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ZELF launches banking functionality in popular gaming messenger Discord

TL;DR Breakdown

  • ZELF launches in-game banking platform for gamers via Discord.
  • CEO says platform is to provide security, transparency for P2P transactions of skins.

ZELF, a leading Gen Z neobank embedded in popular social messengers, is releasing a banking integration for Discord, a 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.

Per a release on Thursday, users will be able to order their ZELF gaming card straight from Discord this December.

With play-to-earn gaining momentum, traditional game manufacturers are coming under increased pressure from players who need a way to capitalize on their skills and in-game investments.

Similarly, 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.

ZELF brings security, transparency to the P2P transactions of skins

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.

“In Discord we 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.”