Binance Labs, the venture capital and incubation arm of Binance, has announced a significant commitment of $15 million into Xterio, a prominent Web3 game platform and publisher that aims to bridge the gap between free-to-play and on-chain gaming.
With a focus on in-house and third-party games currently in development, the new funds will provide support for game and technology development, including the integration of artificial intelligence (AI) and the introduction of its tokens.
Co-founder of Binance and head of Binance Labs, Yi He expressed excitement about Xterio’s rapid expansion. He stated, “The Xterio ecosystem is growing faster than ever and connects free-to-play genres with on-chain gaming enhanced by AI capabilities. The Xterio core team consists of experienced Web2 professionals with Web3 expertise and we eagerly anticipate working closely with them to offer gamers around the world rich on-chain gameplay experiences”.
The executive team behind Xterio boasts extensive experience in the tech, Web2 gaming and entertainment sectors, having worked with esteemed companies such as FunPlus, Ubisoft, Krafton, Jam City, and NetEase. Their expertise lies in creating and maintaining high-grossing, free-to-play social games on PC and mobile platforms. In a strategic partnership, Binance Labs will support Xterio’s growth, and Xterio’s token will become integrated into the BNB Chain ecosystem. This funding is expected to accelerate the development of games incubated by Xterio as well as those created by its partners, fueling the creation of fresh, world-class intellectual properties to enrich its Web3 distribution platform and ecosystem.
With a diverse suite of cross-platform games scheduled for release on PC and mobile, Xterio’s ecosystem is thriving. Additionally, digital collectables will be distributed through Xterio’s web platform and marketplace. Among the games offered, players can expect immersive adventures in Overworld, strategic depth with Age of Dino and intense action in 3T. Further details about Xterio’s first and third-party games will be unveiled soon.
Co-founder of Xterio, Michael Tong, expressed his enthusiasm about the investment, stating, “This significant capital commitment affirms Binance Labs’ long-term view of Web3 gaming and recognises Xterio as a top-tier, globally impactful Web3 game platform. Binance Labs’ investment strengthens 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, utilising our East and West teams”.
Xterio has ambitious plans for the investment, intending to enhance its AI capabilities by developing AI-driven interactive experiences and resolving AI provenance issues in the Web3 space. Presently, Xterio is actively working on an AI toolkit that generates style-consistent, production-quality 2D and 3D assets, complemented by an “emotion engine for artificial intelligence.” This cutting-edge technology will be accessible to all content partners within the Xterio ecosystem, with the aim of providing users with meaningful companionship that goes beyond the typical utility associated with AI.
As Xterio continues to push the boundaries of Web3 gaming, Binance Labs’ significant investment marks a turning point for the platform, fueling innovation in AI-driven game development and cementing Xterio’s position as a global leader in the on-chain gaming industry. With the promise of groundbreaking games and cutting-edge technology, Xterio’s future seems brighter than ever, attracting gamers worldwide to experience a new era of interactive entertainment.