Metaverse-focused venture Overdare announced a partnership with USD Coin issuer Circle to integrate in-game Web3 wallets and USDC payouts for its gaming content creators.
On Feb. 26, Circle announced a strategic partnership with Overdare to enable easier crypto payouts for game content creators. According to the announcement, Overdare will integrate the stablecoin issuer’s Programmable Wallets service to allow in-game wallets and USD Coin (USDC) payouts for gaming content payouts. This enables content creators to receive stablecoins in exchange for their gaming content.
Overdare is a nonfungible token (NFT)-driven metaverse game that is a joint venture between the software company Naver Z and video game publisher Krafton, which is known for its role in releasing the popular battle royale game PUBG: Battlegrounds. The project was announced on Sept. 15, 2023, as a Roblox-like mobile game built with the Unreal Engine 5.
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
Apart from the wallet, Circle also highlighted that the metaverse game will integrate the USDC stablecoin as an alternative way for creators to settle transactions and generate revenue. The metaverse firm sees this as an opportunity to help gaming creators transition from Web2 platforms into the Web3 space.
Overdare CEO Henry Park expressed the team’s excitement for the partnership with Circle. The executive praised the stablecoin issuer’s regulatory compliance and said the partnership would “guarantee creators reliable access to their earnings.”
Circle co-founder and CEO Jeremy Allaire expressed his belief that the collaboration could contribute to shaping the “future of digital entertainment” and foster a Web3 environment for everyone. Allaire also highlighted that they are excited to provide Web3 wallets and USDC payout support to Overdare to help the creator economy.
The latest development in Overdare comes amid an uptick in interest in blockchain gaming tokens. On Feb. 22, Web3 game Pixel’s crypto token approached a valuation of $2.7 billion after it got listed on the crypto exchange Binance. By then, the PIXEL token reached a high of $0.53, a more than 10x gain from its listing price of $0.04.