Circle partners with Overdare to bring programmable USDC wallets to metaverse

Stablecoin issuer Circle has teamed up with Krafton-backed Overdare to expand the use cases of programmable USDC wallets.

In a blog announcement on Feb. 26, Circle unveiled a strategic partnership with Overdare, a metaverse venture set up by game publisher Krafton and Naver Z, to double down on the mobile user-generated content.

Under the partnership agreement, Circle will integrate its programmable wallets, a wallet-as-a-service solution, into Overdare to allow game content creators to receive USDC payouts directly through the platform.

“We believe this partnership will be a catalyst in shaping the future of digital entertainment, ultimately fostering an innovative Web3 environment for all.”

Circle CEO Jeremy Allaire

The announcement says that with Circle’s programmable wallets, Overdare wants to ensure transparent revenue distribution across various platforms. As a result, Overdare plans to implement the technology for IP trading and USDC revenue payouts, simplifying asset management for creators transitioning to web3 platforms. Although specific dates remain undisclosed, the worldwide debut of the Overdare platform is slated for the second half of 2024.

Unveiled in September 2023, Overdare is a non-fungible token (NFT) mobile game enabling user-generated content akin to Roblox. Utilizing Unreal Engine 5, the game boasts artificial intelligence (AI) tools for content creation, with specific details yet to be disclosed.