Binance Labs Invests $15M in Xterio, Making a Big Bet on Web3 Gaming

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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.

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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.

Frequently Asked Questions (FAQs) Related to the Above News

What is Binance Labs' investment in Xterio?

Binance Labs, the investment arm of Binance, has invested $15 million in Xterio, a Web3 game platform and publisher.

What is Xterio?

Xterio is a GameFi-as-a-service platform that allows developer partners to create free-to-play games and offers an AI-driven interactive experience.

How much funding did Xterio raise before the investment from Binance Labs?

Xterio recently raised $40 million in a funding round led by FTX Ventures, along with XPLA and Makers Fund.

What are the benefits of the investment for Xterio?

The investment from Binance Labs allows Xterio to launch its own tokens, expand its AI-driven experience, and integrate its token into the BNB Chain ecosystem. It also enables Xterio tokens to be traded on the Binance decentralized exchange.

What is Web3 gaming?

Web3 gaming is a subset of the Web3 revolution, which incorporates blockchain technology into decentralized applications. Web3 gaming utilizes blockchain to create decentralized games where players can earn virtual currencies, acquire virtual assets, and experience unique adventures.

What are the advantages of Web3 gaming for players?

Web3 gaming offers true ownership of in-game assets, the ability to buy, sell, and trade assets for cryptocurrencies, enhanced security and privacy through distributed ledgers and encryption protocols, and greater involvement in game design and mechanics.

What will Xterio focus on with the funding from Binance Labs?

With the funding, Xterio will focus on developing an AI toolkit for generating high-quality 2D and 3D assets, enhancing the gaming experience for players in the Web3 space.

How will the partnership with Binance Labs benefit Xterio?

The partnership with Binance Labs will help Xterio reach a wider audience, solidify its position as a pioneer in Web3 gaming, and drive the development of the cryptocurrency mining industry.

What does this investment signify for the evolution of Web3 gaming?

Binance Labs' investment in Xterio represents a significant milestone in the evolution of Web3 gaming, bringing exciting gaming experiences and furthering the integration of blockchain technology into the gaming industry.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Advait Gupta
Advait Gupta
Advait is our expert writer and manager for the Artificial Intelligence category. His passion for AI research and its advancements drives him to deliver in-depth articles that explore the frontiers of this rapidly evolving field. Advait's articles delve into the latest breakthroughs, trends, and ethical considerations, keeping readers at the forefront of AI knowledge.

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