July 12, 2023 5:30 PM
Binance is investing $15M into Xterio.
Image Credit: Xterio
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Binance Labs, the venture capital and incubation arm of Binance, has committed $15 million to Xterio to boost its Web3 game platform with AI technologies.
Xterio is a service provider and strategic partner for Binance. Xterio aims to bridge free-to-play games and blockchain gaming with in-house and third-party games currently in development. The investment from Binance Labs will help Xterio expand its game development capabilities by integrating AI and launching its tokens.
Xterio’s founding executive team has experience in tech, Web2 gaming, and entertainment companies, such as FunPlus, Ubisoft, Krafton, Jam City and NetEase. The investment is going into the operating company, Xterio, and not the Xterio Foundation. Xterio has 80 employees.
The team has a lot of expertise in creating and maintaining high-grossing, free-to-play social games on PC and mobile. Binance Labs will support Xterio’s growth, and Xterio’s token will become part of the BNB Chain ecosystem as part of the long-term strategic partnership.
Xterio said its ecosystem is growing rapidly, with a diverse suite of cross-platform games scheduled to be released on PC and mobile. The ecosystem will also feature digital collectibles distributed via Xterio’s web platform and marketplace. Xterio caters to a wide range of gamers with games such as Overworld; the strategic depth of Age of Dino; and intense action through 3T.
Xterio plans to utilize the investment to expand its AI capabilities, develop AI-driven interactive experiences, and resolve AI provenance issues in Web3.
Age of Dino is an upcoming Web3 game from Xterio.
Currently, Xterio is in the process of developing an AI toolkit that generates style-consistent, production-quality 2D and 3D assets while also offering an “emotion engine for artificial intelligence.” This technology will be accessible to all content partners within the Xterio ecosystem, aiming to provide users with meaningful companionship that goes beyond the utility typically associated with AI.
“This significant capital commitment affirms Binance Labs’ long-term view of Web3 gaming and recognizes Xterio as a top-tier, globally impactful Web3 game platform,” said Michael Tong, cofounder of Xterio, in a statement. “Binance Labs’ investment enhances our ability to launch a transformative ecosystem token and high-quality games. In partnership with Binance Labs, we envision unlimited potential and aim to reinforce our position as a leading Web3-focused publisher with a global reach, utilizing our East and West teams.”
Xterio Foundation was founded in Switzerland with a council and a team of technology and entertainment leaders with deep free-to-play games experience. Its mission is to develop, publish, and distribute high-quality Web2 and Web3 games and interactive entertainment.
Binance Labs has grown to be worth over $9 billion and has a portfolio that covers 200 projects from over 25 countries across six continents.
“The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” said Yi He, cofounder of Binance and head of Binance Labs, in a statement. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise, we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”
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