Razer launched a new virtual currency platform aimed at providing gamers with secure transactions for purchasing digital games and items, in addition to rewarding customers with bonus currency that can be redeemed to purchase a plethora of rewards and Razer product offers.
Razer’s zVault is a secure digital wallet similar to Bitcoin. The primary cryptocurrency is known as zGold, and it has a set conversion rate of 100 zGold per $1 USD. Users will earn zSilver from purchases made using zGold, but you can also accumulate daily allotments of zSilver by using Razer’s software, including Cortex and Arena.
The zGold currency can be used to buy digital games or in-game items, and it can be purchased in denominations of 3,000, 5,000, and 10,000 using PayPal, Openbucks, Paysafecard, or any major credit card. Several free-to-play games including SMITE, Paladins, CrossFire and Lost Saga currently accept zGold for in-game purchases, and online game stores such as IndieGala and GamersGate (opens in new tab) are collaborating with Razer to expand their payment offerings, allowing gamers to redeem zGold for Steam keys. Trion Worlds will also soon be integrating zGold as a payment plan for its digital game offerings. The secondary currency, zSilver, can be used to purchase Razer gear (keyboards, mice, mouse pads, headsets) or discounts on those products and more-expensive Razer offerings such as laptops.
Razer’s introduction of zVault signifies a monetization play from the popular peripheral and mobile device company, which has a registered user base of over 22 million people. Capitalizing on that community has now become a priority for Razer, and the rewards program (zSilver) provides an incentive to gamers looking to get something back from their online purchases. However, Razer appears to have a much grander vision for zVault
“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.”
Gamers with a Razer ID can access the zVault platform at the company’s website, and for a limited time, Razer is offering a starter gift pack bonus of 2,000 zSilver and up to 30% bonus zGold after users top off their wallet.