Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has made a $15 million commitment to Xterio, a Web3 game platform, in order to integrate artificial intelligence (AI) technologies. Xterio serves as a strategic partner for Binance and aims to bridge the gap between free-to-play games and blockchain gaming. The investment by Binance Labs will enable Xterio to expand its game development capabilities and launch its own tokens.
Xterio’s executive team boasts extensive experience in the tech and gaming industries, having worked for companies like FunPlus, Ubisoft, Krafton, Jam City, and NetEase. The funding will go towards supporting the operations of Xterio, which currently employs 80 people, rather than the Xterio Foundation.
The team behind Xterio has a strong track record in developing and maintaining successful free-to-play social games for PC and mobile platforms. Binance Labs will provide support to facilitate the growth of Xterio, and the platform’s token will become part of the BNB Chain ecosystem as part of their long-term strategic partnership.
Xterio’s ecosystem is rapidly expanding, with a diverse range of cross-platform games set to be released for PC and mobile. The platform also plans to feature digital collectibles distributed through its web platform and marketplace. Xterio caters to a wide audience of gamers, offering games such as Overworld, the strategic Age of Dino, and the action-packed 3T.
The investment from Binance Labs will allow Xterio to enhance its AI capabilities, develop AI-driven interactive experiences, and address issues related to AI provenance in the Web3 environment.
Currently, Xterio is in the process of developing an AI toolkit that generates high-quality 2D and 3D assets in a consistent style. The toolkit will also incorporate an emotion engine to provide users with companion-like interactions that go beyond the typical utility associated with AI. Xterio plans to make this technology accessible to all content partners within their ecosystem.
Michael Tong, Co-founder of Xterio, stated that the significant investment from Binance Labs demonstrates the long-term belief in Web3 gaming and recognizes Xterio as a leading Web3 game platform. Tong believes that the investment will strengthen Xterio’s ability to launch a transformative ecosystem token and high-quality games, establishing the platform’s position as a global leader in Web3-focused publishing.
The Xterio Foundation, based in Switzerland, consists of a council and a team of technology and entertainment professionals with extensive experience in free-to-play games. The foundation’s mission is to develop, publish, and distribute high-quality Web2 and Web3 games and interactive entertainment.
With a portfolio of over 200 projects spanning six continents, Binance Labs has become a significant player in the industry, with a valuation exceeding $9 billion. Yi He, Co-founder of Binance and Head of Binance Labs, expressed enthusiasm for the Xterio project. She believes that Xterio’s expansion, combining free-to-play genres with on-chain gaming fueled by AI capabilities, will provide gamers worldwide with a rich on-chain gameplay experience.
The investment from Binance Labs will undoubtedly propel Xterio’s growth, allowing the platform to leverage AI technologies and solidify its position as an innovative force in the Web3 gaming industry.
