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Circle Partners with Overdare to Introduce Programmable USDC Wallets to Metaverse

Circle, a prominent stablecoin issuer, has joined forces with Overdare, a venture backed by Krafton, to expand the utility of programmable USDC wallets within the metaverse.

In a recent blog post on Feb. 26, Circle announced a strategic collaboration with Overdare, a metaverse initiative established by Krafton and Naver Z, focusing on mobile user-generated content.

As part of this partnership, Circle will integrate its programmable wallets, a wallet-as-a-service solution, into Overdare’s platform. This integration will enable content creators within the gaming ecosystem to receive USDC payouts directly through the platform.

Jeremy Allaire, CEO of Circle, expressed optimism about the partnership, highlighting its potential to drive innovation in digital entertainment and foster a more dynamic Web3 environment.

The collaboration aims to facilitate transparent revenue distribution across various platforms, enhancing asset management for creators transitioning to web3 platforms. Overdare intends to leverage Circle’s programmable wallets for IP trading and USDC revenue payouts, streamlining financial operations for content creators.

Although specific timelines were not disclosed, the global launch of the Overdare platform is anticipated to occur in the second half of 2024.

Overdare, introduced in September 2023, is a mobile game based on non-fungible tokens (NFTs) that enables user-generated content similar to Roblox. Powered by Unreal Engine 5, the game incorporates artificial intelligence (AI) tools for content creation, promising an immersive gaming experience for users.

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