The USDC issuer Circle is collaborating with Overdare to introduce in-game wallets that fit into the concept of a 'Roblox-style' metaverse.
In Brief
In this partnership, Circle is working alongside Overdare to embed programmable wallets into an exciting gaming platform that draws inspiration from the popular Roblox-style metaverse.
USDC stablecoin issuer Circle Internet Financial This collaboration was unveiled, highlighting Overdare, a joint venture formed by leading gaming and metaverse enterprises in South Korea. Krafton and Naver Z Corporation The collaboration aims to leverage Circle’s programmable wallets to further develop a platform focused on user-generated content in gaming.
This strategic partnership is expected to empower content creators by enabling the integration of in-game wallets, thereby simplifying the process of receiving USDC payouts and nurturing a vibrant and accessible gaming environment.
According to a post by Jeremy Allaire According to the CEO of Circle on social media platform X, efforts are underway to develop a metaverse on par with Roblox, built on the robust foundation provided by Circle’s wallet technology and the USDC stablecoin.
The company anticipates that this collaboration will act as a driving force in shaping the future of digital entertainment, ultimately leading to the establishment of a Web3 ecosystem that benefits all participants.
With a focus on providing AI-driven tools, Overdare is set to launch in the latter part of 2024, integrating Cosmos-based Layer 1 blockchain technology into its infrastructure. Settlus This will help create an efficient revenue-sharing model tailored for content creators.
Circle is solidifying the strategic presence of USDC within the market.
Circle As the governing body for USDC, a cryptocurrency pegged to the US dollar, Circle holds the title of the second-largest stablecoin after Tether, with a market capitalization of approximately $28.2 billion.
Recently, Circle received regulatory approval for digital asset operations in France, ensuring compliance with European regulations. Additionally, the company has confidentially filed initiated procedures for an initial public offering (IPO) in the U.S. for its equity securities, aiming for a transition into a publicly trading corporation.
Such strategic partnerships are designed to enhance the realm of entertainment, positioning Circle as a pivotal player in shaping the evolving landscape of digital finance and reinforcing its industry position.
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