Xterio is bridging free-to-play and the digital ownership era. The new funds will support game and technology development to bring high-quality cross-platform gameplay.
ZUG, Switzerland–(BUSINESS WIRE)–Binance Labs, the venture capital and incubation arm of Binance, has committed $15 million into Xterio’s exclusive development and management partner, a leading Web3 game platform and publisher bridging free-to-play and on-chain gaming with in-house and third-party games currently in development. The company plans to use this investment to further game and tech development, including integration of AI, and the launch of its tokens.
“The Xterio ecosystem is expanding faster than ever, and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” said Yi He, Co-Founder of Binance & Head of Binance Labs. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise, and we look forward to closely working with them to allow gamers around the world to experience rich on-chain gameplay.”
Xterio’s founding executive team has extensive experience in tech, Web2 gaming and entertainment companies like FunPlus, Ubisoft, Krafton, Jam City, NetEase and more, providing substantial expertise in creating and maintaining high-grossing, free-to-play social games on PC and mobile. As part of the long-term strategic partnership, Binance Labs will support Xterio’s growth, and Xterio’s token will become part of the BNB Chain ecosystem. This funding will accelerate the development of games incubated by Xterio and games of Xterio’s partners. Xterio is fueling the creation of fresh, world-class intellectual properties to enrich its Web3 distribution platform and ecosystem.
Xterio’s ecosystem is growing rapidly, with a diverse suite of cross-platform games scheduled to be released on PC and mobile. The ecosystem will also feature digital collectibles distributed via Xterio’s web platform and marketplace. Xterio caters to a wide range of gamers by offering immersive adventures in Overworld, strategic depth with Age of Dino, and intense action through 3T. More details about Xterio’s first and third-party games will be revealed soon.
“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,” said Michael Tong, co-founder of Xterio. “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 plans to utilize the investment to expand its AI capabilities, develop AI-driven interactive experiences, and resolve AI provenance issues in Web3. Currently, Xterio is in the process of developing an AI toolkit that generates style-consistent, production-quality 2D and 3D assets while also offering an “emotion engine for artificial intelligence.” This technology will be accessible to all content partners within the Xterio ecosystem, aiming to provide users with meaningful companionship that goes beyond the utility typically associated with AI.
About Xterio
Xterio Foundation was founded in Switzerland with a Council and a team of technology and entertainment leaders with deep free-to-play games experience. Its mission is to develop, publish and distribute high-quality Web2 and Web3 games and interactive entertainment. For more information, please visit xter.io and follow along on Twitter.
About Binance Labs
As the venture capital arm and accelerator of Binance, Binance Labs has now grown to be worth over $9 billion. Its portfolio covers 200 projects from over 25 countries across six continents and has a return on investment rate of over 10X. Fifty of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on Twitter.
Contacts
Media Contacts
Claire McCafferty
Binance
Sibel Sunar
fortyseven communications for Xterio
Read the orginal article: https://siliconcanals.com/news/business-wire/binance-labs-commits-15-million-into-xterio-ecosystem-to-expand-its-game-development-capabilities-in-ai-and-web3/
