Binance Labs Committed To Invest $15 Million In Web3 Game Publisher Xterio
- Binance Labs’ long-term strategy with web game Xterio with $15 million investment
- Xterio will use the funds raised to accelerate the development of Xterio-incubated games and integrate artificial intelligence (AI) in its technology development.
- This substantial capital commitment confirms Binance Labs’ long-term vision for Web3 gaming and recognizes Xterio as the leading Web3 gaming platform.
Binance Labs, the venture capital and incubator arm of Binance, has committed to investing $15 million in Xterio, the leading Web3 gaming platform, and publisher that connects online and free-to-play games to games. Internal and third-party players are currently in development. The company plans to use this investment for further technology and game development, including AI integration and the launch of its tokens.
Xterio Foundation is founded in Switzerland with a Council and a group of technology and entertainment leaders with an in-depth free game experience. Its mission is to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment.
The founding executive team includes seasoned leaders from FunPlus, Electronic Arts, Activision Blizzard, Krafton, Jam City, and NetEase, providing expertise in developing and publishing social games High-grossing free-to-play on PC and mobile devices.
“This substantial capital commitment confirms Binance Labs’ long-term vision for Web3 gaming and recognizes Xterio as a leading, globally influential Web3 gaming platform,” Michael Tong, co-founder of Xterio, said.
Xterio plans to use the investment to expand its AI capabilities, develop AI-driven interactive experiences, and solve AI-origin issues in Web3. Currently, Xterio is developing an AI toolkit that creates production-quality, style-appropriate 2D and 3D content while providing an “emotional engine for artificial intelligence”.
Binance Labs defines Web3 as the next generation of the Internet, with interconnected digital information in a decentralized way and publicly owned by users, enabled by blockchain technology. The platform has always affirmed that it will give its best support to help startups have the opportunity to develop.
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