Stablecoin issuer Circle has announced a partnership with Overdare, a joint venture between South Korean gaming and metaverse giants Krafton and Naver Z Corporation.
The partnership will allow Overdare to use Circle’s programmable wallets, allowing users to receive USDC payouts.
Circle-Overdare Partnership
The partnership is not restricted to just wallet functionality. Overdare also aims to transform intellectual property and income management for creators through Circle’s Programmable Wallets. The integration will facilitate intellectual property trading and facilitate direct payouts in USDC. This would allow creators to explore new revenue streams.
“OVERDARE, Inc., a joint venture backed by gaming/metaverse industry titans KRAFTON, Inc. and NAVER Z Corporation, today announced a strategic partnership with Circle Internet Financial, a global financial technology firm and the issuer of USDC, the world’s largest regulated US dollar-backed stablecoin.”
Circle also announced on their official X handle that the partnership with Overdare would revolutionize the mobile gaming world.
“We are excited to announce our strategic partnership with OVERDARE to revolutionize the mobile gaming world. By integrating #USDC payouts and our Programmable Wallets for OVERDARE’s game content creators, we are making it easier for game content creators to collaborate and build new user experiences and seamlessly receive digital payouts using secure #Web3 wallets.”
Roblox-Style Metaverse Under Development
Overdare aims to provide users with artificial intelligence-generative tools and is scheduled to launch in the second half of 2024. The company will be integrating the Cosmos-based Layer-1 blockchain, Settlus, to establish its revenue distribution model for creators. Speaking about the partnership, Circle CEO Jeremy Allaire, stated,
“Circle has entered into a strategic partnership with OVERDARE, a JV of one the largest game studios in the world (Korea’s Krafton), who are launching a large-scale Roblox-style metaverse building on @circle wallet infrastructure and $USDC. Mainstream scale Web3 experiences! We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all.”
Fusion Of Unreal Engine 5 And NFT Monetization
Overdare has taken inspiration from gaming platform Roblox and uses Unreal Engine 5 to deliver AI-powered creation tools enabling players to don the mantle of game designers within the metaverse and create their own unique experiences. Overdare also uses a “Create-to-Earn” model that empowers players to monetize their creativity. Players can craft digital assets and transform them into NFTs, allowing them to trade on the platform’s virtual marketplace.
Overdare uses its Cosmos-based blockchain, Settlus, to handle in-game transactions. The integration with Settlus also helps streamline the licensing process for interactive content and allows creators to unlock monetization opportunities. Overdare is also planning to create an Overdare Studio to empower users. This dedicated suite will help users personalize and create immersive gaming experiences.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
