Razer has just taken a step toward forming a new set of payment systems across gaming by introducing the zVault system today. Designed to be a virtual currency for and a payment system for gamers to use online and through in-game transactions, the monetary system will use a conversion rate of $1 being equal to 100 zGold coins. The plan is to convert your cash into these units to be used in multiple places, with a secured wallet to prevent theft and ensure you receive what you pay for. You can also earn zSilver currency from purchases made using zGold, and through Razer software useage. The company made the announcement this morning through an official press release and video.
“The introduction of zVault is all about giving value to gamers with secure payment convenience and a great rewards program,” said Min-Liang Tan, CEO and co-founder of Razer. “This is much more than a club or credit card perks program or micro-transaction solution. Our ultimate vision is a complete gamer economy expanding from the zVault ecosystem. It’s social, interactive and truly useful, opening the doors to a safer way of doing business and an expansive rewards market for our fans.”
It’s an intriguing enterprise on the company’s behalf, and while some may be quick to make a Bitcoin parallel, the catch here is that it’s exclusive to Razer and only revolves around gaming, whereas Bitcoin is still slowly making its way around the world as a real-world currency. The other aspect that’s touched on but not fully explained is the zSilver coins, specifically how much they’re worth and how much they take off toward purchases through Razer. The company states that it currently has 22 million registered players with Razer ID’s, meaning they already have a large customer base that can jump in on it immediately without asking people to signup. The company is already offering 2K in zSilver for those users and “up to 30 percent additional Bonus zGold after users top up their wallet for a limited time only,” which should entice several to give it a shot and see what it’s all about.
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