According to a press release, Xterio has received an investment of 15 million dollars from Binance Labs, the venture capital arm of cryptocurrency exchange Binance. The Zug-based game developer plans to use the investment to broaden its skills in the areas of artificial intelligence (AI) and Web3 and launch its tokens in the BNB Chain ecosystem.
“The Xterio ecosystem is expanding faster than ever, and bridges free-to-play genres with on-chain gaming enhanced by AI capabilities,” says Yi He, co-founder of Binance and head of Binance Labs. “The Xterio core team brings together experienced Web2 professionals with Web3 expertise, and we look forward to working closely with them to allow gamers around the world to experience rich on-chain gameplay.”
Xterio was founded in 2022 and already offers a wide range of games for PC and mobile to a broad customer base. “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,” says Michael Tong, co-founder of Xterio. “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.” ce/mm