Xterio has receiveda $15 million investment from Binance Labs, the venture financing and incubation division of cryptocurrency exchange Binance. The funding is expected to fuel the further development of Xterio’s games and technology, with a particular focus on exploring the integration of artificial intelligence (AI) into its gaming platform.
We’re excited to announce our investment in@XterioGames!
Xterio is a Web3 game platform & publisher innovating AI toolkits to bridge free-to-play & on-chain gaming with its diverse suite of in-house & third-party games.https://t.co/1x4LyMI5ra
— Binance Labs Fund (@BinanceLabs) July 13, 2023
Xterio is well-known for developing and publishing “free-to-play-and-own” games, where players can acquire non-fungible tokens (NFTs) while playing. The company leverages the unique features of blockchain technology to build games that offer players a genuine sense of ownership and control over their in-game assets and progress.
Currently, Xterio is working on the creation of AI tools that will enable developers to easily craft 2D and 3D game assets. In addition, the company is diligently working on the development of a virtual companion game called AIpal, which is expected to enter a closed beta phase in the near future.
According to Binance, the investment demonstrates its commitment to supporting innovation in Web3 gaming as well as its long-term strategic partnership with Xterio
Yi He, Co-Founder of Binance & Head of Binance Labs, remarked:
“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, believes that this funding will help reinforce Xterio’s position “as a leading Web3-focused publisher with a global reach.”
Prior to this investment, Xterio had secured $40 million in funding, with contributions from FunPlus, XPLA, and FTX Ventures. The company also invested $2.5 million in Overworld, a multiplayer RPG game studio led by Jeremy Horn, a co-founder of Xterio.
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