Zelf, the new bank that revolutionized the purchase of NFTs

Zelf aims to become the new bank of metaverses. But unlike the N26 and Revolut, the term “neo” is justified. Because it will not just be a matter of presenting a dematerialized card or a reduced agency fee. The new Zelf Bank will be new on several levels. Indeed, new users, who can create an account within seconds. Then, a new market, the metaverse market, which began to absorb the world of video games. Analysis in the words of its founder, Elliot Guichman.

From the explosion of NFTs to the revolution of Zelf

The NFT market has exploded in the past couple of years. 2021 was the year of the discovery of non-fungible tokens by the general public. The market recorded a growth of 21,350%. 2022 also started with great fanfare, as the trading volume of NFTs already represented $37 billion as of May 1, 2022 according to Chainalysis, a blockchain analytics specialist.

Recognized success beyond the niche of crypto enthusiasts. Historic auction houses such as Christie’s and Sotheby’s are on board. Those who used to sell paintings by Dutch masters quickly adapted to enter this new market, going so far as to accept cryptocurrencies for the most resonant sale in recent history. This is the work “Everydays: the First 5000 Days” by digital artist Beepl, which sold for 42,329 Ethers, or $69.3 million at the time of the events. This made him the most famous artist in the world after Jeff Koons.

Zelf wants to unleash the power of NFTs in the video game industry

However, NFTs are not limited to technical markets. Other universes use it, and this is especially the case with video games. A market estimated at $222.6 billion in 2024, according to the report Global gaming market report From NewZoo, a gaming expert.

This is where Zelf, a new bank with Web3 sauce, aims to position itself. Its founder, Eliot Guichmann, starts from a simple observation: “steam (Video game distribution platform, editor’s note) It allows users to redeem in-game items for Steam Bucks, but you can’t send them to an external account, and you can’t buy McDonald’s yourself with“. else He said, game things have value, and he begins to exchange.

But this economy has no access point with the real economy. At least it’s not official. This is called the gray market. According to a BNP Paribas report, this market is estimated at more than $20 billion.

A blessing for Zelf, especially since it’s like a black market with no faith or law at the moment. Without a watchdog, users are at the mercy of scams of all kinds. However, this gray area has another meaning: there is no competition for Elliot Goykhman. “from time to time (In the market) , There is no competitor, but there is another way to do the job. Thus, the gaming commerce gray market is our “competitor”, but it is unsafe and full of scammers. We want to become the first solution to bring play to earn for traditional games.The solution lies in this Anglicanism, unknown to the general public: the play to earnabbreviated as P2E.

The play to earn It is a game mode born in the minds of the cryptopunks who built the crypto and NFT universe. It is a game where the objects are not attached to a platform, but rather the NFTs. They will have all the characteristics of NFTs: value, exchange, buy and sell. Game play to earn So it is a game in which you not only gain imaginary levels and rewards, but things of real value that are determined in stock market-like markets. That is, what is dictated by the law of supply and demand. This type of game has been around for several months already and some cases of teens winning more than their parents have been observed in different parts of the world.

Zelf, the new bank of metaverses

This is where Zelf’s positioning gets interesting. Being the metaverse bank of video game NFTs will not only earn the $20 billion that will pass through this space in 2024, but their goal goes well beyond that. It is about bringing security and confidence to this market for users. Elliot Goykhman’s vision is to create the metaverse bank, an $800 billion market by 2024.

Unlike the N26, this new bank will not be just an improved version of a regular bank. “We are working on some really exciting features as a metaverse bank, just imagine: getting a payday loan, powered by Loot (items won in the game, editor’s note)At rates more advantageous than those of conventional banks. Or expand the purchasing power of players in games by offering Buy Now Pay Later In encrypted and traditional games. But unlike a traditional bank, we can actually analyze your performance in games through your Steam profile and generate a credit score based on your skills.»

So it will be a complete banking offer in terms of services. But also in terms of infrastructure, since that’s where Zelf’s latest idea lies, taking this company from just an innovative company to a completely revolutionary one.

Use the power of instant messaging

Until then, the services offered by Zelf are like a mix of Lydia, PayPal, or even bank transfer. The only difference is the type of products one can buy, which will be video game items and NFTs. By supplying her offer with a dematerialized payment card available in 30 seconds, Zelf has already begun to widen the gap.

Integration in 30 seconds
Integration in 30 seconds

But what makes the charm of this new Bank 3.0 is its use of the world’s most popular means of communication, instant messaging applications. These are everywhere: in 2021, 5.3 billion people owned a mobile phone. Among them, it uses more than 3 billion of these applications. WhatsApp, Telegram, Facebook Messenger. This is where Zelf has popped up to offer a Pay, Transfer and Buy NFT system. Far from niche sites, they are often too complicated for beginners, which is a major obstacle to the adoption of these new technologies and the growth of this market.

Elliot Guichman doesn’t want to stop there. If messaging apps are not used by 100% of mobile users, then we can nevertheless believe that everyone uses the phone to communicate. This is what Zelf aims for:The ultimate goal is a fully channelless banking experience, a truly integrated bank, from the most rudimentary SMS interfaces to messaging and voice interaction bots powered entirely by artificial intelligence. »

So Zelf will be the first company in the world to use the power of SMS in financial exchanges. She will also be the first bank in the world to allow her to borrow money thanks to her skills in a video game. If the transition from classic games to format play to earn will be a condition indispensable condition For this success the reward will be great. Develop unique user experiences, bring new players to studios that lack innovation, simplify money transfers, and above all dominate this new world.

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