Binance Labs Invests $15 million into Xterio Ecosystem
The new funds will support and expand the firm’s development capabilities in AI and Web3.
Binance Labs’ Monetary Support
The Venture Capital and Incubation arm of Binance, Binance Labs, has committed $15 million to Xterio, a Web3 gaming platform and publisher. Xterio plans to use this investment to advance game and technology development, including the integration of Artificial Intelligence and token launch.
Yi He, Co-Founder of Binance and Head of Binance Labs, said:
“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, we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”
The web3 gaming platform currently supports the development of 11 games listed on its website. They range from mobile Japanese role-playing games(RPGs) like Blackdawn to massively multiplayer online PC games like Blocklords. Xterio’s founding team has extensive experience in Web2 gaming and Entertainment companies like FunPlus, Ubisoft, and Jam City.
Integrating AI Toolkits
Xterio, the free-to-play-and-own game developer, intends to utilize the monetary commitment by Binance Labs to expand its AI capabilities, develop AI-driven interactive experiences and resolve AI provenance issues in Web3. Xterio is currently creating an AI toolkit that generates style-consistent, production-quality 2D and 3D assets while offering an “emotion engine for artificial intelligence.”
This AI toolkit technology would be made accessible to all content partners within the Xterio ecosystem. This aims to provide users with meaningful companionship beyond the utility generally attributed to AI. The Xterio ecosystem is rapidly advancing and plans to feature digital collectibles distributed via the web platform and marketplace.
Co-founder of Xterio, Michael Tong, said:
“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.”