Today, ZELF, the leading Gen Z neobank embedded in popular social messengers, is releasing a banking integration for Discord, the leading chat server for gamers. The new functionality enables a world-first: a way for gamers to do their banking within Discord, their "always-on" messenger and the possibility to trade virtual assets (skins, in-game cosmetics, weapons etc.) in their favorite games, through real money transactions. From this month, users will be able to order their ZELF gaming card straight from Discord.
As Play-to-Earn gains momentum, traditional game manufacturers are coming under increased pressure from players who need a way to capitalize on their skills and in-game investments. At the same time, Play-to-Earn NFT game publishers are facing demands from regulators to implement controlled, fiscally regulated solutions to combat money laundering, assure taxation and anti-terrorism financing compliance.
ZELF has already begun integrating with several leading game manufacturers to help them curb illegal trade of in-game assets. According to BNP Paribas, the size of this market is currently $19bn. With ZELF, game operators will be able to share in the revenue of out-of-the-game exchanges, sales and even loans, while providing more transparency and fairness to the market and much needed transaction guarantees for the buyers and sellers. Until now, game manufacturers could only tackle this by banning it in their terms and conditions, suing marketplaces and shutting down players linked to such transactions.
Elliot Goykhman CEO & Founder of ZELF stated: "We are really excited that our technology will allow players worldwide to capitalize on their gaming skills, while providing a safe environment for buyers and sellers to trade virtual assets outside of their favorite games. ZELF in Discord will bring much needed security and transparency for the P2P transactions of skins, weaponry, characters, in-game cosmetics and much more, enabling the future of metaverse banking."
"The economic models of NFT-based play-to-earn games have garnered much speculation, which is why we're excited to extend play-to-earn functionality to popular non-crypto games. In providing these kinds of controlled financial services to the gaming industry, we are helping to ensure the sustainability of the gaming economies. We believe our tech is coming at the right time to position ZELF as the bank for the gaming generations and the first neobank of the metaverse," he concluded.
This latest move from the neobank represents a horizontal expansion of its existing messenger base, but also a vertical expansion into the gaming industry, where it aims to achieve first mover advantage in banking for games and virtual worlds. Launched in 2020, ZELF has already gained more than one million registered users and plans to grow to five million by the end of 2022.