The funding will enable Xterio to expand its platform with additional games and integrate artificial intelligence technology.
Binance Labs has pledged to invest $15 million in Xterio, a platform and publisher for Web3 games. Xterio intends to utilize the funding to advance game and technology creation, which includes integrating artificial intelligence (AI) and introducing its own tokens.
Binance Labs is the investment division of Binance, which is the biggest cryptocurrency exchange worldwide based on trading value (as per CoinMarketCap data).
Despite regulatory challenges faced by the exchange, Binance Labs has maintained its investment activities and has now grown its assets to $9 billion.
Xterio provides a gaming platform where users can play games for free. Additionally, they offer a GameFi-as-a-service product that assists developer partners in creating games.
Xterio’s future plans involve enhancing their AI-driven interactive experiences and creating an AI toolkit capable of generating high-quality 2D and 3D assets consistently.
Yi He, co-founder of Binance and head of Binance Labs, expressed that the Xterio ecosystem is growing rapidly and connecting different genres of free-to-play games with blockchain-based gaming improved by AI capabilities.
He mentioned that the Xterio team consists of experienced professionals from traditional web platforms (Web2) as well as experts in blockchain technology (Web3).
They are excited to collaborate closely with Xterio to enable players worldwide to enjoy immersive blockchain gaming experiences.
In August 2022, Xterio successfully secured a funding round of $40 million with key participation from Makers Fund, XPLA, and previously defunct FTX Ventures. With the recent strategic partnership, Binance Labs will provide support for Xterio’s expansion plans, and Xterio’s token will become integrated into the BNB Chain ecosystem.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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