Binance Labs is the investment arm of the world’s largest cryptocurrency exchange Binance. While Binance is undergoing regulatory scrutiny, the company has not stopped its investments in Web3 gaming. Recently, Binance Labs has committed an investment of $15 Million into Xterio Ecosystem, a Web2 and Web3 game developer.
Xterio is a long-standing strategic partner and operating company for Binance and has set its sights on bridging the gap between free-to-play games and blockchain gaming. With a portfolio encompassing both in-house and third-party games currently in development, Xterio aims to revolutionize the gaming industry. The recent investment from Binance Labs will serve as a catalyst, empowering Xterio to expand its game development capabilities through the integration of artificial intelligence (AI) and the launch of its own tokens.
How would Xterio utilize the investment?
Capitalizing on the investment, Xterio plans to leverage AI capabilities to create interactive experiences driven by artificial intelligence. Moreover, they aim to address AI provenance issues within the Web3 space, solidifying their position as a trailblazer in the industry.
“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, cofounder of Xterio, in a statement. “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.”
Drawing from their wealth of expertise, the team at Xterio excels in creating and maintaining highly profitable, free-to-play social games across various platforms, including PC and mobile. Binance Labs will provide invaluable support for Xterio’s growth, while Xterio’s token will seamlessly integrate into the BNB Chain ecosystem as part of their long-term strategic partnership.
Xterio proudly announces that its ecosystem is rapidly expanding, with a diverse array of cross-platform games scheduled for release on PC and mobile devices. Furthermore, the ecosystem will feature digital collectibles that will be distributed through Xterio’s web platform and marketplace. Catering to a wide range of gamers, Xterio offers titles such as the immersive Overworld, the strategic marvel Age of Dino, and adrenaline-pumping action in 3T.
Overall, Xterio’s visionary approach and partnership with Binance position them at the forefront of the evolving landscape where free-to-play games seamlessly merge with the potential of blockchain gaming.
“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 and head of Binance Labs, in a statement. “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.”
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.
Binance Labs Investment Ventures in Web3 Space
Binance Labs has grown to be worth over $9 billion and has a portfolio that covers 200 projects from over 25 countries across six continents. Apart from Xterio, Binance Labs has also invested in other Web3 gaming projects such as Fusionist, a Web3 gaming company. Binance Labs has committed a $6.6 Million Seed Round for the company to support its early-stage Web3 gaming company. Currently, Fusionist is working on X-Bond, a part of the Nexus Bond, a unique airdrop program mechanism created by the Fusionist team.
Also, another Binance Labs backed Web3 gaming startup called Unagi, earlier announced a $5 million seed funding round for its NFT fantasy sports platform. Binance Labs has also invested in a seed funding round for GOMBLE, a blockchain-based casual game developer who has rebranded as Rumby Stars.
Binance Labs has been proactive in the investment space despite the current regulatory scrutiny especially in the Web3 gaming space. The investment arm aims to help different segments of the blockchain industry grow with the help of its resources.
