Circle partners with joint venture of Krafton and Naver Z to build ‘Roblox-style’ metaverse

Stablecoin issuer Circle Internet Financial on Monday announced a partnership with Overdare, a joint venture formed by South Korean gaming and metaverse giant Krafton and Naver Z Corporation.

Through the partnership, Overdare reportedly plans to develop a user-generated content gaming platform leveraging Circle’s programmable wallet. name It was released on Monday. This arrangement can help gaming content creators create an in-game wallet for receiving. USDC

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at postCircle CEO Jeremy Allaire said a “large-scale Roblox-style” metaverse based on Circle’s wallet infrastructure and USDC is in development.

The platform, named Overdare, aims to provide users with artificial intelligence creation tools and is expected to launch in the second half of 2024, the company said in a statement. We plan to build a revenue distribution model for creators by integrating Settlus, a layer 1 blockchain based on Cosmos.

“We believe this partnership will be a catalyst to shape the future of digital entertainment and ultimately create a transformative Web3 environment for everyone,” Allaire said in a statement.

Circle’s USDC is the second-largest dollar-pegged stablecoin, with a market capitalization of $28.2 billion. block data.

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