- Binance Labs, the venture capital and incubation arm of Binance, has committed $15 million to the Xterio Foundation.
- Xterio combines a play-to-earn gaming experience and a GameFi-as-a-sevice product for developers in partner networks.
- Xterio has featured digital collectables distributed throughout its blockchain platform and marketplace.
The web3 industry is among the most flexible technolgy within the fourth industrial age. Its uses have redefined the financial sector leading to the emergence of the Fintech industries. Its immutable nature provides adequate security, safeguarding and retrieving medical records. In addition, its ability to empower the user directly led to its implementation in real estate, insurance policies and other sectors. One of its most successful projects is a blockchain gaming platform, providing a new approach to the industry. In recent news, Binance Labs invest $15 million into Xterio, a leading web3 game platform.
This new initiative propels not only the web3 gaming platform but also significantly boost the web3 industry.
Who is Xterio?
The era of decentralized applications has taken multiple industries by wave. Ranging from the media industry to the Agriculture sector, developers are finding new ways to implement blockchain technology. Recently web3 gaming has picked up in several gaming platforms. This led to the rise of multiple web3 gaming industries in the past half-decade.
Xteria is a web3 game platform dedicated to expanding and expanding the application of blockchain games. It has a cross-platform portfolio focusing on multiplayer games with deep, rich web3 gaming experiences across multiple genres. With the web3 industry steadily expanding its horizon, it’s only a matter of time before achieving global adoption.
The web3 game platform combines a play-to-earn gaming experience and a GameFi-as-a-sevice product for developers in partner networks. Since its founding, Xterio has presented a significant amount of potential, attracting the attention of multiple investors and collaborators.
For instance, FunPlus, a global developer of strategy games, has provided its technology stack to the web3 gaming platforms. They have formed an exclusive partnership to mint, deploy and manage all NFT for current and future game titles. Xterio received a $40 million funding round from FunPlus, FTX venture and XPLA, another web3 gaming platform. Xterio Foundation utilized this funding to expand the capabilities of its blockchain games.
Jeremy Horn, the Co-founder of Xterio, is a game industry veteran with deep expertise in developing and sustaining top-ranked social free-to-play games. He said, “At Xterio, we are building an amazing games platform that bridges how people play today with the power of Web3 for tomorrow.”
Jeremy is an avid advocator of blockchain games and has acknowledged the need for Web3 gaming platforms to usher in the new era of technology. He added, “We believe ownership enhances gameplay, but we are most interested in creating long-lasting franchises and rich gameplay experiences. We will build our games to be fun and engaging for traditional gamers and the Web3 audience in a way that any type of player can enjoy.“
Binance Labs invest in Xterio Foundation
Binance Labs, the venture capital and incubation arm of Binance, has committed $15 million to the Xterio Foundation. As the leading organization in the web3 industry, it comes as no surprise that Binance Labs took an interest in the efforts of developing blockchain games. Xterio has stated that the funding will further the development of new blockchain games, including AI integration and new game tokens.
Head of Binance, Yi He, said, “The Xterio ecosystem is expanding faster than ever and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities. The Xterio core team brings together experienced Web2 professionals with Web3 expertise. We look forward to closely working with them to allow gamers worldwide to experience rich on-chain gameplay.“
The web3 gaming platform has featured digital collectables distributed throughout its blockchain platform and marketplace. Currently, Xterio has a wide range of gamers through its latest blockchain games Overworld, the Age of Dino and its intensive action game 3T.
Micheal Tong, co-founder of Xterio said, “This significant capital commitment affirms Binance Labs’ long-term view of Web3 gaming and recognizes Xterio as a top-tier, globally impactful Web3 game platform. Binance Labs’ investment enhances our ability to launch a transformative ecosystem token and high-quality games. 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.“
The Web3 gaming platform has claimed to utilize the investments to expand the AI capabilities of its blockchain games. Recently the web3 industry has immersed itself in the AI franchise. In addition, multiple blockchain-based systems have turned to AI to mitigate several security and functional issues.
Xterio Foundation intends to develop AI-driven interactive experiences and resolve AI provenance issues within its blockchain games. Today, Xterio is developing an AI toolkit to generate style consistency and production-quality 2D and 3D assets. In addition, it will also offer an “emotion engine for AI.”
Binance Labs has supported multiple web3-based startups within the industry. It has become a leading investor in the majority of the developers within the industry. This steadily solidified its position within the fourth industrial revolution. Xterio has a hard task ahead, but its quality blockchain games speak for themselves. It’s only a matter of time before we see Binance Labs and Xterio leading the march into a new form of technology.