Stablecoin major Circle has inked a key partnership with soon-to-launch OVERDARE, a joint initiative by PUBG maker Krafton and NAVER Z Corporation, embarking on a large-scale Roblox-style metaverse. The collaboration promises an enriched, immersive experience exclusively crafted for both gamers and creators with OVERDARE’s advanced AI-generative tools and features and Circle’s programmable wallets.
As per the press release, Circle intends to redefine the mobile user-generated content [UGC] gaming landscape by enabling game content creators to easily create secure in-game Web3 wallets and receive USDC payouts directly on the platform. To further enhance the creator-centric ecosystem, the participating entities would deploy the proposed metaverse on the Settlus network, a layer-1 blockchain network within the Cosmos ecosystem.
Jeremy Allaire, CEO and co-founder of Circle, believes that the joint venture with one of the largest game studios in the world will bolster mainstream-scale Web3 experiences.
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. We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all.
The official worldwide launch of the OVERDARE platform is slated for H2 of 2024, with more details and announcements to be shared on its social media channel closer to the launch date, according to the blog post.
Circle’s IPO & USDC-Celo Power Duo
Circle is also planning to launch an IPO by early 2024, contingent on the review by the Securities and Exchange Commission [SEC] and prevailing market conditions. The issuer of the largest regulated US dollar-backed stablecoin recently joined hands with the Celo Foundation to deploy its USDC stablecoin natively on the Celo blockchain. USDC, a regulated digital dollar recognized for its stability and accessibility worldwide, will further amplify its utility by being minted directly on the Celo blockchain.
This partnership is poised to position Celo’s image as a carbon-negative, mobile-first, and EVM-compatible blockchain tailored for real-world applications. With a staggering market cap of $135.16 billion, stablecoins have emerged as dominant real-world assets, providing a gateway for broader financial access and inclusion.