Overdare, a venture focused on the metaverse, has announced a partnership with Circle, the issuer of USD Coin (USDC), to integrate in-game Web3 wallets and USDC payouts for its gaming content creators.
On February 26, Circle revealed a strategic partnership with Overdare to facilitate easier cryptocurrency payouts for game content creators. As part of the partnership, Overdare will incorporate Circle’s Programmable Wallets service, allowing in-game wallets and USDC payouts for gaming content. This integration enables content creators to receive stablecoins in exchange for their gaming content.
Overdare is a metaverse game driven by nonfungible tokens (NFTs) and is a collaboration between software company Naver Z and video game publisher Krafton, known for its involvement in the popular battle royale game PUBG: Battlegrounds. The project was announced on September 15, 2023, as a mobile game similar to Roblox, built using the Unreal Engine 5.
In addition to the wallet integration, Circle emphasized that the metaverse game will also incorporate the USDC stablecoin as an alternative method for creators to settle transactions and generate revenue. The metaverse company views this as an opportunity to assist gaming creators in transitioning from Web2 platforms to the Web3 space.
Henry Park, CEO of Overdare, expressed the team’s enthusiasm for the partnership with Circle. Park commended the stablecoin issuer’s compliance with regulations and stated that the partnership would ensure creators have reliable access to their earnings.
Jeremy Allaire, co-founder and CEO of Circle, believes that this collaboration could contribute to shaping the future of digital entertainment and foster a Web3 environment accessible to all. Allaire also expressed excitement about providing Web3 wallets and USDC payout support to Overdare in order to support the creator economy.
The recent developments in Overdare come at a time of increased interest in blockchain gaming tokens. On February 22, the crypto token of the Web3 game Pixel reached a valuation of $2.7 billion after being listed on the cryptocurrency exchange Binance. The PIXEL token reached a peak of $0.53, representing a more than 10x gain from its listing price of $0.04.
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