Binance Labs, which is the venture capital wing of Binance, has pledged the amount of $15 million towards Xterio, a top Web3 game platform. The entity is also engaged in free-to-play and on-chain gaming. It is in the process of developing in-house as well as third-party games. The funding amount will go towards taking gaming and technology development to the next level, along with the incorporation of AI. Its tokens, too, will be delivered.
According to the Co-Founder of Binance and Head of Binance Labs, Yi He, the current growth rate of the Xterio ecosystem is indeed exponential. The highlighting point remains the fact that it is able to link free-to-play gaming with on-chain games with the effective utilization of AI. In his viewpoint, they will benefit enormously from the expertise that comes with Xterio and take on-chain gaming to new heights.
Xterio team members come with a tremendous amount of exposure to new-age technology. They have been involved with companies such as FunPlus, Krafton, and many others and are capable of contributing to the building of free-to-play social games that are downloaded on handheld gadgets and PCs. As per the agreement, Binance Labs will be responsible for the overall growth of Xterio and help in making the Xterio token a segment of the BNB Chain ecosystem.
The ecosystem of Xterio will be receiving an extra boost through the various cross-platform games that are about to be delivered on PCs and handheld gadgets. The ecosystem will also be coming with digital collectibles that will be allocated through the web platform of Xterio. In their arsenal, they have games like Overworld, Age of Dino, and 3T, all unique in their own way.
As per the Co-Founder of Xterio, Michael Tong, the fact that Binance Labs is helping out with their funding speaks volumes regarding the current stature of Xterio. Through the amount they receive, it will be possible for them to take gaming to greater heights and push their ecosystem token. He believes the possibilities will now be endless. Plans are afoot for Xterio to invest their time and money in working towards unraveling AI potential. Presently, the entity is involved in creating an AI toolkit that brings about 2D and 3D assets and making provision for an emotion engine with regard to AI.
Xterio Foundation was officially set up in Switzerland and had a Council coupled with a team of experts in technology and entertainment. They had extensive knowledge regarding free-to-play gaming, and the entire aim lay in the development and distribution of high-level Web2 and Web3 games having interactive options.
Source: https://www.cryptonewsz.com/binance-labs-pledges-15m-usd-for-xterio-boosts-ai-and-web3-gaming/