Binance Labs, the investment arm of the world’s largest crypto exchange, has committed a staggering $15 million to Xterio, a Web3 gaming startup focused on integrating artificial intelligence (AI) into its tech development. The Switzerland-based company’s founding team comprises experienced leaders from renowned gaming giants like Electronic Arts and Activision, which further strengthens its prospects.
The investment from Binance Labs announced through a blog post on Binance’s official website, marks a significant milestone for Xterio. The startup’s ecosystem is experiencing rapid growth, leveraging the power of AI to bridge free-to-play genres with on-chain gaming. This long-term strategic partnership with Binance will enable Xterio to expand its technological capabilities and seamlessly integrate AI into its products.
With the support of Binance Labs, Xterio aims to address AI provenance issues in the Web3 space, enhancing its game development capabilities. The investment will specifically expedite the development of games incubated by Xterio, as confirmed by Binance co-founder Yi He. Xterio plans to collaborate closely with its partners, utilizing the investment to develop innovative games that push the boundaries of Web3 gaming.
“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,” said Michael Tong, co-founder of Xterio.
Furthermore, Binance Labs’ investment will play a pivotal role in accelerating Xterio’s token launch. The token, set to become part of the BNB Chain ecosystem, will provide crucial support for the startup’s growth and expansion. The Xterio team, consisting of seasoned leaders from esteemed gaming companies such as Electronic Arts, Activision, Ubisoft, Blizzard, and NetEase, is also developing an AI toolkit capable of generating style-consistent, production-quality 2D and 3D assets.
With Binance’s backing and the integration of AI, Xterio is poised to become a dominant force in the Web3 gaming industry. The partnership represents a significant step forward for both companies, as they join forces to revolutionize the gaming landscape by leveraging the potential of blockchain, AI, and Web3 technologies.
As Xterio continues to advance its gaming offerings and expand its reach globally, Binance Labs’ investment will undoubtedly propel the startup to new heights, solidifying its position as a leader in the Web3 gaming space.
Source: https://bitcoinworld.co.in/binances-15-million-investment-boosts-xterios-web3-gaming-expansion/