Coinspeaker Xterio Secures $15M Investment from Binance Labs to Enhance Its Web3 Gaming Ecosystem
Binance Labs, the investment division of Binance, has committed to investing $15 million in Xterio. The funding will support Xterio in its efforts in game development by helping it afford and create more infrastructure and incorporate artificial intelligence (AI). The funding will also support the creation of Xterio’s native token.
Binance Labs was established in 2017 as the venture capital and investment arm of Binance. It facilitates blockchain innovations, encourages adoption, and carries out activities to further build the blockchain and Web3 industries. Over the years, Binance Labs has focused on identifying, guiding, and funding projects that will be advantageous to the blockchain ecosystem so they can succeed. With this, Binance Labs has been able to invest in many projects it finds promising.
Xterio is a platform for Web3 games that allows free-to-play games. Its GameFi-as-a-Service model of operation also allows developers to create their own games on its platform. The Xterio team is made up of highly experienced people with solid backgrounds in tech, web gaming, and the entertainment industry.
With the Binance Labs funding, Xterio will look to expand its operations by creating more games natively and facilitating those created by companies partnering with it. The company will also be looking to integrate AI into its services for better gaming development and enhanced user expertise, as well as carry out other activities that will support the growth of its ecosystem.
The Co-Founder of Binance and Head of Binance Labs, Yi He, speaking about the collaboration, 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.”
How Binance Funding Will Help Xterio Ecosystem
Xterio ecosystem has been growing and developing different types of games and digital collectibles for its users. The funding will facilitate the growth of these areas.
Xterio Co-founder, Michael Tong, stated that Binance Lab’s investment will enable the platform to create its native token and more high-quality games. He emphasized the gaming company’s goals to leverage the team’s strengths to be a major Web3 publisher. He said:
“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 will also be able to use the funding to further its AI capabilities by creating AI-interactive experiences. There are also plans to launch an AI toolkit that will help generate high-quality 2D and 3D gaming assets.