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

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

By Crypto FlexsFebruary 26, 20242 Mins Read
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Circle partners with joint venture of Krafton and Naver Z to build ‘Roblox-style’ metaverse
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Posted 1 minute ago In ~

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

-0.03%
payout.

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.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.

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