The prominent venture arm of the renowned cryptocurrency exchange leader, Binance Labs has recently announced its plan to invest $15 million in Xterio, a esteemed platform and publisher in the Web3 game industry.
According to the announcement, Switzerland-based Xterio intends to employ the funding received for advancing the development of their upcoming games. Additionally, the funds will also be allocated toward integrating artificial intelligence features that enable interactive experiences, along with launching new tokens to enhance their ecosystem.
In spite of the increasing regulatory scrutiny, Binance Labs, the substantial $9 billion venture arm of Binance, is making an investment in Xterio to provide a significant boost to the realm of web3 gaming.
Yi He, the Co-Founder of Binance and Head of Binance Labs, highlighted the remarkable growth of the Xterio ecosystem, seamlessly coving free-to-play genres with on-chain gaming powered by AI enhancements.
Yi He also added that “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.”
Michael Tong, the co-founder of Xterio, expressed that the substantial investment serves as a strong validation of Binance Labs’ enduring belief in Web3 gaming and acknowledged Xterio as a prominent and influential global platform within the Web3 gaming space.
Xterio is actively working on an AI toolkit that produces high-quality 2D and 3D assets, ensuring style consistency. Moreover, they are developing an “emotion engine for artificial intelligence” to offer users companionship that transcends the conventional utility of AI.
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