Stablecoin Issuer Circle Partners with Overdare for USDC Payouts
In a significant move, stablecoin issuer Circle has joined forces with Overdare, a joint venture between South Korean gaming and metaverse giants Krafton and Naver Z Corporation. This partnership will enable Overdare to utilize Circle’s programmable wallets, allowing users to receive payouts in USDC, the world’s largest regulated US dollar-backed stablecoin.
The Circle-Overdare Partnership
The collaboration between Circle and Overdare goes beyond just wallet functionality. Overdare intends to revolutionize intellectual property and income management for creators by leveraging the power of Circle’s Programmable Wallets. This integration will facilitate intellectual property trading and enable direct payouts in USDC, opening up new revenue streams for creators.
“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 took to their official Twitter handle to share the news, stating that the partnership with Overdare will revolutionize the mobile gaming industry. By integrating USDC payouts and Programmable Wallets, game content creators will have an easier time collaborating, building new user experiences, and receiving secure digital payouts using Web3 wallets.
“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.”
Development of a Roblox-Style Metaverse
Overdare has ambitious plans to provide users with artificial intelligence-generative tools, and their platform is set to launch in the second half of 2024. To establish a revenue distribution model for creators, the company will integrate the Cosmos-based Layer-1 blockchain, Settlus. Circle CEO Jeremy Allaire expressed his belief that the partnership with Overdare will shape the future of digital entertainment and foster an innovative Web3 environment.
“Circle has entered into a strategic partnership with OVERDARE, a JV of one of 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
Inspired by the success of the gaming platform Roblox, Overdare leverages Unreal Engine 5 to provide AI-powered creation tools that allow players to become game designers within the metaverse. Overdare also adopts a “Create-to-Earn” model, empowering players to monetize their creativity. Players can create digital assets and transform them into NFTs, which can be traded on the platform’s virtual marketplace.
Overdare utilizes its Cosmos-based blockchain, Settlus, to handle in-game transactions. The integration with Settlus streamlines the licensing process for interactive content and unlocks monetization opportunities for creators. Moreover, Overdare plans to launch Overdare Studio, a dedicated suite that enables users to personalize and create immersive gaming experiences.
🔥 Hot Take: Circle-Overdare Partnership Paves the Way for Web3 Gaming Revolution 🔥
The collaboration between Circle and Overdare marks an important milestone in the gaming and metaverse industry. The partnership brings together the expertise of Circle, a global financial technology firm, and the gaming prowess of Krafton and Naver Z Corporation, creating a powerful synergy that has the potential to revolutionize the mobile gaming world.
With the integration of Circle’s Programmable Wallets and USDC payouts, game content creators on Overdare’s platform will enjoy a seamless experience, collaborating with ease and receiving secure digital payouts. This will not only enhance the revenue opportunities for creators, but also pave the way for the mainstream adoption of Web3 gaming experiences.
Furthermore, Overdare’s vision to build a Roblox-style metaverse and leverage Unreal Engine 5 demonstrates their commitment to providing users with cutting-edge tools and immersive gaming experiences. By enabling players to monetize their creativity through NFTs and offering a dedicated suite for personalized gaming experiences, Overdare is empowering the gaming community and fostering an innovative Web3 environment.
The Circle-Overdare partnership is a promising development that showcases the potential of blockchain technology and cryptocurrencies to transform the gaming industry. As the metaverse continues to gain traction and Web3 experiences become more prevalent, collaborations like this will undoubtedly shape the future of digital entertainment.
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