OVERDARE, Inc., a joint venture backed by gaming/metaverse industry participants KRAFTON, Inc. and NAVER Z Corporation, announced a partnership with Circle Internet Financial, a global financial technology firm and the issuer of USDC, the world’s “largest regulated” US dollar-backed stablecoin.
This collaboration is set to reshape “the mobile user-generated content (UGC) gaming landscape by leveraging Circle’s Programmable Wallets, enabling game content creators to easily create secure in-game Web3 wallets and receive USDC payouts directly on the platform.”
At the heart of the alliance is a UGC mobile gaming platform “developed by OVERDARE, Inc, which is synonymously named OVERDARE.”
Boasting a suite of advanced AI-generative tools and features, the platform promises “an enriched, immersive experience uniquely tailored to both gamers and creators.”
OVERDARE is also introducing “the ‘OVERDARE Studio’, a comprehensive PC-based creative suite offering innovative tools for creators to craft and personalize gaming experiences within the platform.”
To enhance the creator-centric ecosystem, OVERDARE is “integrating the Settlus network to streamline creative interactive content licensing, allowing creators to prove asset ownership, license and monetize their creations on the blockchain.”
Settlus is a purpose-built layer-1 blockchain network “within the Cosmos ecosystem that aims to simplify interoperability between different blockchains, and it maintains a clear record of digital asset transactions.”
This approach paves the way for “an efficient, transparent, and scalable revenue distribution model for creators across different platforms.”
Furthermore, OVERDARE, Inc. seeks to improve IP and income management “for creators by implementing Circle’s Programmable Wallets for IP trading and USDC revenue payouts.”
This solution is designed “to ease the transition of creators from traditional Web2 platforms into Web3, focusing on user-friendly asset management and secure transactions.”
This initiative aims to unlock new opportunities “in the burgeoning metaverse and gaming sectors for creators.”
Finally, to further boost the creator economy, OVERDARE has chosen “to integrate USDC as an alternate means for creators to generate revenue and settle transactions.”
This enables creators worldwide to benefit “from reduced settlement fees and the convenience of near-instant 24/7 payment processing, empowering them to access earnings on demand.”
Henry Park, CEO of OVERDARE, stated:
“We’re excited to unveil our partnership with Circle, a company distinguished by its regulatory compliance and trustworthiness. Their robust support ensures that we are able to support the creator economy, and guarantee creators reliable access to their earnings. Circle is excited to be at the forefront of this pioneering venture with OVERDARE to empower the creator economy through the provision of secure Web3 wallets and near-instant USDC payouts on a global scale.”
Jeremy Allaire, CEO and co-founder of Circle, said:
“We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all.”
The global launch of the OVERDARE platform is slated “for H2 of 2024, with more details and announcements to be shared on OVERDARE’s social media channel closer to the launch date.”