Venture capital and incubation arm Binance Labs has committed $15 million into Web3 game platform and publisher Xterio. The company aims to use this investment to further its game and tech development including AI integration and the launch of its tokens.
Founded in Switzerland, Xterio is focused on bridging free-to-play and on-chain gaming with in-house and third-party games currently in development.
Yi He, co-founder of Binance and Head of Binance Labs said, “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.”
Xterio’s founding executive team brings extensive experience from tech, Web2 gaming, and entertainment companies, such as FunPlus, Ubisoft, Krafton, Jam City, NetEase and more. This experience has equipped them with the expertise necessary to create and maintain free-to-play social games on PC and mobile.
Expanding AI and Web3 gaming capabilities
Binance Labs will support Xterio’s growth throughout their long-term strategic partnership as the Xterio token will become part of the BNB Chain ecosystem. The funding will also accelerate the development of games incubated by Xterio and other titles of Xterio’s partners.
Michael 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, utilising our East and West teams,” Tong added.
Xterio currently caters to a wide range of gamers by offering immersive adventures in Overworld, strategic depth with Age of Dino, and intense action through 3T. More details about Xterio’s first and third-party games will be revealed soon.