Binance Labs, Binance's startup financing and incubator arm, has made a $15 million investment in Xterio to enhance its Web3 game platform using AI technology.
Xterio is a strategic business partner and operating firm for Binance. Through internally developed games and games from third parties, Xterio seeks to bridge the gap between free-to-play games and blockchain gaming. By incorporating AI and launching its tokens, the investment from Binance Labs will assist Xterio in increasing its game-creation skills.
The founding executive team of Xterio has previous experience working for tech, Web2-gaming, and entertainment firms like FunPlus, Ubisoft, Krafton, Jam City, and NetEase. The money will be invested in Xterio, the running firm, not the Xterio Foundation. 80 people work for Xterio.
The group has a lot of experience making and maintaining popular, free-to-play social games for PC and mobile devices. As part of the long-term strategic relationship, Binance Labs will assist Xterio's expansion, and Xterio's token will join the BNB Chain ecosystem.
With a wide range of cross-platform games set for release on PC and mobile, Xterio said that its ecosystem is expanding quickly. Additionally, the ecosystem will include digital collectibles sold on Xterio's online store. With titles like Overworld, the strategic nuance of Age of Dino, and 3T's fierce combat, Xterio appeals to a wide range of gamers.
“This significant financial investment "confirms Binance Labs' long-term view of Web3 gaming and recognizes Xterio as a top-tier, globally impactful Web3 game platform," stated Michael Tong, cofounder of Xterio."The investment from Binance Labs strengthens our ability to launch a transformative ecosystem token and high-quality games." We envision boundless possibilities in collaboration with Binance Labs and seek to strengthen our position as a top Web3-focused publisher with global reach by combining our East and West teams.”
The Xterio ecosystem is growing more quickly than ever and connects free-to-play gaming with on-chain gaming that is boosted by AI capabilities, according to a statement from Yi He, co-founder of Binance and head of Binance Labs. "The Xterio core team combines seasoned Web2 specialists with Web3 expertise; we look forward to working together with them to provide immersive on-chain gameplay to players all over the world.
Closing Thoughts
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