Binance Labs, the investment arm of Binance, the world’s largest cryptocurrency exchange, has made a significant investment in Xterio, a Web3 game platform and publisher. The investment commitment amounts to $15 million and will allow Xterio to further develop its platform and incorporate cutting-edge features like artificial intelligence (AI).
Xterio is a GameFi-as-a-service platform that enables its developer partners to create free-to-play games. Recently, Xterio raised $40 million in a funding round led by FTX Ventures, along with XPLA and Makers Fund. With this fresh injection of funds from Binance Labs, Xterio will be able to launch its own tokens and expand its AI-driven interactive experience.
One of the major benefits of this investment is the strategic partnership between Xterio and Binance Labs. Xterio’s token will be integrated into the BNB Chain ecosystem, allowing Binance users to access Xterio games using their Binance credentials. Additionally, they will be able to trade Xterio tokens on the Binance decentralized exchange (DEX).
In collaboration with Binance Labs, Xterio is also working on building an AI toolkit that can generate high-quality 2D and 3D assets. This will enhance the overall gaming experience for players and further differentiate Xterio in the Web3 gaming space.
The investment by Binance Labs demonstrates their commitment to supporting innovative companies at the forefront of the Web3 revolution. Web3 refers to the next generation of the internet, characterized by the incorporation of blockchain technology into decentralized applications. Web3 gaming, a subset of this movement, utilizes blockchain technology to create decentralized games where players can earn virtual currencies, acquire virtual assets, and enjoy unique adventures.
Web3 gaming has numerous advantages for players. All in-game assets are stored on the blockchain, ensuring true ownership for players. This enables them to buy, sell, and trade assets for cryptocurrencies, opening up new opportunities to make money from gaming. Additionally, Web3 gaming provides enhanced security and privacy through the use of distributed ledgers and encryption protocols. Players also have more say in the design of game rules and mechanics, creating a more equitable gaming experience.
With the funding from Binance Labs, Xterio is set to make significant strides in the development of Web3 gaming. Its advanced platform and AI capabilities will provide players with a more immersive on-chain gaming experience. This partnership will enable Xterio to reach a wider audience and solidify its position as a pioneer in the Web3 gaming space.
Overall, Binance Labs’ investment in Xterio marks a significant milestone in the evolution of Web3 gaming. The collaboration between the two entities will drive the development of the cryptocurrency mining industry and bring a new wave of exciting gaming experiences to players worldwide.
