Introducing Razer zVault, a New Form of Online Currency
Having dominated the gaming peripheral market, the three-headed serpent now intends to take over the gaming economy with Razer zVault.
The new form of virtual currency features its own secure wallet, through which users can conduct digital payments. The company has also thrown in a rewards system where loyal and regular customers can gain additional benefits.
Razer zVault is sorted into two kinds of virtual coins. First comes Razer zGold which has a conversion rate of 100 zGold units to $1. These can be purchased from the official website and managed from within Razer zVault for all transactions.
Next comes Razer zSilver, a loyalty currency given to users in recognition of their time and engagement online. These can only be redeemed on Razer products, featuring discounts from 20 to 100 percent.
“The introduction of zVault is all about giving value to gamers with secure payment convenience and a great rewards program,” said Razer CEO Min-Liang Tan. “This is much more than a club or a credit card perks program or microtransaction solution. Our ultimate vision is a complete gamer economy expanding from the zVault ecosystem. It’s social, interactive, and truly useful, opening doors to a safer way of doing business and an expansive rewards market for our fans.”
Currently, Razer zVault currency can be used to purchase games from third-party distributors such as GamersGate and Indiegala. In addition, Hi-Rez Studios and Smilegate have accepted Razer zVault for in-game microtransactions for Smite, Paladins: Champions of the Realm, CrossFire, and Lost Saga. More names are likely to be added in the future that begin accepting the new form of currency.
Razer zVault was launched in January for a select few. Since then, nearly 800,000 accounts have been created. Though, it remains to be confirmed as to just how many of them are still regularly active.
Users who want to sign up or are in need of more information can visit the official website. Razer ID users who sign up will receive a starter gift pack of 2,000 zSilver and up to 30 percent additional bonus zGold after buying their own.
Razer zVault has been trending on social media platforms. Unfortunately, many were under the impression that it had something to do with a new Fallout game.