing it to be used for subscription purposes. Though World of Warcraft always had an abundance of gold sellers, Blizzard offered a legitimate way of exchanging gold for a World of Warcraft subscription with the launch of Patch 6.1.2. The option of exchanging a Token for Blizzard Balance was added in Patch 7.1.5, and the World of Warcraft Token came to Wrath of the Lich King Classic on May 23, 2023.
However, it would seem that another change to the World of Warcraft Token is coming, perhaps inspired by a restriction that debuted in November 2023. Namely, in an effort to combat gold sellers, Blizzard disallowed players from redeeming a World of Warcraft Token for a one-month subscription, unless they have used real money to pay for a subscription at some point in their account history. Given that Season of Discovery will ban GDKP runs in its second phase, it would seem that Blizzard is trying to curb the uglier side of the World of Warcraft community, albeit its methods haven't always been received well by the players.
The change to the World of Warcraft Token was reported by several players on Reddit and websites such as Wowhead confirmed that the issue affected only European players. Namely, whereas American and Oceanian accounts can choose to either redeem their gold-purchased Token for a World of Warcraft subscription or Blizzard Balance, European accounts can only redeem game time instead. Wrath of the Lich King Classic has a similar restriction in place, though there may be an alternative reason why this affects solely Europe as a region.
Blizzard recently began the process of offering local currency support for its European players instead of confining their account balance to the euro or pound sterling. It's quite possible that exchanging the World of Warcraft Token for Blizzard Balance was only temporarily disabled, and should return with currency
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