OVERTAKE Marketplace Prepares for September Launch with Web3 Innovations
The post OVERTAKE Marketplace Prepares for September Launch with Web3 Innovations appeared on BitcoinEthereumNews.com. Tony Kim Aug 26, 2025 13:43 OVERTAKE, a new venture from Asia’s leading gaming marketplaces, is set to launch in September, offering secure onchain escrow and a creator-first storefront for gamers and developers. OVERTAKE, an emerging marketplace from some of Asia’s largest gaming secondary platforms like ItemBay and ItemMania, is set to revolutionize the digital asset trading landscape with its official launch in September, according to Sui Foundation. These platforms, which facilitate a substantial $700 million USD in annual trades, are now entering the Web3 space, leveraging the robust infrastructure and security of the Sui blockchain. From Closed Beta to Official Launch OVERTAKE’s journey began with a Closed Beta Test (CBT) in May, which recorded $63,000 in trades from 195 deals. Following this, an open beta was launched in June, aiming to provide gamers with a secure peer-to-peer trading experience for in-game assets. This phase saw the introduction of various innovative features, including onchain escrow, zkLogin for seamless onboarding, personalized storefronts for sellers, gas fee subsidies, and fiat top-up options through Banxa. By August, the marketplace had attracted over 1,500 users, facilitating more than 500 trades and generating approximately $120,000 in trading volume. The upcoming September launch aims to expand beyond its current game offerings, Lord Nine and Path of Exile 2, to a wider audience. Innovative Onchain Escrow OVERTAKE is redefining peer-to-peer trading with its onchain escrow system, which uses a 2-of-3 multisig approach involving the buyer, seller, and platform. This setup locks funds on the Sui blockchain, automatically releasing them once both parties confirm the transaction. This method reduces the risk of disputes, increases transparency with verifiable transactions, and cuts transaction fees from up to 20% on traditional platforms to just 10%. Fiat to Crypto Transactions In addition to escrow,…
BitcoinEthereumNews2025/08/27 00:39