Xterio Secures $15 Million Investment from Binance Labs for Web3 Game Innovation

ChainPlay

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one year ago

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Binance Labs, the venture capital arm of Binance, has made a significant investment of $15 million in Xterio, a startup web3 game publisher developing multiple NFT games.

Xterio, known for its commitment to player ownership and immersive game experiences, is set to utilize the funds for game technology advancement and development, including the exploration of artificial intelligence integration into its titles.

As a free-to-play-and-own game developer and publisher, Xterio is dedicated to creating captivating worlds and stories while actively involving the community in the game development process. The company currently supports the creation of 11 games, ranging from the sandbox RPG game Overworld to the prehistoric MMO strategy game Age of Dino.

This latest investment follows Xterio's successful funding round in August, which raised $40 million from investors such as FunPlus, XPLA, and FTX Ventures. Furthermore, Xterio demonstrated its commitment to innovation by investing $2.5 million in Overworld, a multiplayer RPG game studio helmed by Xterio co-founder Jeremy Horn.

Binance Labs emphasized its support for traditional game developers and studios venturing into the blockchain gaming space. The firm has invested in blockchain gaming startups since 2021, offering an early boost to gaming projects such as League of Kingdoms.

The investment in Xterio reflects their belief in the potential of web3 gaming and the transformative power it brings to the industry.

With the backing of Binance Labs, Xterio is well-positioned to advance its game technology and deliver immersive gaming experiences that empower players and embrace the possibilities of blockchain and artificial intelligence. Gaming enthusiasts can look forward to Xterio's future releases, as they continue to shape the landscape of web3 gaming.