Binance Labs invests $15 million in Web3 gaming platform

Xterio is a Zug-based startup fueling the creation of fresh, world-class intellectual properties to enrich its Web3 distribution platform and ecosystem. Founded by veterans in the gaming industry with experience from Web2 gaming and entertainment companies like FunPlus, Ubisoft, Krafton, Jam City, NetEase and more, Xterio has built a Web3 free-to-play-and-earn game developer and publisher.

With in-house and third-party games currently in development, Xterio’s ecosystem is growing rapidly. It has a diverse suite of cross-platform games scheduled to be released. The ecosystem will also feature digital collectables 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.

To accelerate the development of games incubated by its games and those from its partners, the company has obtained a $15 million capital injection from Binance Labs, the venture capital and incubation arm of Binance. As part of the long-term strategic partnership, Binance Labs will also support Xterio’s growth and Xterio’s token will become part of the BNB Chain ecosystem.

“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 further utilize the investment to expand its AI capabilities, develop AI-driven interactive experiences, and resolve AI provenance issues in Web3. Xterio is currently 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.

With teams and studios located globally in cities including Switzerland, San Francisco, Los Angeles, Tokyo, and Singapore, the Xterio platform is designed and developed by the Xterio Foundation, a Swiss not-for-profit foundation based in Zug.

(Press release/RAN)
Image source: Xterio