Hassan Maishera
TL;DR
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Binance Labs, the venture capital and incubation arm of Binance, has invested $15M into the Xterio ecosystem.
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The team will use the funds to accelerate game and tech development, including the integration of AI-driven tools.
Binance Lab Expands Investment In Gaming
Binance Labs, the venture capital and incubation arm of Binance, has invested $15 million into the Xterio ecosystem. Xterio is a leading Web3 game platform and publisher bridging free-to-play and on-chain gaming with in-house and third-party games currently in development.
According to Binance Labs, Xteria will use the investment to further game and tech development, including integration of AI, and the launch of its tokens.
While commenting on this latest development, Yi He, Co-Founder of Binance & Head of Binance Labs, stated that;
“The Xterio ecosystem is expanding faster than ever, and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities. The Xterio core team brings together experienced Web2 professionals with Web3 expertise, and we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”
Xteria’s team members have vast experience in the Web2 gaming industry, having worked with companies like FunPlus, Ubisoft, Krafton, Jam City, NetEase and more.
Thanks to this partnership, Binance Labs will support Xterio's growth, and Xterio’s token will become part of the BNB Chain ecosystem. Binance Labs added that the funding will accelerate the development of games incubated by Xterio and games of Xterio’s partners. Xterio is fueling the creation of fresh, world-class intellectual properties to enrich its Web3 distribution platform and ecosystem.
The Xterio ecosystem is set to feature digital collectibles distributed via Xterio’s web platform and marketplace. It will also include a wide range of cross-platform games that will be released for PC and mobile users.
Michael Tong, the co-founder of Xterio, added that;
“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. 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 said they would use the funds to expand their AI features, develop AI-driven interactive experiences, and resolve AI provenance issues in Web3.
At the moment, Xterio is working on developing an AI toolkit that generates style-consistent, production-quality 2D and 3D assets while also offering an "emotion engine for artificial intelligence."
This investment comes despite Binance currently facing regulatory challenges in the United States and other parts of the world.
