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Anvi Saini
Anvi Saini
Feb 27, 2024
News

Circle Partners with Overdare for Enhanced IP Trading and USDC Payouts

Circle's collaboration with Overdare introduces IP trading and USDC stablecoin payouts, promising creators secure and instant access to earnings in the upcoming metaverse gaming platform by Krafton Inc. and Naver Z.
Circle Partners with Overdare for Enhanced IP Trading and USDC Payouts

USDC stablecoin issuer Circle is teaming up with Overdare, the metaverse gaming project backed by PUBG developer Krafton Inc. and South Korean 3D avatar specialist Naver Z. This partnership aims to change the way creators monetize their content, offering them the ability to conduct IP trading and receive revenue payouts in USDC stablecoin directly on the Overdare platform.

Scheduled for launch in the latter half of this year, Overdare is poised to empower creators with Web3 wallets utilizing Circle's technology stack. This integration ensures that revenue generated within the Overdare ecosystem can be seamlessly converted and paid out in USDC, a stablecoin pegged 1:1 with the U.S. dollar. With a current market capitalization of $28 billion, USDC's role in this partnership underscores the growing intersection of cryptocurrency and digital gaming economies.

Overdare Studios

Circle CEO and co-founder Jeremy Allaire expressed enthusiasm about the collaboration, highlighting Circle's commitment to supporting the creator economy through secure Web3 wallets and rapid USDC payouts on a global scale.

Overdare is envisioned as a mobile game platform akin to Roblox, built on Epic Games’ Unreal Engine 5 and offering a suite of generative AI tools. These tools will enable creators to design their shooter games, RPGs, and action RPGs, among other genres. Additionally, the platform will feature social gaming elements, allowing users to create custom avatars and engage in conversations with one another.

Development of Overdare is underway atop the Settlus blockchain, with plans to introduce Overdare Studio—a PC-based creative toolkit. This suite will allow creators to further customize and enhance gaming experiences within Overdare, promising a rich, user-generated content landscape.

Overdare CEO Henry Park highlighted the importance of Circle's partnership, noting the company's regulatory compliance and trustworthiness as key factors. This collaboration is set to ensure creators have reliable access to their earnings, marking a pivotal step in supporting the creator economy within the Web3 space.

As the gaming industry continues to evolve with blockchain technology and cryptocurrency, partnerships like that of Circle and Overdare represent the forefront of innovation, blending traditional gaming experiences with the new possibilities offered by Web3 technologies.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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