OVERTAKE Marketplace Gears up for Official Launch

OVERTAKE is the latest venture from some of Asia’s largest and most established gaming secondary marketplaces, like ItemBay and ItemMania. These platforms are deeply embedded in gamer economies where secondary Web2 digital asset trading is the norm, moving a combined $700 million USD in annual trading volume. 

That experience and infrastructure are now being brought to Web3 through OVERTAKE, pairing decades of marketplace expertise with the speed and security of Sui.

From Closed Beta to Launch

After a CBT (Closed Beta Test) in May that saw $63,000 in trades across just 195 deals, OVERTAKE rolled out an open beta in June for its onchain gaming marketplace. The goal is to bring secure, peer-to-peer in-game asset trading to gamers, powered by Sui.

Throughout the open beta, OVERTAKE introduced a streamlined trading experience for gamers, integrating onchain escrow, zkLogin for one-click onboarding, personalized sellers’ storefronts, gas fee subsidy, and fiat top-up via Banxa.

As of August, more than 1,500 users had joined the marketplace with over 500 trades completed. In total, those transactions accounted for around $120,000 in trading volume. With the official launch in September, the marketplace is about to scale to a broader audience with more games beyond its current support for Lord Nine and Path of Exile 2.

How onchain escrow is evolving P2P trading

In traditional P2P marketplaces like eBay or PlayerAuctions, escrow often involves a centralized intermediary: funds move to the platform, the seller ships or transfers the digital asset, and only after confirmation are funds released. This process can take days, involves multiple middlemen, and relies on trust in the platform’s judgment, often leading to disputes, delays, and high fees.

OVERTAKE’s approach flips the model. Using a 2-of-3 multisig escrow (buyer, seller, platform), funds are locked on Sui and automatically released when both parties confirm. This onchain automation:

• Reduces risk of disputes by removing manual handling.
• Increases transparency with publicly verifiable transactions.
• Cuts fees dramatically (from up to 20% seen on traditional platforms to 10%).

Fiat in, crypto out

Beyond escrow, OVERTAKE has introduced its upcoming “pay with fiat, settle in crypto” structure, to be launched as TakePay. Traditionally, marketplaces use payment gateways to process and remit funds to sellers. These gateways take a percentage cut, eating into both platform and seller profits.

OVERTAKE’s architecture replaces these intermediaries: buyers can pay with fiat, and sellers receive stable coins directly onchain. This setup bypasses payment gateway fees, reduces settlement time, and keeps transactions verifiable and secure on Sui.

Buyers that wish to pay with fiat only need to interact with Sui during the onchain escrow phase and may do so easily thanks to Slush and zkLogin. Slush also offers a streamlined experience for those who want to pay using USDC.In the closed beta, this model was tested successfully, reducing payout costs by 70% compared to legacy payment processing. A preview of TakePay is live on OVERTAKE’s website, with full rollout expected in the coming months.

Expanding what a marketplace can do

OVERTAKE recognizes that today’s digital commerce is broken for creators. Sellers are often confined to rigid marketplaces that dictate what they can sell and how they present it. This lack of true ownership not only stifles creativity but also limits opportunities for community-driven business models. To address this, OVERTAKE created TakeShop, a customizable storefront solution that gives creators, gamers, and brands the freedom to sell almost anything, including digital goods, in-game assets, physical merchandise, services, and even gated content. 

Transactions are secured with programmable escrow to reduce disputes and build trust, while a built-in reward engine lets sellers share revenue with the community members who help them scale. By combining flexibility, security, and incentives, TakeShop transforms digital commerce into a creator-first, community-powered model.

Addressing P2P trading’s two biggest challenges

The global Web2 P2P gaming asset market is already massive. Hundreds of millions of dollars move annually through platforms with manual escrow processes and high-fee payment gateways.

OVERTAKE is tackling both of these pain points head-on. Moving from a trust-based, centralized holding to automated, on-chain execution and eliminating payment gateway middlemen will level up gaming marketplaces.