USDC Issuer Circle Teams Up with Overdare to Build a ‘Roblox-Style’ In-Game Wallet for the Metaverse
Posted: February 26, 2024 2:13 AM Updated: February 26, 2024 2:13 AM
Correction and fact check date: February 26, 2024, 2:13 AM
briefly
Circle is collaborating with Overdare to facilitate the integration of programmable wallets and enhance its user-generated content gaming platform.
USDC stablecoin issuer Circle Internet Financial announced a collaboration with Overdare, a joint venture founded by South Korean gaming and metaverse company Krafton and Naver Z Corporation. Through this partnership, Overdare aims to enhance the development of its user-generated content gaming platform using Circle’s programmable wallet.
The strategic partnership is expected to empower gaming content creators by enabling them to build an in-game wallet to seamlessly receive USDC payments and create a dynamic and user-friendly gaming ecosystem.
According to a post by Circle CEO Jeremy Allaire on social media platform
The company believes that this collaboration will serve as a catalyst to shape the trajectory of digital entertainment, ultimately contributing to creating a Web3 environment that benefits all stakeholders.
Overdare is expected to launch in the second half of 2024 with the goal of providing AI creation tools to users. The platform plans to build an efficient revenue distribution model by integrating Cosmos-based layer 1 blockchain Settlus into its infrastructure. For content creators.
Circle strengthens USDC’s strategic position.
Circle is responsible for the issuance and governance of USDC, a cryptocurrency pegged to the U.S. dollar and is currently the second-largest stablecoin behind Tether. Currently, Circle’s USDC market cap is $28.2 billion.
The company recently obtained regulatory approval to operate digital assets in France, allowing it to operate in compliance with European standards. It also secretly filed for an initial public offering (IPO) of equity securities in the United States, outlining its intention to turn into a public company.
Circle’s strategic collaboration focused on enhancing entertainment not only positions the company as a key player shaping the future of the digital financial landscape, but also strengthens its position within the industry.
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About the author
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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