The metaverse gaming venture Overdare and stablecoin giant Circle have announced a strategic partnership poised to redefine the landscape of gaming content monetization.
This alliance aims to integrate Circle’s advanced Programmable Wallets service within the Overdare platform, offering a seamless avenue for game content creators to receive earnings in USD Coin (USDC), a stablecoin pegged to the US dollar.
Bridging Web2 and Web3 Worlds With USDC
Overdare, developed jointly by Naver Z and Krafton, was introduced in September 2023 as an NFT-driven mobile game reminiscent of Roblox and powered by Unreal Engine 5.
The integration of Circle’s Programmable Wallets facilitates in-game wallets and USDC payouts, offering a stable and reliable method for content creators to access their earnings. The new partnership with Overdare will also streamline revenue flows for creators and mark a significant leap towards integrating Web3 technologies into mainstream gaming.
Henry Park, CEO of Overdare, highlighted the significance of the partnership with Circle, praising its potential to provide creators with “reliable access to their earnings” through a regulatory-compliant framework.
Meanwhile, Circle’s co-founder and CEO, Jeremy Allaire, said the collaboration will “be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all.”
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! https://t.co/eMD0GwGamZ
— Jeremy Allaire (@jerallaire) February 26, 2024
The partnership arrives amid a surge in interest and investment in blockchain gaming tokens, exemplified by the recent valuation spike of the Web3 game Pixel’s cryptocurrency following its listing on Binance.
Overdare plans to establish transparent revenue distribution across various platforms with the help of Circle’s programmable wallets. The company also intends to implement this technology to manage assets for creators transitioning to web3 platforms. While the exact dates have not been disclosed, the company aims to launch the platform worldwide in the second half of 2024.
