Krafton, a major gaming company in South Korea, has partnered with Circle, the issuer of the stablecoin USDC, to integrate Circle’s Web3 wallet and support USDC payments on its mobile metaverse platform called “Overdare”. This collaboration aims to provide instant and efficient financial transactions within the blockchain gaming space, which is crucial for retaining players.
Creating a blockchain-based metaverse platform, especially for traditional brands, requires not only time but also the expertise of Web3 developers, which increases the cost of personnel. However, by integrating Circle’s Wallet-as-a-Service product, developers can reduce the cost and time required to develop their own wallets while seamlessly integrating their Web3 applications. This, in turn, helps developers and creators transition easily from traditional Web2 platforms to Web3, while providing users with a user-friendly interface for asset management and secure transactions.
To further promote the creator economy, Overdare has chosen to integrate USDC as the payment and settlement method. USDC, which is tied to the US dollar and has a high level of stability, provides convenience to creators by offering fast and location-independent financial transactions on the blockchain.
Jeremy Allaire, the CEO of Circle, expressed his enthusiasm for this partnership, stating that through the provision of a secure Web3 wallet and instant USDC payments, this collaboration will serve as a catalyst for building the future of digital entertainment and nurturing an innovative Web3 environment.
So, who exactly is Overdare, the metaverse platform that Circle chose to partner with? Overdare is a metaverse platform developed through a joint venture between Krafton, the team behind the popular game “PlayerUnknown’s Battlegrounds” (PUBG), and Navar Z, a South Korean internet giant. It is set to be officially launched in the second half of 2024. Overdare is like the mobile version of Roblox, where users can freely create their own games using generative AI. It offers a wide range of game genres, including role-playing, sports, and shooting games. Additionally, the platform allows users to customize avatars and engage in in-game chat, making it a metaverse that combines gaming and social elements.
One unique feature of Overdare is its “Create-to-Earn” model, which allows creators to turn their own content, such as items, into NFTs and sell them to players, thereby generating income. Currently deployed on the Settlus mainnet, Overdare ensures transaction transparency and security through blockchain technology, enabling players to truly “own” digital assets. This sets Overdare apart from Roblox.
With the partnership with Circle, Henry Park, the CEO of Overdare, emphasizes that the compliance provided by Circle ensures the platform’s ability to support the creator economy safely and effectively, while guaranteeing creators immediate earnings.
Sources:
Decrypt, NFTplazas
Proofread by: Gao Jingyuan