Zelf, the neo-bank that revolutionizes the purchase of NFTs

Zelf aims to become the neo-bank of the metaverse. But unlike the N26 and Revolut, the term “neo” is justified. For it would not just be a matter of offering a dematerialized card or reduced agency fees. Neobanken Zelf would be new on several levels. Already new users who could create an account in seconds. Then a new market, the one for the meta-verse, which begins to absorb the world of video games. Analysis with the words of Elliot Goykhman, its founder.

From the explosion of NFTs to the Zelf revolution

The NFT market has exploded in the last few years. The year 2021 was the year of the discovery of non-fungible tokens by the general public. The market recorded a growth of 21.350%. The year 2022 has also started with great fanfare as the trading volume of NFTs already represented $ 37 billion per year. May 1, 2022 according to Chainalysis, which specializes in blockchain analysis.

A success that is recognized far beyond the specialized spheres of cryptocurrency enthusiasts. Historic auction houses like Christie’s and Sotheby’s are on board. Those accustomed to selling paintings by Dutch masters quickly adapted to enter this new market and went so far as to accept cryptocurrencies for the most resounding sale in modern history. This is the work “Everydays: the First 5000 Days”, by the digital artist Beepl, sold for 42,329 ethers, or $ 69.3 million at the time of the events. Make him the highest rated living 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 artistic markets. Other universes use them, 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, gaming expert.

This is where Zelf, a neo-bank with Web3 sauce, aims to position itself. Its founder, Elliot Goykhman, is based on a simple observation: “Steam (a platform for distributing video games, ed. note) allows users to redeem their items in the game for Steam Bucks, but you can not send them to an external account, you can not buy a McDonald’s with“. Other things That said, game objects have a value, and begin to be exchanged.

But this economy has no access point to the real economy. At least not officially. This is called the gray market. According to a GDP Paribas report, this market is estimated at more than $ 20 billion.

A blessing for Zelf, especially since it is akin to a black market with no faith or law at the moment. Without a control body, users are at the mercy of all kinds of scams. However, this gray area has another meaning: there is no competition for Elliot Goykhman. “Occasionally (in a market), there is no competitor but another way of doing the work. The gray market for gaming is thus our “competitor”, but it is uncertain and full of scammers. We want to become the No. 1 solution to bring Play to earn for traditional games.The solution lies in this anglicism, which is not known to the general public: the Play to earnabbreviated to P2E.

that Play to earn is a game mode born in the minds of cryptopunkers who built the crypto and NFT universes. It is a game where the objects would not be attached to a platform but would be NFTs. They wanted the properties of all NFTs: value, exchange, buy and sell. A game Play to earn is therefore a game where you get not only levels and fictitious rewards, but objects with a real value determined in markets similar to the stock exchanges. That is, dictated by the law of supply and demand. This type of game has already been around for several months, and some cases of teens who have won more than their parents have been noticed in different parts of the world.

Myself, metaversets neobank

This is where Zelf’s positioning becomes interesting. Being the metaverse bank for NFTs from video games would not only capture the $ 20 billion that will pass through this space in 2024, their goal goes far beyond that. It is about bringing security and trust to this market for the users. Elliot Goykhman’s vision is to create the bank of the meta-verse, a market of $ 800 billion by 2024.

Unlike the N26, this neo-bank would not just be an optimized version of a normal bank. “We are working on some really exciting features like a metavers bank, just imagine: getting a quick loan, backed by your loot (items won in the game, editor’s note), at more favorable prices than traditional bankers. Or expand the purchasing power of players in games by introducing Buy-now-pay-later in crypto and traditional games. But unlike a traditional bank, we can actually analyze your in-game performance through your Steam profile and establish a credit score based on your skills.»

It would therefore be a complete banking offer in terms of services. But also in terms of infrastructure, as this is where Zelf’s latest idea lies, which takes this company from merely innovative to totally revolutionary.

Use the power of instant messaging

Until then, the services offered by Zelf are akin to a mix of Lydia, PayPal or even bank transfer. The only difference is the type of products one can buy, which would be video game items and NFTs. By giving its offering a dematerialized debit card available in 30 seconds, Zelf is already starting to widen the gap.

Integration in 30 seconds
Integration in 30 seconds

But what really makes the magic of this neo-bank 3.0 is its use of the most widely used means of communication in the world, instant messaging applications. These are everywhere: In 2021, 5.3 billion people owned a mobile phone. Among them, more than 3 billion use such applications. WhatsApp, Telegram, Facebook Messenger. This is where Zelf has implemented to offer an NFT payment, transfer and purchase system. Far from specialized sites, often too complex for beginners, which represents a major obstacle to the adoption of these new technologies and the growth of this market.

Elliot Goykhman does not want to stop there. However, if messaging applications are not used by 100% of mobile phone users, we may think that everyone is using the phone to communicate. And that’s what Zelf is aiming for:The ultimate goal is a fully channel-agnostic banking experience, a truly integrated banking, from the most primitive SMS interfaces to messaging bots and fully AI-driven voice interaction. »

Zelf would therefore be the first company in the world to use the power of SMS for financial exchanges. She also wanted to be the first bank in the world to allow money to be borrowed thanks to her ability to play a video game. If the transition from classic games to format Play to earn will be a condition sine qua non for this success the reward would be great. Develop unique experiences for users, bring new players to studios that lack innovation, streamline money transfers and, above all, rule this new world.

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