Binance Labs, the investment arm of Binance, announced that it has invested $15 million in Xterio, a web3 gaming startup.
$15 Million Investment from Binance Labs
The fund will support Xterio expanding its game offerings and integrating artificial intelligence (AI) into its platform.
Xterio operates a free-to-play gaming platform and offers GameFi as a service that enables developer partners to create third-party games.
With its new investment, Xterio plans to develop AI-driven interactive experiences and develop an AI toolset capable of producing high-quality 2D and 3D assets for game production.
Known as the world's largest cryptocurrency exchange by transaction value, Binance has recently faced increased regulatory scrutiny.
However, Binance Labs continues to invest in promising projects with assets that have recently reached $9 billion.
Yi He, Binance co-founder and president of Binance Labs, expressed his excitement for the collaboration with Xterio.
He noted that Xterio's ecosystem is expanding rapidly, blending free-to-play genres with in-chain games enhanced with artificial intelligence capabilities.
He also highlighted the expertise of Xterio's core team, which combines experienced professionals in the Web2 domain with expertise in Web3 technologies.
With the support and funding of Binance Labs, Xterio is poised to strengthen its position in the web3 gaming industry and contribute to the development of the broader blockchain gaming ecosystem.
This investment demonstrates Binance's commitment to fostering innovation and driving adoption of new technologies in the cryptocurrency and gaming industries.
*Not investment advice.